Strait Corporation uses the following standard costs for a single unit of product: $$\begin{array} { | l | l | }
\hline \text { Direct labor (5 hows @ \$12hour) } & \$ 60 \
\hline \text { Overhead (4 hours @ \$7hour) } & \$ 28 \
\hline
\end{array}$$ Actual data for the month showed overhead costs of $524,000 for 20,000 units produced.What is the difference between actual overhead costs and standard overhead costs allocated to products?

Question

Strait Corporation uses the following standard costs for a single unit of product: $$\begin{array} { | l | l | } 
\hline \text { Direct labor (5 hows @ \$12hour) } & \$ 60 \
\hline \text { Overhead (4 hours @ \$7hour) } & \$ 28 \
\hline
\end{array}$$ Actual data for the month showed overhead costs of $524,000 for 20,000 units produced.What is the difference between actual overhead costs and standard overhead costs allocated to products?

Quizplus · Accepted Answer

The Answer of  Strait Corporation uses the following standard costs for a single unit of product: $$\begin{array} { | l | l | } 
\hline \text { Direct labor (5 hows @ \$12hour) } & \$ 60 \
\hline \text { Overhead (4 hours @ \$7hour) } & \$ 28 \
\hline
\end{array}$$ Actual data for the month showed overhead costs of $524,000 for 20,000 units produced.What is the difference between actual overhead costs and standard overhead costs allocated to products?

Strait Corporation Uses the Following Standard Costs for a Single