MC Qu. 58 Hurren Corporation makes a product with the following standard costs: Hurren Corporation makes a product with the following standard costs: Inputs Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 3.8 grams $4.00 per gram $15.20 Direct labor 1.3 hours $13.00 per hour $16.90 Variable overhead 1.3 hours $4.00 per hour 5.20 The company reported the following results concerning this product in June. Originally budgeted output 7,700 units Actual output 7,600 units Raw materials used in production 28,320 grams Actual direct labor-hours 3,900 hours Purchases of raw materials 31,200 grams Actual price of raw materials purchased $4.10 per gram Actual direct labor rate $13.90 per hour Actual variable overhead rate $3.70 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased. The materials price variance for June is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $3,120 F $2,848 U $3,120 U $2,848 F

Exercise 15-7 crawford corporation incurred the following transactions. 1. purchased raw materials on account $53,000. 2. raw materials of $45,200 were requisitioned to the factory. an analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. manufacturing overhead costs incurred on account were $81,700. 6. depreciation on the company’s office building was $8,100. 7. manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. goods costing $89,400 were completed and transferred to finished goods. 9. finished goods costing $76,000 to manufacture were sold on account for $105,100. journalize the transactions. (credit account titles are automatically indented when amount is entered. do not indent manually.) no. account titles and explanation debit credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (to record the sale) (to record the cost of the sale) click if you would like to show work for this question: open show work