Question

(1). P&G company produces many products for household use. Company sells products to
storekeepers as well as to customers. Detergent-DX is one of the products of P&G. It is a
cleaning product that is produced, packed in large boxes and then sold to customers and
storekeepers
P&G uses a traditional standard costing system to control costs and has established
the following materials, labor and overhead standards to produce one box of
Detergent-DX:
Direct materials: 1.5 pounds Rs. 12 per pound: $18.00
Direct labor; 0.6 hours $24 per hour: $14.40
Variable manufacturing overhead; 0.6 hours @ $5.00: $3.00
During August 2012, company produced and sold 3,000 boxes of Detergent-DX.
8,000 pounds of direct materials were purchased @ $11.50 per pound. Out of these
8,000 pounds, 6,000 pounds were used during August. There was no inventory at the
beginning of August. 1600 direct labor hours were recorded during the month at a
cost of $40,000. The variable manufacturing overhead costs during August totaled
$7.200.
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Answer 1

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