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5 Vitex, Incorporated manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: (1) Standard Quantity
5 Vitex, Incorporated manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: (1) Standard Quantity or Hours Standard Cost (1) x (2) (2) Standard 10 points Inputs Direct materials Skipped Direct labor 2.00 pounds 1.00 hours eBook Variable manufacturing overhead Total standard cost per unit 1.00 hours $9.50 hour Price or Rate $ per 16.90 pound $ per 15.10 hour per $ 33.80 $ 15.10 $ 9.50 $ 58.40 Reference Total Standard Variances Reported Price or Quantity or Cost Rate: Efficiency Direct materials $ 11,600 F $ 33,800 U Direct labor overhead 642,200 286,900 180,500 $ 4,000 U $ 15,100 U $ 4,700 F $ 7tU Variable manufacturing "Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored. Required: 1. How many units were produced last period? 2. How many pounds of direct material were purchased and used in production? 3. What was the actual cost per pound of material? (Round your answer to 2 decimal places.) 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor-hour? (Round your answer to 2 decimal places.) 6. How much actual variable manufacturing overhead cost was incurred during the period? 1. Number of units produced 2. Pounds of direct material purchased and used in production 3. Actual cost per pound 4. Actual direct labor-hours 5. Actual rate per direct labor-hour 6. Actual variable manufacturing overhead cost
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