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Kansas Company uses a standard cost accounting system. In 2022 , the company produced 28,000 units. Each unit took several pounds of direct materials and
Kansas Company uses a standard cost accounting system. In 2022 , 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 $12.00. Normal capacity was 50,000 direct labor hours. During the year, 117,000 pounds of raw materials were purchased at $0.92 per pound. All materials purchased were used during the year. (a) If the materials price variance was $3,510 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound $ eTextbook and Media Attempts: 0 of 3 used (b) If the materials quantity variance was $4,750 unfavorable, what was the standard materials quantity per unit? Standard materials quantity per unit pounds What were the standard hours allowed for the units produced? Standard hours allowed hours eTextbook and Media Attempts: 0 of 3 used (d) If the labor quantity variance was $7,200 unfavorable, what were the actual direct labor hours worked? Actual hours worked hours eTextbook and Media Attempts: 0 of 3 used (e) If the labor price variance was $9,080 favorable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 2.75.) Actual rate per hour $ (f) If total budgeted manufacturing overhead was $360,000 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: 0 of 3 used (g) What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.) Standard cost per unit $ eTextbook and Media Attempts: 0 of 3 used (h) How much overhead was applied to production during the year? Overhead applied $ eTextbook and Media 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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