Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard Quantity and Cost 2

image text in transcribedimage text in transcribedimage text in transcribed

A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard Quantity and Cost 2 pounds per unit @ $6.00 per pound 0.5 hour per unit @ $44 per DLH $54 per DLH (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Actual Results 13,400 units $ 808,400 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Note: Round your final answers to 2 decimal places. Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds DLH DLH x Standard price or rate Standard cost per unit < Required 1 Required 2 > Required 1 Required 2 Required 3 Compute total budgeted cost for production in August. Total budgeted cost < Required 1 Required 3 > Required 1 Required 2 Required 3 Compute the total cost variance for August. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Total cost variance < Required 2 Required 3 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Marketing And Export Management

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

8th Edition

1292016922, 978-1292016924

Students also viewed these Accounting questions