Pardoe, Inc., manufactures a single product in
by | Mar 18, 2020 | Uncategorized
Pardoe, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product:
|
Standard Quantity |
Standard Price or Rate |
Standard Cost |
Direct materials |
2.5 pounds |
$6.50 per pound |
$16.25 |
Direct labor |
0.6 hours |
$20 per hour |
$12.0 |
Variable manufacturing overhead |
0.6 hours |
$4.75 per hour |
$2.85 |
During March, the following activity was recorded by the company: |
|
• The company produced 5,800 units during the month. |
• A total of 18,500 pounds of material were purchased at a cost of $51,800. |
• There was no beginning inventory of materials on hand to start the month; at the end of the month,
3,700 pounds of material remained in the warehouse.
|
• During March, 3,680 direct labor-hours were worked at a rate of $20.50 per hour. |
• Variable manufacturing overhead costs during March totaled $10,688. |
|
The direct materials purchases variance is computed when the materials are purchased. |
|
The materials quantity variance for March is?
breakdown of calculation please provide
|
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