Green Tee produces 100 percent cotton t-shirts, with the following standard direct material and labor quantities and
Question:
Direct material ......... 2.0 yards × $3.00
Direct labor ......... 0.7 hour × $7.50
Actual September production and costs for the company to produce 10,000 t-shirts were as follows:
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a. What is the standard quantity of material and the standard labor time for September€™s production?
b. Compute the direct material and direct labor variances.
c. How might the sales and production managers explain the direct material variances?
d. How might the production and human resources managers explain the direct labor variances?
e. Record the year-end adjusting entry to close the material and laborvariances.
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a Standard quantity of material 2 yards 10000 shirts 20000 yards Standard labor time 07 hours 10000 ...View the full answer
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Related Book For 
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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