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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Standard Cost Per Hours Standard Price or Rate Unit $ 13.00 $ 4.60 $ 1.20 6.5 ounces $ 2.00 per ounce $ 23.00 per hour $6.00 рer hour Direct materials Direct labor 0.2 hours Variable overhead 0.2 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output 2,700 units 2,800 units Raw materials used in production 19,380 ounces Purchases of raw materials 21,400 ounces Actual direct labor-hours 500 hours $ 40,660 $ 12,050 $ 3,100 Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 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 June is:

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Standard Cost Per Hours Standard Price or Rate Unit $ 13.00 $ 4.60 $ 1.20 6.5 ounces $ 2.00 per ounce $ 23.00 per hour $6.00 рer hour Direct materials Direct labor 0.2 hours Variable overhead 0.2 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output 2,700 units 2,800 units Raw materials used in production 19,380 ounces Purchases of raw materials 21,400 ounces Actual direct labor-hours 500 hours $ 40,660 $ 12,050 $ 3,100 Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 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 June is:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Standard Cost Per Hours Standard Price or Rate Unit $ 2.00 per ounce $ 23.00 per hour $ 6.00 per hour $ 13.00 $ 4.60 $ 1.20 Direct materials 6.5 ounces Direct labor 0.2 hours Variable overhead 0.2 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output 2,700 units 2,800 units Raw materials used in production 19,380 ounces Purchases of raw materials 21,400 ounces Actual direct labor-hours 500 hours Actual cost of raw materials purchases $ 40,660 $ 12,050 $ 3,100 Actual direct labor cost Actual variable overhead cost 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 June is:
Transcribed Image Text:Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Standard Cost Per Hours Standard Price or Rate Unit $ 2.00 per ounce $ 23.00 per hour $ 6.00 per hour $ 13.00 $ 4.60 $ 1.20 Direct materials 6.5 ounces Direct labor 0.2 hours Variable overhead 0.2 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output 2,700 units 2,800 units Raw materials used in production 19,380 ounces Purchases of raw materials 21,400 ounces Actual direct labor-hours 500 hours Actual cost of raw materials purchases $ 40,660 $ 12,050 $ 3,100 Actual direct labor cost Actual variable overhead cost 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 June is:
Multiple Choice $100 U $112 U $112 F $100 F
Transcribed Image Text:Multiple Choice $100 U $112 U $112 F $100 F
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