Hal’s Heating produces furnaces for commercial buildings. The company’s master budget shows the following standards information....
Hal’s Heating produces furnaces for commercial buildings. The company’s master budget shows the following standards information.
|
Expected production for January: |
300 furnaces |
|
Direct materials |
3 heating elements at $40 per element |
|
Direct labor |
35 hours per furnace at $18 per hour |
|
Variable manufacturing overhead |
35 direct labor hours per furnace at $15 per hour |
- Calculate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead.
- Assume Hal’s Heating produced 320 furnaces during January. Prepare a flexible budget for direct materials, direct labor, and variable manufacturing overhead.
Homework Answers
A) Standard cost pet unit
= Direct Materials + Direct Labor + Variable Manufacturing Overhead
= (3*40)+(35*18)+(35*15)
= 120+630+525
= 1275
B)
| Direct materials (320*120) | 38,400 |
| Direct labor (320*630) | 201,600 |
| Variable Manufacturing Overhead (320*525) | 168,000 |
| Total | 408,000 |
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