The geurtz company uses standard costing the company makes, Ask an Expert

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The Geurtz Company uses standard costing. The company makes and sells a single product called a Roff. The following data are for the month of August:

• Actual cost of direct material purchased and used: $65,560

• Material price variance: $5,960 unfavorable

• Total materials variance: $22,360 unfavorable

• Standard cost per pound of material: $4

• Standard cost per direct labor-hour: $5

• Actual direct labor-hours: 6,500 hours

• Labor efficiency variance: $3,500 favorable

• Standard number of direct labor-hours per unit of Roff: 2 hours

• Total labor variance: $400 unfavorable

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9795131

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