Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.6 ounces 0.3 hours 0.3 hours Direct materials Direct labor Variable overhead 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 Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost Multiple Choice $6,600 F $6,600 U Standard Price or Rate $ 3.00 per ounce $ 10.00 per hour $ 7.00 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 labor efficiency variance for June is: $8,800 F $8,800 U 4,000 units 4,000 units 22,000 ounces 22,700 ounces 540 hours $ 42,700 $ 14,000 $ 4,000 Standard Co: Per Unit $ 16.80 $ 3.00 $ 2.10

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours 5.6 ounces 0.3 hours 0.3 hours Direct materials Direct labor Variable overhead 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 Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost Multiple Choice $6,600 F $6,600 U Standard Price or Rate $ 3.00 per ounce $ 10.00 per hour $ 7.00 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 labor efficiency variance for June is: $8,800 F $8,800 U 4,000 units 4,000 units 22,000 ounces 22,700 ounces 540 hours $ 42,700 $ 14,000 $ 4,000 Standard Co: Per Unit $ 16.80 $ 3.00 $ 2.10

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Description: Tharaldson Corporation makes a product with the following standard costs:Standard Quantity orHours5.6 ounces0.3 hours0.3 hoursDirect materialsDirect laborVariable overheadThe company reported the following results concerning this product in June.Ori

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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Please do not give solution in image format thanku
Please do not give solution in image format thanku