Epley Corporation makes a product with the following standard costs: Direct materials. Direct labor. Variable overhead.. Standard Quantity or Hours 3.5 pounds 0.8 hours 0.8 hours Standard Price or Rate $3.00 per pound $19.00 per hour $8.00 per hour In July the company produced 3,300 units using 12,240 pounds of the direct material and 2,760 direct labor-hours. During the month, the company purchased 13,000 pounds of the direct material at a cost of $35,100. The actual direct labor cost was $51,612 and the actual variable overhead cost was $20,148.

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1.48K viewsJuly 6, 2017

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Darshita 6.14K July 6, 2017 0 Comments

Epley Corporation makes a product with the following standard costs:

Direct materials. Direct labor. Variable overhead.. Standard Quantity or Hours 3.5 pounds 0.8 hours 0.8 hours Standard Price or Rate $3.00 per pound $19.00 per hour $8.00 per hour

In July the company produced 3,300 units using 12,240 pounds of the direct material and 2,760 direct labor-hours. During the month, the company purchased 13,000 pounds of the direct material at a cost of $35,100. The actual direct labor cost was $51,612 and the actual variable overhead cost was $20,148.

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 materials price variance for July is:

$3,465 U

$3,900 U

$3,900 F

$3,465 F

1 Answer

score 0 · Answer 1 · 2017-07-06T04:21:41+00:00

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