Reference no: EM132549689
Apple Corp. produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor hours. The standard cost card for one unit of product is as follows:
(1) (2)
Standard Standard Standard
Quantity Price Cost
Inputs or Hours or Rate (1) x (2)
Direct Materials 6 oz. $0.50 per oz. $3.00
Direct Labor 0.6 hours $30.00 per hour 18.00
Variable Manufacturing Overhead 0.6 hours $10.00 per hour 6.00
Total Standard Cost Per Unit $27.00
During June, 2000 units were produced. The costs associated with June's operations were as follows:
Materials purchased: 18,000 oz. at $0.60 per oz.....................$10,800
Materials used in production 18,000 oz. .............................. -
Direct Labor: 1,100 hours at $30.50 per hour.........................$33,500
Variable Manufacturing overhead costs incurred.....................$12,980
Required:
Question 1: Compute the direct materials, direct labor, and variable manufacturing overhead variances.
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