Dawson Toys, Limited, produces a toy called the Maze with the following standards: Direct materials: 7 microns per toy at $0.30 per micron Direct labor: 1.2 hours per toy at $7.10 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of $0.28 per micron. 24,875 of these microns were still in inventory at the end of the month. Direct labor. 7,000 direct labor-hours were worked at a cost of $51,800. Required:
Dawson Toys, Limited, produces a toy called the Maze with the following standards: Direct materials: 7 microns per toy at $0.30 per micron Direct labor: 1.2 hours per toy at $7.10 per hour During July, the company produced 5,500 Maze toys. The toy's production data for the month are as follows: Direct materials: 73,000 microns were purchased at a cost of $0.28 per micron. 24,875 of these microns were still in inventory at the end of the month. Direct labor. 7,000 direct labor-hours were worked at a cost of $51,800. Required:
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead
Section: Chapter Questions
Problem 10E: Standard unit cost and journal entries The normal capacity of Algonquin Adhesives Inc. is 40,000...
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