Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2

A manufactured product has the following information for August.

	Standard Quantity and Cost	Actual Results
Direct materials	2 pounds per unit @ $10.50 per pound
Direct labor	0.5 hour per unit @ $80 per DLH
Overhead	$108 per DLH
Units manufactured		15,200	units
Total manufacturing costs		$ 1,738,400

(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.

Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Compute total budgeted cost for production in August. Complete this question by entering your answers in the tabs below. Compute the total cost variance for August. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Compute total budgeted cost for production in August. Complete this question by entering your answers in the tabs below. Compute the total cost variance for August. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)