Question
Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) (2) Direct materials 2.20 pounds $ 16.20 per pound $ 35.64
Inputs (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) (2) Direct materials 2.20 pounds $ 16.20 per pound $ 35.64 Direct labor 1.00 hours $15.30 per hour $ 15.30 Variable manufacturing overhead 1.00 hours $9.60 per hour $9.60 Total standard cost per unit $ 60.54 Total Variances Reported Standard Cost* Price or Rate Quantity or Efficiency Direct materials $ 641,520 $ 12,064 F $ 32,400 U Direct labor $ 275,400 $ 3,800 U $ 15,300 U Variable manufacturing overhead $ 172,800 $ 4,000 F $ ? U *Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored.
How many pounds of direct material were purchased and used in production?
How many actual direct labor-hours were worked during the period?
How much actual variable manufacturing overhead cost was incurred during the period?
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