Standard Cost System-Using Variance Data

question 63

Essay

Standard cost system-using variance data
During its first month of operations, the Beech Company charged Work-in-Process Inventory with $40,000 of direct materials, $46,000 of direct labor costs, and $80,000 of manufacturing overhead costs. Beech Company uses a standard cost system, and the variances at the end of this first month are as follows:
(a) Compute the actual cost of direct materials placed into production during the month. $________________
(b) Compute the actual cost of direct labor hours worked during this month. $________________
(c) Compute the actual cost of manufacturing overhead for this month. $________________
(d) Assume that the balance in the Work-in-Process account is $6,000 at the end of this first month. If total standard unit cost is $20 per unit, the number of units completed during this month and transferred to Finished Goods Inventory is _______________ units.

Identify the challenges and advantages of working as a freelance paralegal.

Recognize the different areas of law in which paralegals can specialize and work.

Describe the legal and ethical considerations applicable to paralegals.

Distinguish between different legal professionals and their roles within the legal system.

---

Definitions:

Accommodation

In psychology, it refers to the cognitive process of revising existing cognitive schemas, perceptions, and understanding so that new information can be incorporated.

Lens

A curved piece of glass or other transparent material that focuses or refracts light, used in optical devices like glasses, cameras, and microscopes.

Retina

A thin layer of tissue at the back of the eye that contains the cells responsible for converting light into neural signals for vision.

Saturation

In color theory, the intensity of a color expressed as the degree to which it differs from white.