Question
10. Use the information provided to calculate standard costs: To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of
10.
Use the information provided to calculate standard costs:
To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $17 per pound, and the wire costs $2.38 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.3 hours. These workers are paid $26 per hour. The second type of labor is finishing, which takes 2.1 hours. These workers are paid $28 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.71 per labor hour. The fixed overhead rate is $15.23 per hour.
What is the total standard cost for manufacturing overhead? Round to the nearest penny, two decimal places.
11. Use the information provided to calculate standard costs:
To make one switch it takes 17 feet of plastic-coated copper wire and 0.1 pounds of plastic material. The plastic material can usually be purchased for $20 per pound, and the wire costs $2.89 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.9 hours. These workers are paid $30 per hour. The second type of labor is finishing, which takes 2.5 hours. These workers are paid $29 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.88 per labor hour. The fixed overhead rate is $14.85 per hour.
What is the total standard cost? Round to the nearest penny, two decimal places
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started