cost accounting 15th edition chapter 7 problem 36p solution

required

1, 2, 3, 4, 5, 6, and 7

On May 1, 2014, Lowell Company began the manufacture of a new paging machine known as Dandy, The company installed a standard costing system to account for manufacturing costs. The standard costs for a unit of Dandy follow: The following data were obtained from Lowells records for the month of May: Actual production in May was 4,700 units of Dandy, and actual sales in May were 3,000 units. The amount shown for direct materials price variance applies to materials purchased during May. There was no beginning inventory of materials on May 1,2014. Standard direct manufacturing labor-hours allowed for actual output produced Actual direct manufacturing labor-hours worked Actual direct manufacturing labor wage rate Standard quantity of direct materials allowed (in pounds) Actual quantity of direct materials used (in pounds) Actual quantity of direct materials purchased (in pounds) Actual direct materials price per pound