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Author Question: Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In ... (Read 28 times)

clmills979

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on: Mar 6, 2021
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 quantityBudgeted price
Direct materials1 pounds$5.40 per pound
Direct labor0.50 hours$13.00 per hour

During September, MCP produced and sold 1,000 units using 1,300 pounds of direct materials at an average cost per pound of $5.00 and 480 direct labor hours at an average wage of $13.15 per hour.

September's direct material flexible-budget variance is ________.
◦ $400 unfavorable
◦ $120 favorable
◦ $1,100 unfavorable
◦ $520 favorable
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by clmills979 on Mar 6, 2021

aloop

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Reply #1 on: Mar 6, 2021
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clmills979

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Reply 2 on: Mar 6, 2021
Excellent

raili21

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Wow, this really help

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