Answered step by step
Verified Expert Solution
Link Copied!

Question

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 @ $7.50 per pound 0.5 hour per unit @ $56 per DLH $72 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Actual Results 14,000 units $ 1,104,400 Prepare the standard cost card showing standard cost per unit. (Round your final answers to 2 decimal places.) Direct materials Direct labor Overhead Inputs Standard quantity or hours Standard price or rate Standard cost per unit pounds x DLH x DLH x Required 11 Required 2 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Fundamental Accounting Principles

Authors: John J Wild, Ken Shaw

24th edition

1259916960, 978-1259916960

More Books

Students also viewed these Accounting questions

Question

Describe the major elements and issues with agile development.

Answered: 1 week ago