1- Assume Phoenix Company concluded it spent an average of 0.90 hours (Actual) to complete one finished good unit. How many hours of direct labor did Phoenix Company have for the year?

2- Using the standard cost card (1 above) and the flexible budget, how many hours should Phoenix Company have used for production during the year?

3- What was the companys actual labor rate?

Phoenix Company Standard Cost Card - Current Year (2019) Qty per Cost per Unit Input Direct materials 4.00 lbs. $15.0000 Direct labor 1.2396 hrs. 12.10 Variable Overhead 1.2396 hrs. X $7.2598 Std. Cost per Unit (a) $60.0000 $15.0000 $9.0000 Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 16,000 units. $4,000,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales Cost of goods sold Direct materials Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($64,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense Salaries Entertainment expense Income from operations $ 960,000 240,000 80,000 330,000 214,000 215,000 2,039,000 1,961,000 96,000 128,000 260,000 484,000 133,000 251,000 110,000 494,000 $ 983,000