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

Question - Q10 Arrow Industries employs a standard cost system in which direct materials inventory is carried at
standard cost. Arrow has established the following standards for the prime costs of one unit of
product. Use the data for questions 10 to 14. Standard Standard Standard Quantity Price Cost Direct
materials 8 pounds $1.80 p/ pd $14.40 Direct labor 0.25 hour $8.00 p/ hr $2.00 During May, Arrow
purchased 160,000 pounds of direct material at a total cost of $304,000. The total direct labor wages
for May were $37,800. Arrow manufactured 19,000 units of product during May using 142,500 pounds
of direct material and 5,000 direct labor hours. The direct material price variance for May is (note that
the purchase price variance is based on the ...Read More

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