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Kansas Company uses a standard cost accounting system. In 2017, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.6
Kansas Company uses a standard cost accounting system. In 2017, the company produced 28,000 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $11.00. Normal capacity was 50,300 direct labor hours. During the year, 130,600 pounds of raw materials were purchased at $0.90 per pound. All materials purchased were used during the year. (a) (b) If the materials quantity variance was $6,956 unfavorable, what was the standard materials quantity per unit? Your answer is correct. If the materials price variance was $5,224 favorable, what was the standard materials price per pound? Standard materials quantity per unit 4.4 Standard materials price per pound .94 Click if you would like to Show Work for this question: Open Show Work Click if you would like to Show Work for this question: Open Show Work (d) Your answer is correct. (c) What were the standard hours allowed for the units produced? If the labor quantity variance was $7,700 unfavorable, what were the actual direct labor hours worked? Standard hours allowed 44800 Actual hours worked 45500 (e) Your answer is correct. (f) Your answer is correct. If the labor price variance was $4,550 favorable, what was the actual rate per hour? [f total budgeted manufacturing overhead was $326,950 at normal capacity, what was the predetermined overhead rate? Actual rate per hour 10.90 Predetermined overhead rate I 6.50 (g) Your answer is correct. What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.) (h) How much overhead was applied to production during the year? Standard cost per unit 31.76 Overhead applied $ Click if you would like to Show Work for this question: Open Show Work Click if you would like to Show Work for this question: Open Show Work
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