The odle company makes and sells a single product called a

Reference no: EM13604179

The Odle Company makes and sells a single product called a Kitt. Odle uses a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor-hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred:

• Purchased 17,000 pounds of material at a total cost of $190,000.

• Used 15,000 pounds of material to produce 2,400 Kitts.

• Used 1,900 hours of direct labor time at a total cost of $38,000. To record the purchase of direct materials, the general ledger would include what kind of entry to the Materials Price Variance Account?

Reference no: EM13604179

Questions Cloud

The amount of budgeted overhead costs at normal capacity : the predetermined overhead rate for weed-b-gone is 10 comprised of a variable overhead rate of 6 and a fixed rate of

The standard predetermined overhead rate used in setting : the standard predetermined overhead rate used in setting the standard overhead cost is determined by dividing question

Calculation of net income from the change in stockholders : calculation of net income from the change in stockholders equity. presented below is certain information pertaining to

During the year chester had the following transactions : during the year chester had the following transactions involving capital assets gain on the sale of an arrowhead

The odle company makes and sells a single product called a : the odle company makes and sells a single product called a kitt. odle uses a standard costing system. each kitt has a

A 10-year 12 1000 bond that pays dividends quarterly can be : a 10-year 12 1000 bond that pays dividends quarterly can be purchased for 900. if the bond is purchased and pays as

What is the result if the amount of net income for the year : what is the result if the amount of net income for the year is less than the amount of dividends paid? athe amount of

Harry company is considering two different mutually : harry company is considering two different mutually exclusive capital expenditure proposals. project a will cost

Triangle business service inc tbs is a delivery service : triangle business service inc. tbs is a delivery service specializing in small parcels envelopes and packages. tbs

User Account

All Pages