On July 1,Ossege Company began to manufacture a new product.The company uses a standard cost system to account for manufacturing costs.The standard costs per unit for the new product are as follows: In addition,the following data came from Ossege's books for the month of July: There were no beginning or ending balances in Materials.
Compute each of the following items for Ossege for the month of July:
1)Standard quantity of raw materials allowed for actual production.
2)Actual quantity of raw materials used.
3)Standard direct labor hours allowed.
4)Actual direct labor hours worked.
5)Actual direct labor rate.
6)Actual total overhead.

Question

On July 1,Ossege Company began to manufacture a new product.The company uses a standard cost system to account for manufacturing costs.The standard costs per unit for the new product are as follows:  In addition,the following data came from Ossege's books for the month of July:  There were no beginning or ending balances in Materials.
Compute each of the following items for Ossege for the month of July:
1)Standard quantity of raw materials allowed for actual production.
2)Actual quantity of raw materials used.
3)Standard direct labor hours allowed.
4)Actual direct labor hours worked.
5)Actual direct labor rate.
6)Actual total overhead.

Quizplus · Accepted Answer

The Answer of On July 1,Ossege Company began to manufacture a new product.The company uses a standard cost system to account for manufacturing costs.The standard costs per unit for the new product are as follows:  In addition,the following data came from Ossege's books for the month of July:  There were no beginning or ending balances in Materials.
Compute each of the following items for Ossege for the month of July:
1)Standard quantity of raw materials allowed for actual production.
2)Actual quantity of raw materials used.
3)Standard direct labor hours allowed.
4)Actual direct labor hours worked.
5)Actual direct labor rate.
6)Actual total overhead.

On July 1,Ossege Company Began to Manufacture a New Product