Exercise 24-09

You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations.

		Standard Cost Card
Direct materials (9 pounds at $5 per pound)		$45.00
Direct labor (0.70 hours at $10)		7.00
Variable overhead (0.70 hours at $5 per hour)		3.50
Fixed overhead (0.70 hours at $7 per hour)		4.90
		$60.40

The following is a variance report for the most recent period of operations.

				Variances
Costs		Total Standard Cost		Price			Quantity
Direct materials		$405,000		$8,284	F		$9,200	U
Direct labor		63,000		5,340	U		8,200	U

How many units were produced during the period?

Number of units

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How many pounds of raw materials were purchased and used during the period?

Raw material

pounds

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What was the actual cost per pound of raw materials? (Round answer to 2 decimal places, e.g. 1.25.)

Actual cost per pound of raw materials

$

/lb

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How many actual direct labor hours were worked during the period?

Actual direct labor hours

hours

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What was the actual rate paid per direct labor hour? (Round answer to 2 decimal places, e.g. 1.25.)

Actual rate paid per direct labor hour

$

/hr