Chapter $10$ Standard Costs and Variances $(25$ points$)$

$1.$

Standard Cost per unit

per pound

Standard Quantity

pounds

$2.$

Actual Hours of Input, at Actual Rate $($AH X AR$)$ #OIV$/$OI

Actual Quantity of Input, at Standard Price $($AQ $$ SP$)$

Standard Cost per DLH

Standard Quantity

Given:

Carr Valley Cheese produces natural cheddar cheese curds.

The direct materials and direct labor standards for one package of natural cheddar cheese curds are the following:

$\backslash$table$[[,$Standard Price or Rate,Standard Quantity or Hours,rs Standard$],[$Direct Materials,$$2\mathrm{.}20$ per pound,$2$ pounds,S$4\mathrm{.}40],[$Direct Labor,$$18$ per hour,$0\mathrm{.}4$ hours,$$7\mathrm{.}20$