Please correct the wrong answers and show work! Thank you!! Standard Cost

A standard cost card for one unit of a product may look like the following: Direct materials (4 pounds $1.25 per pound 5.00 Direct labor (0.1 DLH @$18 per hour) Variable overhead (0.1 DLH $2.00 per hour) Fixed overhead (0.1 DLH@$4.60 per hour) Total cost per unit The standard cost to produce one unit is $7.46. The standard cost to produce 600 units are 4,476. Of course, this is a simplification as the standard cost does not take fixed and variable costs into account. 1.80 0.20 0.46 $7.46 However, if the firm is producing at or near capacity, then the cost per unit of $7.46 could be multiplied by total units to get total standard cost. The standard cost card gives both unit and cost standards. The direct materials total of $5.00 is based on the use of four pounds of material at $1.25 per pound. Similarly, it should take six minutes (0.1 direct labor hour) to produce one unit. This makes it easy to determine total quantities and cost would be for multiple units. If 400 units were made, it should take1,600pounds of direct materials with total standard cost of s 2,984 X If 460 units were made, it should take1,840pounds of direct materials with total 40 direct labor hours with standard cost of s3,431.6 XIf 400 units were made, it should take total standard cost of 2,984 X Standard costing is used for planning, control and decision making. Consider the following scenarios: 1. Abel Company has a standard cost of $5 per unit. Next year, Abel plans to make 20,000 units at a total manufacturing cost of $100,000. Abel is using standard costing in planning. 2. Sanders Company has excess capacity and is considering a special order for 400 units at less than the usual price. In determining whether or not the company can accept the special order, Sanders calculates the standard variable cost per unit at $3. Sanders is using standard costing in decision ming. 3. Clooney Company has a standard cost of $8 per unit. Last month, Clooney made 150 units at actual cost of $1,240, which Clooney compared to the total standard cost of $1,200. Clooney is using standard costing in control