Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.8 ounces $ 3.00 per ounce Direct labor 0.5 hours $17.40 $12.00 per hour $6.00 Variable overhead 0.5 hours $5.00 per hour $2.50 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 1,212 Favorable 3,800 units 3,400 units 22,000 ounces 21,900 ounces The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases va hen the materials are purchased. e variable overhead rate variance for June is: ,200 Favorable 520 hours $ 42,500 $ 13,800 $ 3,800

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.8 ounces $ 3.00 per ounce Direct labor 0.5 hours $17.40 $12.00 per hour $6.00 Variable overhead 0.5 hours $5.00 per hour $2.50 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 1,212 Favorable 3,800 units 3,400 units 22,000 ounces 21,900 ounces The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases va hen the materials are purchased. e variable overhead rate variance for June is: ,200 Favorable 520 hours $ 42,500 $ 13,800 $ 3,800

Name: 15 Tharaldson Corporation makes a product with the following standard
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Description: 15 Tharaldson Corporation makes a product with the following standard costs:Standard Quantity or Hours Standard Price or Rate Standard Cost Per UnitDirect materials 5.8 ounces$ 3.00 per ounceDirect labor 0.5 hours$17.40$6.00$ 12.00 per hourVariable o

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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