1. The Sterling Company uses a standard cost system in which manufacturing overhead costs are applied to the units of the company’s single product on the basis of direct labor-hours (DLHs). The standard cost card for the product follows: Standard Cost Card-per unit of product: Direct materials, 4 yards at […]
During 2013, Crawford Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Crawford for a lump sum of $65,000 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types […]