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Category > Accounting Posted 17 Aug 2017 My Price 9.00

Oddo Corporation

Oddo Corporation makes a product with the following standard costs:

Standard Quanity/hours Standard Price/rate Standard cost per unit   

Direct material 3.0 ounces $7 per ounce $21

Direct Labor 0.7 hours $20 per hour $14

Variable overhead 0.7 hours $5 $3.5

The company reported the following results concerning this product in December

The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.

Originally budgeted output 4400 units

Actual output 4200 units

Raw materials used inproduction 12820 ounces

actual direct labor hours 3160 hours

purchases of raw material $6.8 per ounce

actual direct labor rate $18.30 per hour

Actual variable overhead rate $5.10 per hour



The labor efficiency variance for December is:

   

$4,026 F

   

$4,026 U

   

$4,400 F

   

$4,400 U

 

Answers

(5)
Status NEW Posted 17 Aug 2017 07:08 PM My Price 9.00

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