Business, 16.04.2020 02:31 kinz5550

Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 ounces at $20 per ounce Direct labor: 1.4 hours at $12.50 per hour Variable manufacturing overhead: 1.4 hours at 3.50 per hour Variable manufacturing overhead is applied on the basis of standard direct labor-hours. The following data are available for October: 3,750 units of compound were produced during the month. There was no beginning direct materials inventory. Direct materials purchased: 12,000 ounces for $225,000. The ending direct materials inventory was 2,000 ounces. Direct labor-hours worked: 5,600 hours at a cost of $67,200. Variable manufacturing overhead costs incurred amounted to $18,200. Variable manufacturing overhead applied to products: $18,375. The materials quantity variance for October is: $52,500 Unfavorable $52,500 Favorable $12,500 Unfavorable $12,500 Favorable

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Ravena Labs., Inc. makes a single product which has the following standards: Direct materials: 2.5 o...

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