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What is the total standard cost

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Problem - The following costs are related to questions 1- 4: A company's actual and standard costs of production are as follows:

 

Standard Costs (TL)

Actual Costs (TL)

Direct Materials

30,000

31,000

Direct Labor

20,000

18,000

General Production Expenses

15,000

14,000

Q1. What is the total standard cost?

a) TL 65,000 b) TL 64,000 c) TL 63,000 d) TL 62,000 e) TL 61,000

Q2. What is the total actual cost?

a) TL 65,000 b) TL 64,000 c) TL 63,000 d) TL 62,000 e) TL 61,000

Q3. What is the variance between the actual and the standard costs for direct materials?

a) TL 1,000 b) TL 2,000 c) TL 3,000 d) TL 4,000 e) TL 5,000

Q4. What is the variance between the actual and the standard costs for direct labor?

a) TL 1,000 b) TL 2,000 c) TL 3,000 d) TL 4,000 e) TL 5,000

Reference no: EM132837534

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