Lacrue Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateDirect materials 6.3ounces$5.50per ounceDirect labor 0.40hours$22.00per hourVariable manufacturing overhead 0.40hours$3.80per hourThe standard amount of materials allowed for the actual output is closest to:
A. 23,310 ounces
B. 23,300 ounces
C. 23,940 ounces
D. 22,687 ounces
Answer: A
You might also like to view...
When merchandise is acquired on account and the perpetual system of inventory is used, the journal entry for the purchase would include
a. debiting Purchases and crediting Accounts Payable. b. debiting Accounts Payable and crediting Merchandise Inventory. c. debiting Merchandise Inventory and crediting Accounts Payable. d. debiting Accounts Payable and crediting Purchases.
The material purchases budget tells a manager all of the following except the
a. quantity of material to be purchased each period. b. quantity of material to be consumed each period. c. cost of material to be purchased each period. d. cash payment for material each period.
Which of the following statements regarding "quality" is true?
A) Over the past 20 years or so, the demand by customers for quality products and services at an affordable price has drastically changed the way companies do business. B) Improving quality increases sales through higher customer satisfaction and demand, reduces costs, and increases the long-term profitability of companies. C) Companies have focused on improving the quality of the products or the services they sell through a variety of initiatives, such as total quality management (TQM), market-driven quality, and strategic quality management. D) All of these are true.
Property settlements made incident to a divorce have no immediate tax consequences; that is, the transfer from one spouse to another is not taxable.
Answer the following statement true (T) or false (F)