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I really need help solving this, i honestly cant figure it out Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These

I really need help solving this, i honestly cant figure it out

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Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards Materials Item Metal Plastic Rubber Per unit 1 lb 12 oz 4 oz Cost 63 per lb $1.00 per lb 88 per lb Direct labor Item Labor Predetermined overhead rate based on direct labor hours Per unit 15 min Cost $8.00 per hr $4.28 The January figures for purchasing, production, and labor are: The company purchased 229,000 pounds of raw materials in January at a cost of 78 a pound Production used 229,000 pounds of raw materials to make 115,500 units in January Direct labor spent 18 minutes on each product at a cost of $7.80 per hour Overhead costs for January totaled $54,673 variable and $73,800 fixed

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