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Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours 6.5 ounces 0.5 hours 0.5 hours. Direct materials Direct labor Variable overhead. The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate Standard Price or Rate $ 4.00 per ounce $ 16.00 per hour. $ 4.00 per hour Multiple Choice 5,500 units 8,300 units 30,600 ounces 1,960 hours 33,000 ounces $72.90 per ounce $ 82.40 per hour $ 3.20 per hour. Standard Cost Per Unit $26.00 $ 8.00 $ 2.00 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is:

Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours 6.5 ounces 0.5 hours 0.5 hours. Direct materials Direct labor Variable overhead. The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate Standard Price or Rate $ 4.00 per ounce $ 16.00 per hour. $ 4.00 per hour Multiple Choice 5,500 units 8,300 units 30,600 ounces 1,960 hours 33,000 ounces $72.90 per ounce $ 82.40 per hour $ 3.20 per hour. Standard Cost Per Unit $26.00 $ 8.00 $ 2.00 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is:

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 20E: Jameson Company produces paper towels. The company has established the following direct materials...
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Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 6.5 ounces 0.5 hours. 0.5 hours N The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate. Standard Price or Rate $ 4.00 per ounce. $ 16.00 per hour. $ 4.00 per hour. Multiple Choice 5,500 units 8,300 units 30,600 ounces 1,960 hours 33,000 ounces $72.90 per ounce. $ 82.40 per hour $ 3.20 per hour. Standard Cost Per Unit $26.00 $ 8.00 $ 2.00 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is:
Transcribed Image Text:Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 6.5 ounces 0.5 hours. 0.5 hours N The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate. Standard Price or Rate $ 4.00 per ounce. $ 16.00 per hour. $ 4.00 per hour. Multiple Choice 5,500 units 8,300 units 30,600 ounces 1,960 hours 33,000 ounces $72.90 per ounce. $ 82.40 per hour $ 3.20 per hour. Standard Cost Per Unit $26.00 $ 8.00 $ 2.00 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for February is:
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