Milar Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 6.0 pounds $ 5.50 per pound Direct labor 0.8 hours $24.00 per...

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Extracted text: Milar Corporation makes a product with the following standard costs: Standard Quantity or Standard Price or Hours Rate Direct materials 6.0 pounds $ 5.50 per pound Direct labor 0.8 hours $24.00 per hour Variable overhead 0.8 hours $11.00 per hour In January the company produced 3,350 units using 13,400 pounds of the direct material and 2,800 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct materlal at a cost of $14,160. The actual direct labor cost was $66,796 and the actual varlable overhead cost was $29,508. The company applies varlable overhead on the basis of direct labor-hours. The direct materlals purchases varlance is computed when the materlals are purchased. The labor rate varlance for January Is: Multiple Choice $404 F $404 U $2.476 U $2.476 F


Extracted text: Gipple Corporation makes a product that uses a materlal with the quantity standard of 7.8 grams per unit of output and the price standard of $6.50 per gram. In January the company produced 3,900 units using 25,370 grams of the direct material. During the month the company purchased 27,900 grams of the direct material at $6.70 per gram. The direct materlals purchases variance is computed when the materials are purchased. The materlals price varlance for January Is: Multiple Cholce $6,084 F $5.580 U $6,084 U $5,580 F