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Texas A&M University-Commerce Operations And Supply Chain Management Assignment Help - Cole laboratories

Question - Cole laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard costs for one bag of Fastgro as follows: Standard Standard Cost Quantity per Bag Direct material......................................... 20 pounds $8.00 Direct labor............................................. 0.1 hours $1.10 Variable overhead.................................... 0.1 hours $0.40 The company had no beginning inventories of any kind on Jan. 1. Variable overhead is applied to production on the basis of standard direct labor-hours. During January, the following activity was recorded by the company: • Production of Fastgro: 4,000 bags • Direct materials purchased: 85,000 pounds at a cost of $32,300 • Direct l ...Read More

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