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Workmaster Enterprises uses a standard cost system in which direct materials inventory is carried at standard cost. Workmaster has established the following standards for the prime costs of one unit of product. Direct Materials Direct Labor Total Standard Quantity 15 pounds 0.30 hours Standard Price Standard Price $3.20 per pound $14.00 per hour $48.00 $4.20 $52.20 During June, Workmaster bought 240,000 pounds of direct materials at a total cost of $523,000. The total factory wages for June were $95,000, 80% of which were for direct labor. Workmaster manufactured 30,000 units of product during June using 225,000 pounds of direct materials and 9,500 direct labor hours. What is the direct labor efficiency variance for June? Workmaster Enterprises uses a standard cost system in which direct materials inventory is carried at standard cost. Workmaster has established the following standards for the prime costs of one unit of product. Direct Materials Direct Labor Total Standard Quantity 15 pounds 0.30 hours Standard Price Standard Price $3.20 per pound $14.00 per hour $48.00 $4.20 $52.20 During June, Workmaster bought 240,000 pounds of direct materials at a total cost of $523,000. The total factory wages for June were $95,000, 80% of which were for direct labor. Workmaster manufactured 30,000 units of product during June using 225,000 pounds of direct materials and 9,500 direct labor hours. What is the direct labor efficiency variance for June?
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
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