Haslett Inc., which produces a single product, has prepared the following standard cost sheet for one unit
Question:
Haslett Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
Direct materials (8 pounds at $2.50 per pound) …………….$20
Direct labor (3 hours at $12.00 per hour) …………………...$36
During the month of April, the company manufactures 230 units and incurs the following actual costs.
Direct materials purchased and used (1,900 pounds) ……….$4,940
Direct labor (700 hours) ……………………………………..$8,120
Instructions
Compute the total, price, and quantity variances for materials and labor.
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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