GH Manufactures a Product Using Skilled Labour and High Quality

GH manufactures a product using skilled labour and high quality materials. The company operates a standard costing system and a just-in-time (JIT) purchasing and production system. The standard selling price and variable costs for one unit of the product are as follows: 11ec37eb_8baa_0446_97b9_3b1b54f340ae__00 Prepare a statement that reconciles the budgeted contribution with the actual contribution for October. Your statement should show the variances in as much detail as possible. What was the actual contribution for October?

A) $ 1,324,000
B) $ 1,414,000
C) $ 1,594,000
D) $ 1,494,000
E) $ 1,198,000

Correct Answer:

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