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please answer me fast Q- 6: Queen Company is using the following standard cost card for its product manufactured now a days is: Standard Cost
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Q- 6: Queen Company is using the following standard cost card for its product manufactured now a days is: Standard Cost Card-Per Unit Direct materials, 4 feet at $5 per foot Direct labor, 0.75 direct labor-hours at $18 per direct labor-hour Variable overhead, 0.8 direct labor-hours at $3 per direct labor-hour Fixed overhead, 0.8 direct labor-hours at $6 per direct labor-hour Total standard cost per unit $20.00 13.50 2.40 4.80 $40.70 Busine Administration Program Final Assessment Semester Spring 2021 Page 2 Last year, the company produced 5,000 units of product and worked 3.700 actual direct labor-hours. Manufacturing overhead cost is applied to production on the basis of direct labor-hours. Selected data relating to the company's fixed manufacturing overhead cost is as follows: Actual Fixed overhead cost $22,800 Volume variance $1,600 Fixed overhead Cost applied to Work in process = (---- hours 6 per hour) = ? Required: a) What were the standard hours allowed for the year's production? b) What was the amount of budgeted fixed overhead cost for the year? c) What was the budget variance for the year? d) What denominator activity level did the company use in setting the predetermined overhead rate for the yearStep by Step Solution
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