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please answer all questions Required information [The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its
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Required information [The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. $5.00 per Ib.) Direct labor (7 hrs. $14 per hr.) Factory overhead-variable (7 hrs. L $7 per hr.) Factory overhead-fixed (7 hrs. $9 per hr.) Total standard cost $150.00 98.00 49.00 63.00 $360.00 The predetermined overhead rate is based on a planned operating volume of 80% of the productive capacity of 61,000 units per quarter. The following flexible budget information is available 70% 42,700 298,900 erating Levels 80% 48,800 341,600 90% Production in units Standard direct labor hours Budgeted overhead 54,900 384,300 Fixed factory overhead Variable factory overhead $3,074,400 $3,074,400 $3, 074,400 $2,092,300 $2,391,200 $2,690,100 During the current quarter, the company operated at 90% of capacity and produced 54,900 units of product, actual direct labor totaled 316,300 hours. Units produced were assigned the following standard costs Direct materials (1,647,000 Ibs. $5.00 per Ib.) Direct labor (384,300 hrs. $14 per hr.) Factory overhead (384,300 hrs. $16 per hr.) 6,148,800 Total standard cost $8,235,000 5,380,200 $19,764,000Step by Step Solution
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