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Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor hours. The budgeted variable manufacturing overhead is $3,80

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Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor hours. The budgeted variable manufacturing overhead is $3,80 per direct labor hour and the budgeted fixed manufacturing overhead is $1,287.000 per year The standard quantity of materials is 4 pounds per unit and the standard cost is $7.50 per pound. The standard direct labor hours per unit is 1.5 hours and the standard labor rate is $12.90 per hour The company planned to operate at a denominator activity level of 165,000 direct labor hours and to produce 110,000 units of product during the most recent year. Actual activity and costs for the year were as follows: Actual number of units produced Actual direct labor hours worked Actual variable manufacturing overhead cost incurred Actual feed manufacturing overhead cost incurred 132,000 214,500 $ 493,350 31,320,000 Required: 1. Compute the predetermined overhead rate for the year Break the rate down into variable and fixed elements, 2. Prepare a standard cost card for the company's product 3a. Compute the standard direct labor hours allowed for the year's production 3b. Complete the following Manufacturing Overhead T-account for the year, 4. Determine the reason for any underapplied or overapplied overhead for the year by computing the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances x Answer is n Complete this question by entering your answers in the Req 1 Reg 2 Req Req 3B Req Compute the predetermined overhead rate for the year. Break th answers to 2 decimal places.) $ Predetermined overhead rate Variable rate 11.70 X per DLH $ 3.80 per DLH $ per 1,287,000.00 DLH $ $ Fixed rate KT Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req 3A Req 3B Req 4 Prepare a standard cost card for the company's product. (Round your answers to 2 decimal plac Direct materials $ 0.00 Direct labor Variable overhead Fixed overhead Standard cost per unit pounds 4.00 at 12.90 x DLHs at 1.50 DLHS at 150 DLHs at per pound per DLH per DLH per DLH $ 0.00 $ 0.00 $ 0.00 $ 0.00 X Answer is not comp Complete this question by entering your answers in the tabs belo Reg 1 Reg 2 Reg 3A Reg 3B Reg 4 Compute the standard direct labor-hours allowed for the year's production Standard direct labor hours

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