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Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate 7.7 grams Direct materials Direct labor Variable overhead $ 2.30 per gram 0.5 hours $23.00 per hour $ 7.30 per hour 0.5 hours The company produced 5,500 units in January using 39,610 grams of direct material and 2,410 direct labor-hours. During the month, the company purchased 44,700 grams of the direct material at $2.00 per gram. The actual direct labor rate was $22.30 per hour and the actual variable overhead rate was $710 per hour 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 January is: Multipie Choice $482 U $550 F $482 F

Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate 7.7 grams Direct materials Direct labor Variable overhead $ 2.30 per gram 0.5 hours $23.00 per hour $ 7.30 per hour 0.5 hours The company produced 5,500 units in January using 39,610 grams of direct material and 2,410 direct labor-hours. During the month, the company purchased 44,700 grams of the direct material at $2.00 per gram. The actual direct labor rate was $22.30 per hour and the actual variable overhead rate was $710 per hour 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 January is: Multipie Choice $482 U $550 F $482 F

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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9q-14
Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 7.7 grams $ 2.30 per gram $23.00 per hour $ 7.30 per hour Direct labor 0.5 hours Variable overhead 0.5 hours The company produced 5,500 units in January using 39,610 grams of direct material and 2,410 direct labor-hours. During the month, the company purchased 44,700 grams of the direct material at $2.00 per gram. The actual direct labor rate was $22.30 per hour and the actual variable overhead rate was $710 per hour. 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 January is: Multipie Choice $482 U $550 F $482 F
Transcribed Image Text:Doogan Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 7.7 grams $ 2.30 per gram $23.00 per hour $ 7.30 per hour Direct labor 0.5 hours Variable overhead 0.5 hours The company produced 5,500 units in January using 39,610 grams of direct material and 2,410 direct labor-hours. During the month, the company purchased 44,700 grams of the direct material at $2.00 per gram. The actual direct labor rate was $22.30 per hour and the actual variable overhead rate was $710 per hour. 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 January is: Multipie Choice $482 U $550 F $482 F
The company produced 5,500 units in January using 39,610 grams of direct material and 2410 direct labor-hours. During the month, the company purchased 44,700 grams of the dir material at $200 per gram. The actual direct labor rate was $2230 per hour and the actual variable overhead rate was $7.10 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materlals are purchased. The variable overhead rate variance for January is: Multiple Choice $482 U $550 F $482 F $550 U
Transcribed Image Text:The company produced 5,500 units in January using 39,610 grams of direct material and 2410 direct labor-hours. During the month, the company purchased 44,700 grams of the dir material at $200 per gram. The actual direct labor rate was $2230 per hour and the actual variable overhead rate was $7.10 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materlals are purchased. The variable overhead rate variance for January is: Multiple Choice $482 U $550 F $482 F $550 U
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