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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost or Hours Rate Per Unit Direct materials 6.2 ounces $ 7.00 per 24 43.40 ounce $ 10.00 per hour $ 7.00 per hour Direct labor 0.7 hours 7.00 4.90 %24 Variable overhead 0.7 hours 2$ The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials 3,400 units 2,800 units 20,000 ounces 21,100 ounces Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,500 hours $ 41,900 $ 13,400 $ 3,700 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased variano for June is

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost or Hours Rate Per Unit Direct materials 6.2 ounces $ 7.00 per 24 43.40 ounce $ 10.00 per hour $ 7.00 per hour Direct labor 0.7 hours 7.00 4.90 %24 Variable overhead 0.7 hours 2$ The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials 3,400 units 2,800 units 20,000 ounces 21,100 ounces Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,500 hours $ 41,900 $ 13,400 $ 3,700 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased variano for June is

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 8P: Carlo Lee Corp. has established the following standard cost per unit: Although 10,000 units were...
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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost Rate or Hours Per Unit Direct materials 6.2 $ 7.00 per 2$ 43.40 ounces ounce $ 10.00 per hour $ 7.00 per hour $ 7.00 Direct labor Variable overhead 0.7 hours 4.90 0.7 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production 3,400 units 2,800 units 20,000 ounces 21,100 ounces Purchases of raw materials Actual direct labor-hours 4,500 hours $ 41,900 $ 13,400 $ 3,700 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 materials quantity variance for June is:
Transcribed Image Text:Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost Rate or Hours Per Unit Direct materials 6.2 $ 7.00 per 2$ 43.40 ounces ounce $ 10.00 per hour $ 7.00 per hour $ 7.00 Direct labor Variable overhead 0.7 hours 4.90 0.7 hours The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production 3,400 units 2,800 units 20,000 ounces 21,100 ounces Purchases of raw materials Actual direct labor-hours 4,500 hours $ 41,900 $ 13,400 $ 3,700 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 materials quantity variance for June is:
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 materials quantity variance for June is: Multiple Choice $18,480 F $5.242 U S18.480 U $5,242 F
Transcribed Image Text: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 materials quantity variance for June is: Multiple Choice $18,480 F $5.242 U S18.480 U $5,242 F
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