Business, 09.04.2021 01:30 jacesmokesloud7254

Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the following standard costs for one of their most popular products. Budgeted quantity Budgeted price Direct materials 4 pounds $7.25 per pound Direct labor 0.60 hours $17.00 per hourDuring September, MCP produced and sold 2,000 units using 8,200 pounds of direct materials at an average cost per pound of $7.00 and 1,160 direct labor hours at an average wage of $17.50 per hour. The direct labor efficiency variance during September is . $600 favorable $700 unfavorable $680 favorable $100 unfavorable

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Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017...

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