Sara metal frames over the period of years using standard costing system in its unit and has April month manufacturing variances as follows: Overhead variance 710 U Labor quantity variance U Labor price variance 510 U Materials quantity variance 840 F Materials price variance 1,430 U In addition, 8,500 units of product were sold at 8 per unit. Each unit sold had a standard cost of 4.Selling and administrative expenses were 8,290 for the month. Prepare an income statement for management for the month ended January 31, 2021. 930
Sara metal frames over the period of years using standard costing system in its unit and has April month manufacturing variances as follows: Overhead variance 710 U Labor quantity variance U Labor price variance 510 U Materials quantity variance 840 F Materials price variance 1,430 U In addition, 8,500 units of product were sold at 8 per unit. Each unit sold had a standard cost of 4.Selling and administrative expenses were 8,290 for the month. Prepare an income statement for management for the month ended January 31, 2021. 930
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 4CE: Kavallia Company set a standard cost for one item at 328,000; allowable deviation is 14,500. Actual...
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Transcribed Image Text:Sara metal frames over the period of years using standard costing system in its unit and has
April month manufacturing variances as follows:
Overhead variance
710
U
Labor quantity variance
U
Labor price variance
U
Materials quantity variance
F
Materials price variance
1,430
U
In addition, 8,500 units of product were sold at 8 per unit. Each unit sold had a standard cost of 4.Selling and
administrative expenses were 8,290 for the month. Prepare an income statement for management for the
month ended January 31, 2021.
930
510
840
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