FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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20
TB MC Qu. 10-71 Thomas Enterprises...
Thomas Enterprises purchased 58,300 pounds (cost = $378,950) of direct material to be used in the manufacture of
the company's sole product. According to the production specifications, each completed unit requires five pounds of
direct material at a standard cost of $6.80 per pound. Direct materials consumed by the end of the period totaled
55,800 pounds in the manufacture of 11,400 finished units.
5
Dints
еВook
An examination of Thomas' payroll records revealed that the company worked 23,100 labor hours (cost = $272,580)
during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of
$12.40 per hour. Use the information to compute the following variances.
Print
References
Thomas' direct-labor rate variance was:
Multiple Choice
$13,860 F.
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Transcribed Image Text:20 TB MC Qu. 10-71 Thomas Enterprises... Thomas Enterprises purchased 58,300 pounds (cost = $378,950) of direct material to be used in the manufacture of the company's sole product. According to the production specifications, each completed unit requires five pounds of direct material at a standard cost of $6.80 per pound. Direct materials consumed by the end of the period totaled 55,800 pounds in the manufacture of 11,400 finished units. 5 Dints еВook An examination of Thomas' payroll records revealed that the company worked 23,100 labor hours (cost = $272,580) during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of $12.40 per hour. Use the information to compute the following variances. Print References Thomas' direct-labor rate variance was: Multiple Choice $13,860 F. < Prev 20 of 24 Next >
Check my
$13,860 F.
$13,860 U.
$3,720 F.
$3,720 U.
None of the answers is correct.
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Transcribed Image Text:Check my $13,860 F. $13,860 U. $3,720 F. $3,720 U. None of the answers is correct.
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