Business, 14.10.2020 14:01 hemolelekeakua
Ravena Labs., Inc. makes a single product which has the following standards: Variable manufacturing overhead is applied on the basis of direct labor hours. The following data are available for October:
β’ 3,750 units of compound were produced during the month.
β’ There was no beginning direct materials inventory.
β’ The ending direct materials inventory was 2,000 ounces.
β’ Direct materials purchased: 12,000 ounces for $225,000.
β’ Direct labor hours worked: 5,600 hours at a cost of $67,200.
β’ Variable manufacturing overhead costs incurred amounted to $18,200.
β’ Variable manufacturing overhead applied to products: $18,375.
The direct materials quantity variance for October is:
a. $52,500 unfavorable
b. $52,500 favorable
c. $12,500 unfavorable
d. $12,500 favorable
Answers: 3
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Ravena Labs., Inc. makes a single product which has the following standards: Variable manufacturing...
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