A Partial Standard Cost Card for the Single Product Produced

question 400

Essay

A partial standard cost card for the single product produced by Mercer Company is given below:

Direct materials: 3 pounds @ $8 per pound
Direct labor: ? hours @ ? per hour

Last period the company produced 4,000 units of product.Cost and other data associated with this production are given below:
The direct materials purchases variance is computed when the materials are purchased.
Required:
a.Determine the number of pounds of direct materials purchased and used during the period.
b.Determine the materials quantity variance.
c.Determine the standard direct labor rate per direct labor hour.
d.Determine the standard hours allowed for the production of the period.

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Definitions:

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Neurological System

The system of the body that includes the brain, spinal cord, and a network of nerves; responsible for transmitting signals between different parts of the body.

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An aspect of intelligence characterized by the ability to use knowledge, experience, and learned skills.

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