(Answered) Problemaccording to standard production costs it should

Accounting

Problem

According to standard production costs, it should cost JT Engineering $14,000 in direct materials, $12,600 in direct labor, and $6,200 in total overhead to produce 1,000 widgets. During the most recent period, JT actually spent $13,860 in direct materials, $12,420 in direct labor, and $6,500 in total overhead. What is JT's total variance? Is it favorable or unfavorable?

A : $180 favorable B : $40 unfavorable C : $32 unfavorable D : $20 favorable

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92595175
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - dillon corporation manufactures computer

Question - Dillon Corporation manufactures computer monitors. The company uses a job order costing system, using a plant-wide rate for allocating overhead costs. The current cost method allocates overhead on the basis of ...

Question - chase has a 42500 line of credit which charges

Question - Chase has a $42,500 line of credit which charges an annual percentage rate of prime rate plus 5%. His starting balance on June 1 was $2,550. On June 4, he borrowed $5,300. On June 9, Chris made a payment of $8 ...

Question - pina corporation purchased a special tractor on

Question - Pina Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Pina should pay $20,180 at the time of purchase and $5,020 at the end of each of the next 8 years. The ...

Question - the following information relates to rem corps

Question - The following information relates to Rem Corp's accounts receivable for 2015: Accounts receivable, 1/1/15 $ 500,000 Credit sales for 2015 2,000,000 Sales returns for 2015 60,000 Accounts written off during 201 ...

Question - in 2002 the executives at telecommunications

Question - In 2002, the executives at telecommunications giant WorldCom perpetrated accounting fraud that led to the largest bankruptcy in US history. The company improperly booked about $4 billion as capital expenditure ...

Question - assume that green cos total assets at the end of

Question - Assume that Green Co.'s total assets at the end of the prior year and at the end of the current year were $937,000 and $1,019,000, respectively. Calculate ROI (based on operating income) for the current year u ...

Question - on january 1 2017 boston enterprises issues

Question - On January 1, 2017, Boston Enterprises issues bonds that have a $3,400,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par. Explain how it ...

Management accounting assignment -assignment topic -

Management Accounting Assignment - Assignment Topic - Management Accounting Principles and Effective Planning Tools for Managing Accounts Aim of this assignment - The overall aim of this unit is to introduce the fundamen ...

Question - eastern manufacturing is involved with several

Question - Eastern Manufacturing is involved with several situations that possibly involve contingencies. Each is described below. Eastern's fiscal year ends December 31, and the 2018 financial statements are issued on M ...

Question - a fire destroys all of the merchandise of

Question - A fire destroys all of the merchandise of Bridgeport Company on February 10, 2017. Presented below is information compiled up to the date of the fire. Inventory, January 1, 2017$395,100 Sales revenue to Februa ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert