Question
Kansas Company uses a standard cost accounting system. In 2020, the company produced 27,500 units. Each unit took several pounds of direct materials and 1.6
Kansas Company uses a standard cost accounting system. In 2020, the company produced 27,500 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,300 direct labor hours. During the year, 131,900 pounds of raw materials were purchased at $0.91 per pound. All materials purchased were used during the year.
I just need part (i) solved
(a)
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If the materials price variance was $2,638 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.)
Standard materials price per pound | $ |
Attempts: 1 of 4 used
(b)
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If the materials quantity variance was $20,367 unfavorable, what was the standard materials quantity per unit?
Standard materials quantity per unit | pounds |
Attempts: 1 of 4 used
(c)
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What were the standard hours allowed for the units produced?
Standard hours allowed | hours |
Attempts: 1 of 4 used
(d)
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If the labor quantity variance was $7,200 unfavorable, what were the actual direct labor hours worked?
Actual hours worked | hours |
Attempts: 1 of 4 used
(e)
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If the labor price variance was $13,380 favorable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 2.75.)
Actual rate per hour | $ |
eTextbook and Media
Attempts: 2 of 4 used
(f)
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If total budgeted manufacturing overhead was $337,010 at normal capacity, what was the predetermined overhead rate based on direct labor hours? (Round answer to 2 decimal places, e.g. 2.75.)
Predetermined overhead rate | $ |
eTextbook and Media
Attempts: 2 of 4 used
(g)
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What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.)
Standard cost per unit | $ |
Attempts: 1 of 4 used
(h)
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How much overhead was applied to production during the year?
Overhead applied | $ |
Attempts: 1 of 4 used
(i)
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Using one or more answers above, what were the total costs assigned to work in process? (Round standard cost per unit to 2 decimal places, e.g. 2.75 and final answer to 0 decimal places, e.g. 125.)
Total costs assigned | $ |
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