On May 1, 2020, Bishop Company began the manufacture of a new paging machine known as Sleek. The company installed a standard costing system to account for manufacturing costs. The standard costs for a unit of Sleek and other information follow: (Click the icon to view the information) Actual production in May was 4,500 units of Sleek, and actual sales in May were 3,400 units. The amount shown for direct materials price variance applies to materials purchased and used during May. There was no beginning inventory of materials on May 1, 2020. Read the requirements. hours Standard direct manuf. labor-hours allowed for actual output produced hours 3. Compute the actual direct manufacturing labor-hours worked. (Round your answer to the nearest whole dollar.) 4. Compute the actual direct manufacturing labor wage rate. (Round your answer to the nearest cent.) Actual direct mfg. labor wage rate per hour 5. Compute the standard quantity of direct materials allowed (in pounds). Actual direct mfg. = labor-hours worked hours Standard quantity of direct materials allowed (in pounds) pounds 6. Actual quantity of direct materials purchased and used (in pounds). (Round your answer to the nearest whole number.) + 7. Compute the actual direct materials price per pound. (Round your answer to the nearest cent.) + Actual quantity of DM used (in lbs) lbs. Actual DM price per pound per lb Requirements Compute each of the following items for Bishop Company for the month of May. Show your computations by first selecting the formula, then entering the amounts in the formula, and then solving for your answer. 1. (a) Standard cost per pound of direct materials, (b) Standard hours per unit of direct manufacturing labor, (c) Standard manufacturing overhead cost expressed as a percentage of standard direct manufacturing labor cost, (d) Standard cost per unit (paging machine) 2. Standard direct manufacturing labor-hours allowed for actual output produced 3. Actual direct manufacturing labor-hours worked 4. Actual direct manufacturing labor wage rate 5. Standard quantity of direct materials allowed (in pounds) 6. 7. Actual quantity of direct materials purchased and used (in pounds) Actual direct materials price per pound Print Done - X