Standard Product Cost
Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:
Direct labor: | standard rate | $16.00 per hr. |
standard time per unit | 4 hrs. | |
Direct materials (oak): | standard price | $9.50 per bd. ft. |
standard quantity | 20 bd. ft. | |
Variable factory overhead: | standard rate | $2.40 per direct labor hr. |
Fixed factory overhead: | standard rate | $1.20 per direct labor hr. |
a. Determine the standard cost per dining room
table. If required, round your answer to two decimal places.
$per table
b. A standard cost system provides Atlas Furniture Company’s management a cost control tool using the principle of . Using this principle, cost deviations from standards can be investigated and corrected.
a. Standard cost = (16*4+20*9.50+2.40*4+1.2*4) = $268.40 per dining room table
b. Management by exception
Major
Standard Product Cost Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system....
Standard Product Cost Atlas Furniture Company manufactures designer home furniture. Atlas uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $28.00 per hr. standard time per unit 5.0 hrs. Direct materials (oak): standard price $12.00 per bd. ft. standard quantity 18 bd. ft. Variable factory overhead: standard rate $2.00 per direct labor hr. Fixed factory overhead: standard rate $3.80 per direct labor...
Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $22.00 per hr. 3.50 hrs standard time per unit Direct materials (oak) $9.50 per bd. ft standard price standard quantity 16 bd. ft standard rate Variable factory overhead: $3.20 per direct labor hr. standard rate $1.20 per direct labor hr...
Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $17.00 per hr. standard time per unit 3.00 hrs. Direct materials (oak): standard price $9.50 per bd. ft. standard quantity 19 bd. ft. Variable factory overhead: standard rate $2.40 per direct labor hr. Fixed factory overhead: standard rate $1.20 per...
Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $23.00 per hr. standard time per unit 3.50 hrs. Direct materials (oak): standard price $11.00 per bd. ft. standard quantity 16 bd. ft. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $0.80 per...
Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $19.00 per hr. standard time per unit 3.00 hrs. Direct materials (oak): standard price $12.50 per bd. ft. standard quantity 20 bd. ft. Variable factory overhead: standard rate $2.40 per direct labor hr. Fixed factory overhead: standard rate $0.80 per...
Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $25.00 per hr. standard time per unit 3.50 hrs. Direct materials (oak): standard price $9.00 per bd. ft. standard quantity 16 bd. ft. Variable factory overhead: standard rate $2.40 per direct labor hr. Fixed factory overhead: standard rate $0.80 per...
Standard Product Cost Sana Rosa Company manufactures unfinished home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $19.00 per hr. standard time per unit 2.5 hrs. Direct materials (oak): standard price $8.50 per bd. ft. standard quantity 17 bd. ft. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $1.20 per direct...
1. Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $22.00 per hr. standard time per unit 3.00 hrs. Direct materials (oak): standard price $12.00 per bd. ft. standard quantity 17 bd. ft. Variable factory overhead: standard rate $3.20 per direct labor hr. Fixed factory overhead: standard rate $0.80 per direct labor...
Sorrento uses a stan- E13-18 Standard product cost Sorrento Furniture Company manufactures unfinished oak furniture. Sorrento uses dard cost system. The direct labor, direct materials, and factory overhead standards for unfinished dining room table are as follows: $21 per hr. Direct labor: Standard rate Standard time per unit 2 hrs. Direct materials (oak): Standard price $9.25 per bd. ft. Standard quantity 20 bd. ft. Variable factory overhead: Standard rate $3.80 per direct labor hr. Fixed factory overhead: Standard rate $4.25...
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (4,250 bars) are as follows: Ingredient Quantity Price Cocoa 540 lbs. $0.40 per lb. Sugar 150 lbs. $0.60 per lb. Milk 120 gal. $1.70 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. $__per bar Standard Product Cost...