Homework Answers
Calculate standard cost
| Direct material (2.52*6.76) | 17.04 |
| Direct labor (6.02*10) | 60.20 |
| Overhead (6.02*11) | 66.22 |
| Standard cost per unit | 143.46 |
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Do It! Review 25-1 Larkin Company accumulated the following standard cost data concerning product I-Tal Direct...
Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.00...
Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.00 pounds at $6.44 per pound Drect labor per unit: 8.24 hours at 515 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $25.50 per direct labor hour Compute the standard cost of one unit of product i-Tal. (Round answer to 2 decimal places, e., 2.75.) Standard cost
Question 9 Blossom Company accumulated the following standard cost data concerning product I-Tal. Direct materials per...
Question 9
Blossom Company accumulated the following standard cost data
concerning product I-Tal.
Direct materials per unit: 3.00 pounds at $4.50 per pound
Direct labor per unit: 8.60 hours at $15 per hour
Manufacturing overhead: Allocated based on direct labor hours
at a predetermined rate of $22.50 per direct labor hour
Compute the standard cost of one unit of product I-Tal.
(Round answer to 2 decimal places, e.g.
2.75.)
Standard cost
$
Question 1 View Policies Current Attempt in Progress Tang Company accumulates the following data concerning raw...
Question 1 View Policies Current Attempt in Progress Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials-net purchase price $2.50, freight- in $0.30, and receiving and handling $0.20. (2) Quantity per gallon of finished product-required materials 3.60 pounds, allowance for waste and spoilage 0.90 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per pound of raw materials. $ (b)...
tem. In 2020, the company produced 27,900 units. Each unit took several pounds of direct materials ndar...
tem. In 2020, the company produced 27,900 units. Each unit took several pounds of direct materials ndard hourly rate of $13.00. Normal capacity was 49,700 direct labor hours. During the year, 1.30.300 pounds and 1.6 standard hours of direct labor at a purchased at $0.93 per pound. All materials purchased were used during the year What was the standard cost per unit of product? (Round answer to 2 decimal places, e-g. 2.75. $ Standard cost per unit If the 2.75.)...
81) Assume the following information appears in the standard cost card for a company that makes...
81) Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or hours Standard Price or Rate Standard Cost Direct materials 5 pounds $ 11.00 per pound $ 55.00 Direct labor 2 hours $ 17.00 per hour $ 34.00 Variable manufacturing overhead 2 hours $ 3.00 per hour $ 6.00 During the most recent period, the following additional information was available: 19,200 pounds of material was purchased at a cost...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $5.40 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,679,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $11.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.70 per hour. The company planned to operate at a...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $2.80 per direct labor-hour and the budgeted fixed manufacturing overhead is $612,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $5.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.40 per hour. The company planned to operate at a...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $3.40 per direct labor hour and the budgeted fixed manufacturing overhead is $999.000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $6.50 per pound. The standard direct labor-hours per unit is 15 hours and the standard labor rate is $12.70 per hour. The company planned to operate at...
Problem 23- Rogen Corporation manufactures a single product. The standard cost er unit of product is...
Problem 23- Rogen Corporation manufactures a single product. The standard cost er unit of product is shown below Direct materiai-1 pound plastic at $5.00 per pound $6.00 Direct labor0.5 hours $11.00 per hour Variable manufacturing overhead 2.75 Fixed manufacturing overhead Total standard cost per unit $16.50 The predetermined manufacturing overhead rate is $10 per direct labor hour($5.00 -0.5). It was computed from a master manufacturing overhead budget based on normal production of 2.500 direct labor hours 15,000 units) for the...
Do It! Review 25-3 The standard cost of product 5252 includes 1.90 hours of direct labor...
Do It! Review 25-3 The standard cost of product 5252 includes 1.90 hours of direct labor at $12.30 per hour. The predetermined overhead rate is $22.00 per direct labor hour. During July, the company incurred 4,000 hours of direct labor at an average rate of $12.60 per hour and $80,400 of manufacturing overhead costs. It produced 2,000 units. Compute the total, price, and quantity variances for labor. Total labor variance Labor price varñiance Labor quantity variance s Compute the total...
Larkin Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.00 pounds at $6.44 per pound Drect labor per unit: 8.24 hours at 515 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $25.50 per direct labor hour Compute the standard cost of one unit of product i-Tal. (Round answer to 2 decimal places, e., 2.75.) Standard cost
Question 9
Blossom Company accumulated the following standard cost data
concerning product I-Tal.
Direct materials per unit: 3.00 pounds at $4.50 per pound
Direct labor per unit: 8.60 hours at $15 per hour
Manufacturing overhead: Allocated based on direct labor hours
at a predetermined rate of $22.50 per direct labor hour
Compute the standard cost of one unit of product I-Tal.
(Round answer to 2 decimal places, e.g.
2.75.)
Standard cost
$
Question 1 View Policies Current Attempt in Progress Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials-net purchase price $2.50, freight- in $0.30, and receiving and handling $0.20. (2) Quantity per gallon of finished product-required materials 3.60 pounds, allowance for waste and spoilage 0.90 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per pound of raw materials. $ (b)...
tem. In 2020, the company produced 27,900 units. Each unit took several pounds of direct materials ndard hourly rate of $13.00. Normal capacity was 49,700 direct labor hours. During the year, 1.30.300 pounds and 1.6 standard hours of direct labor at a purchased at $0.93 per pound. All materials purchased were used during the year What was the standard cost per unit of product? (Round answer to 2 decimal places, e-g. 2.75. $ Standard cost per unit If the 2.75.)...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $5.40 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,679,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $11.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.70 per hour. The company planned to operate at a...
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $3.40 per direct labor hour and the budgeted fixed manufacturing overhead is $999.000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $6.50 per pound. The standard direct labor-hours per unit is 15 hours and the standard labor rate is $12.70 per hour. The company planned to operate at...
Problem 23- Rogen Corporation manufactures a single product. The standard cost er unit of product is shown below Direct materiai-1 pound plastic at $5.00 per pound $6.00 Direct labor0.5 hours $11.00 per hour Variable manufacturing overhead 2.75 Fixed manufacturing overhead Total standard cost per unit $16.50 The predetermined manufacturing overhead rate is $10 per direct labor hour($5.00 -0.5). It was computed from a master manufacturing overhead budget based on normal production of 2.500 direct labor hours 15,000 units) for the...
Do It! Review 25-3 The standard cost of product 5252 includes 1.90 hours of direct labor at $12.30 per hour. The predetermined overhead rate is $22.00 per direct labor hour. During July, the company incurred 4,000 hours of direct labor at an average rate of $12.60 per hour and $80,400 of manufacturing overhead costs. It produced 2,000 units. Compute the total, price, and quantity variances for labor. Total labor variance Labor price varñiance Labor quantity variance s Compute the total...
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