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27. The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $5 1 answer below » 27. The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $5 per pound Direct labor: 2 hours per unit @ $10 per hour Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. (Data not shown here, but includes information on units produced, direct material used and purchased, direct labor cost, and variable manufacturing costs) The company applies variable manufacturing overhead to View complete question » 27. The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $5 per pound Direct labor: 2 hours per unit @ $10 per hour Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. (Data not shown here, but includes information on units produced, direct material used and purchased, direct labor cost, and variable manufacturing costs) The company applies variable manufacturing overhead to products on the basis of standard direct labor-hours. The labor efficiency variance is: View less » Jul 28 2015 04:24 PM
