Question
A manufactured product has the following information for August. Standard Quantity and Cost Actual Results Direct materials 2 pounds per unit @ $5.00 per pound
A manufactured product has the following information for August.
| Standard Quantity and Cost | Actual Results | ||
|---|---|---|---|
| Direct materials | 2 pounds per unit @ $5.00 per pound | ||
| Direct labor | 0.5 hour per unit @ $36 per DLH | ||
| Overhead | $42 per DLH | ||
| Units manufactured | 13,000 | units | |
| Total manufacturing costs | $ 628,400 | ||
(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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Contemporary Auditing
Authors: Michael C Knapp
12th Edition
357515404, 978-0357515402
