Question
A manufactured product has the following information for August. Standard Quantity and Cost Actual Results Direct materials 2 pounds per unit @ $2.50 per pound
A manufactured product has the following information for August.
| Standard Quantity and Cost | Actual Results | ||
|---|---|---|---|
| Direct materials | 2 pounds per unit @ $2.50 per pound | ||
| Direct labor | 0.5 hour per unit @ $16 per DLH | ||
| Overhead | $12 per DLH | ||
| Units manufactured | 12,000 | units | |
| Total manufacturing costs | $ 225,400 | ||
(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.
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Analysis for Financial Management
Authors: Robert Higgins
11th edition
77861787, 978-0077861780
