Question
Crede Manufacturing Company uses a standard cost accounting system. In 2020, 25,000 units were produced. Each unit took several kilograms of direct materials and 1.6
Crede Manufacturing Company uses a standard cost accounting system. In 2020, 25,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9. Normal capacity was 45,100 direct labour hours. During the year, 115,000 kg of raw materials were purchased at $0.96 per kilogram. All materials purchased were used during the year.
A. What was the standard cost per unit of product?(Round answer to 2 decimal places, e.g. 2.75.)
B. How much overhead was applied to production during the year?
Overhead applied= ?
C. Using one or more answers above, what were the total costs assigned to work in process?(Round standard cost per unit to 2 decimal places, e.g. 2.75 and final answer to 0 decimal places, e.g. 125.)
Total costs assigned
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