7. standard costs Return yet again to the extended illustration, but now assume a standard cost system is in use. The LLAs for the two overhead pools remain as originally specified. The standard (the estimated) direct labor and direct material costs are as follows:

job 1 job 2 direct labor 10 23 direct material 34 18 Determine Ralph’s income assuming standard, full costing is used and assuming standard, variable costing is used. That is, replicate Tables 6.7 and 6.10 for the standard costing cases.