During the month of July the company IS S . A . produced 5 0
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Question:
During the month of July the company IS SA produced units of a special fabric for mattresses under the brand name Strom. The direct standard cost for a strom unit consists of the following cost components:
Direct materials: meters x per meter
Immediate work: hours x per hour
Total direct standard cost per unit produced
Below are additional information regarding the production of the Strom product during July:
Quantity Value
Purchases of raw materials: meters
Raw materials used: metres
Immediate work: hours
Requested:
Calculate and characterize the following deviations for the month of July:
a Raw material price deviation.
b Deviation of quantity of raw materials.
c Deviation of hourly wage of direct work d Deviation of performance of direct work
Make the Production in Progress account statement journals.
Related Book For
Accounting What the Numbers Mean
ISBN: 978-0078025297
10th edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
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