Levine Inc., which produces a single product, had prepared the following standard cost sheet for one unit of the product.
Direct materials (8 pounds at $3.30 per pound) $26.40
Direct labor (1 hour at $12.00 per hour) $12.00
During the month of April, the company manufactures 240 units and incurs the following actual costs.
Direct materials purchased and used (2,300 pounds) $8,050
Direct labor (280 hours) $3,304
Answers: 2
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