Tharaldson Corporation makes a product with the following standard costs Standar

Question

Tharaldson Corporation makes a product with the following standard costs Standard Standard Quantity or Standard Price or Cost Per Unit Hours 5.5 ounces 0.6 hours 0.6 hours Rate Direct materials Direct labor Variable overhead $ 2.00 per ounce $11.00 per hour $ 8.00 per hour $11.00 $ 6.60 $ 4.80 The company reported the following results concerning this product in June. Oriqinally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,100 units 4,100 units 20,500 ounces 21,600 ounces 4,800 hour $42,800 $14,100 $ 4,050

Explanation / Answer

Materials price variance = 42800-(21600*2)= 400 F

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