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San Diego State University Operations And Supply Chain Management Assignment Help - Products

Question - Thompson Company uses a standard cost system for its single product. The following data are available: Actual experience for the current year: Purchases of raw materials (12,000 yards at $12.00 per yard) $ 144,000 Raw materials used 19,000 yards Direct labor costs (10,100 hours at $9.00 per hour) $ 90,900 Actual variable overhead cost $ 84,020 Units produced 12,500 units Standards per unit of product: Raw materials 1.8 yards at $14.00 per yard Direct labor .8 hours at $8.50 per hour Variable overhead $7.00 per direct labor hour Required: Compute the following variances for raw materials, direct labor, and variable overhead, assuming that the price variance for materials is recognized at point of purchase: (I ...Read More

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