The X Company manufactures widgets. It has developed the following standards per finished unit for direct materials and direct labor: Direct materials: 5 lbs. at
The X Company manufactures widgets. It has developed the following standards per finished unit for direct materials and direct labor: Direct materials: 5 lbs. at $5.00 per lb. Direct labor: 1 hour at $20.00 per hour Budgeted production in units: 20,000 units Actual production of finished units: 21,000 units Materials purchased: 120,000 lbs. at a total cost of $630,000. Materials price variance is recognized upon purchase. Direct materials used: 102,900 lbs. Direct labor used: 21,300 hours; actual cost $422,805. PREPARE JOURNAL ENTRY TO CLOSE VARIANCE ACCOUNTS INTO COST OF GOODS SOLD.
How it Works
It only takes a couple of minutes to fill in your details, select the type of paper you need (essay, term paper, etc.), give us all necessary information regarding your assignment.
Once we receive your request, one of our customer support representatives will contact you within 24 hours with more specific information about how much it'll cost for this particular project.
After receiving payment confirmation via PayPal or credit card – we begin working on your detailed outline, which is based on the requirements given by yourself upon ordering.
Once approved, your order is complete and will be emailed directly to the email address provided before payment was made!