Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2...

Question

Question

Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Similar Homework Help Questions

Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2...

Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. The variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. What is the standard product cost for product M? Direct material Direct labor Variable overhead Fixed overhead Standard product cost per unit
Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2...

Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $8 per pound and 0.5 hour of direct labor costing, $14 per hour. The variable overhead rate is $12 per direct labor hour, and the fixed overhead rate is $16 per direct labor hour. What is the standard product cost for product M? Direct material Answer Direct labor Answer Variable overhead Answer Fixed overhead Answer Standard product cost per...
Standard Product Costs Harrison Company manufactures product Q in its factory. Production of Q requires 3...

Standard Product Costs Harrison Company manufactures product Q in its factory. Production of Q requires 3 pounds of material T, costing $7 per pound and 2 hours of direct labor, costing $10 per hour. The variable overhead rate is $6 per direct labor hour, and the fixed overhead rate is $9 per direct labor hour. What is the standard product cost for product Q? Direct material Direct labor Variable overhead Fixed overhead Standard product cost per unit $

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost...

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $4.60 per standard direct labor-hour and fixed manufacturing overhead should be $1,935,000 per year. The company’s product requires 4 pounds of material that has a standard cost of $9.50 per pound and 1.5 hours of direct labor time that has a standard rate of $13.30 per hour. The company planned...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost...

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.80 per direct labor-hour and the budgeted fixed manufacturing overhead is $3,087,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $12.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.90 per...
Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is...

Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $3.75 per pound. The company produced 15,000 units that required 36,000 pounds, which were purchased at $4.00 per pound. The product also requires 4 standard hours per unit at a standard hourly rate of $20 per hour. The 15,000 units required 61,800 hours at an hourly rate of $19.85 per hour. In addition, the standard variable overhead cost per unit is $0.90 per hour...

Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard...

Direct Materials Variances Bellingham Company produces a product that requires 6 standard pounds per unit. The standard price is $10 per pound. If 6,300 units required 36,300 pounds, which were purchased at $10.3 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as negative number using a minus sign and an unfavorable variance as a positive number. 10,890 Unfavorable a. Direct materials price variance b....
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost...

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $3.20 per direct labor-hour and the budgeted fixed manufacturing overhead is $864,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $6.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.60 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost...

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $3.60 per direct labor-hour and the budgeted fixed manufacturing overhead is $1,140,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $7.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.80 per...

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $10 per pound $ 50 Direct labor: 3 hours at $17 per hour 51 Variable overhead: 3 hours at $7 per hour 21 Total standard cost per unit $ 122 The planning budget for March was based on producing and selling 24,000 units. However, during March the company...

Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2...

Homework Answers

Request Answer!