Case 10-49 Direct-Material and Direct-Labor Variances; Job-Order Costing; Journal Entries (Appendix) (LO 10-1, 10-3, 10-6,10-9) [The following information applies to the questions displayed below.] Metro Fashions, Inc., manufactures women's blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities Metro Fashions sews the particular stores' labels on the blouses. During November the company worked on three orders, for which the month's job-cost records disclose the following data Material Used (yards) 26,510 41,500 30,865 Lot Number Boxes in Lot Hours Worked N42 N43 N44 1,200 1,900 1,400 4,760 7,630 5,060 The following additional information is available: 1. The firm purchased 90,000 yards of material during November at a cost of $109,300 2. Direct labor during November amounted to $226,850. According to payroll records, production employees were paid $13 per hour. 3. There was no work in process on November 1. During November, lots N42 and N43 were completed. All material was issued for lot N44, which was 90 percent completed as to conversion (i.e., direct labor and overhead) 4. The standard costs for a box of six blouses are as follows: $1.2 Direct material Direct labor Production $26.40 50.00 22 yards at 0 4 hours at $12.50 4 hours at $13.00 52.00 overhead Standard cost per $128.40 Required: 1. Complete the following schedule computing the standard cost of lots N42, N43, and N44 for November. (Round "Standard Cost per Box" to 2 decimal places.) METRO FASHIONS, INC Standard Cost of Production For November Quantity Standard Cost Total Standard (boxes) Lot N42 N43 N44 per Box Cost 1,200 1,900 1,400