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jesshalavi jesshalavi
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11 months ago

Ravena Labs., Incorporated makes a single product which has the following standards:

Direct materials: 2.5 ounces at $20 per ounce

Direct labor: 1.4 hours at $12.50 per hour

Variable manufacturing overhead: 1.4 hours at 3.50 per hour

Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October:

  • 3,750 units of compound were produced during the month.
  • There was no beginning direct materials inventory.
  • Direct materials purchased: 12,000 ounces for $225,000.
  • The ending direct materials inventory was 2,000 ounces.
  • Direct labor-hours worked: 5,600 hours at a cost of $67,200.
  • Variable manufacturing overhead costs incurred amounted to $18,200.
  • Variable manufacturing overhead applied to products: $18,375.

The materials price variance for October is:



▸

$15,000 Unfavorable



▸

$15,000 Favorable



▸

$25,000 Unfavorable



▸

$25,000 Favorable

Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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chanelstar27chanelstar27
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11 months ago
This site is awesome
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Brilliant ツ
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