Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $2.20 per standard direct labor-hour and fixed manufacturing overhead should be $279,000 per year.

The companys product requires 4 pounds of material that has a standard cost of $3.50 per pound and 1.5 hours of direct labor time that has a standard rate of $12.10 per hour.

The company planned to operate at a denominator activity level of 45,000 direct labor-hours and to produce 30,000 units of product during the most recent year. Actual activity and costs for the year were as follows:

Number of units produced	36,000
Actual direct labor-hours worked	58,500
Actual variable manufacturing overhead cost incurred	$ 87,750
Actual fixed manufacturing overhead cost incurred	$ 321,750

Required:
1.	Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. (Round your answers to 2 decimal places.)

2.	Prepare a standard cost card for the companys product. (Round your answers to 2 decimal places.)

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. Variable manufacturing overhead should be $2.20 per standard direct labor-hour and fixed manufacturing overhead should be $279,000 per year The company's product requires 4 pounds of material that has a standard cost of $3.50 per pound and 1.5 hours of direct labor time that has a standard rate of $12.10 per hour. The company planned to operate at a denominator activity level of 45,000 direct labor-hours and to produce 30,000 units of product during the most recent year. Actual activity and costs for the year were as follows Number of units produced Actual direct labor-hours worked Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred 36,000 58,500 $ 87,750 321,750 Required 1. Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead rate Variable rate Fixed rate per DLH per DLH per DLH 2. Prepare a standard cost card for the company's product. (Round your answers to 2 decimal places.) Direct materials Direct labor Variable overhead Fixed overhead Standard cost per unit pounds at DLHs at DLHs at DLHs at per pound per DLH per DLH per DLH