Garrison Manufacturing has the following standard cost sheet for one of its products: Direct materials (5 m@ $6) $30 Direct labour (1.5 hours @ $10) 15 Variable overhead (1 hour @$7) Fixed overhead (2 hours @ $3) Standard unit cost $58 *Rate based on expected activity of 12.000 hours. During the most recent year, the following actual results were recorded: Production 13,000 units Fixed overhead $36,000 Variable overhead $60,000 Direct materials (62,500 m purchased) $382,500 Direct labour (15,900 hours) $182,580 Required: Compute the following variances: 1. Direct materigls price usgge and total direct material variances

Garrison Manufacturing has the following standard cost sheet for one of its products: Direct materials (5 m@ $6) $30 Direct labour (1.5 hours @ $10) 15 Variable overhead (1 hour @$7) Fixed overhead (2 hours @ $3) Standard unit cost $58 *Rate based on expected activity of 12.000 hours. During the most recent year, the following actual results were recorded: Production 13,000 units Fixed overhead $36,000 Variable overhead $60,000 Direct materials (62,500 m purchased) $382,500 Direct labour (15,900 hours) $182,580 Required: Compute the following variances: 1. Direct materigls price usgge and total direct material variances

Name: Garrison Manufacturing has the following standard cost sheet for one
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Description: Garrison Manufacturing has the following standard cost sheet for one of its products:Direct materials (5 m @ $6)$30Direct labour (1.5 hours @ $10)15Variable overhead (1 hour @$7)7Fixed overhead (2 hours @ $3)6Standard unit cost$8*Rate based on expec

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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