QUESTION 1/2 please
La Torge Jewelry Co. produces fine jewelry for high-end retail stores. The company specializes in producing pearl jewelry, specifically, bracelets, necklaces, and earrings. The primary materials used in each product are pearls and sterling silver. The sterling silver is purchased and used in wire form (measured in inches) to make bracelets and necklaces. It is purchased and used in sets to make earrings. Although all of La Torge's pieces are sold individually, the company's most successful product is its complete pearl jewelry set, which includes a matching bracelet, necklace, and pair of earrings, and is expected to sell for $290 per set. La Torge expects to produce and sell 700 complete pearl jewelry sets in each month of 2017. Here are the standards th company has set for one unit of each product within the complete pearl jewelry set: Bracelet Standard price or rate Standard Quantity Direct materials: $2.49 per pearl22 pearls per bracelet $0.50 per inch 7inches per bracelet $10 per DLH 20 minutes per bracelet $6 per DLH 20 minutes per bracelet Pearls Sterling Silver Direct labor Variable overhead Necklace Standard price or rate Standard Qua Direct materials: Pearls $2.49 per pearl 57 pearls per necklace $0.50 per inch 18 inches per necklace $10 per DLH 40 minutes per necklace $6 per DLH 40 minutes per necklace Sterling Silver Direct labor Variable overhead Earrings Standard price or rate Standard Quantity Direct materials: Pearls $2.49 per pearl 2 pearls per pair of earrin Sterling Silver $2.65 per set 1 set per pair of earrings Direct labor Variable overhead $10 per DLH 30 minutes per pair of earrings 56 per DLH 30 minutes per pair of earrings As the above standards indicate, the variable overhead is applied to each product on the basis of direct labor hours. La Torge Jewelry Co. produces fine jewelry for high-end retail stores. The company specializes in producing pearl jewelry, specifically, bracelets, necklaces, and earrings. The primary materials used in each product are pearls and sterling silver. The sterling silver is purchased and used in wire form (measured in inches) to make bracelets and necklaces. It is purchased and used in sets to make earrings. Although all of La Torge's pieces are sold individually, the company's most successful product is its complete pearl jewelry set, which includes a matching bracelet, necklace, and pair of earrings, and is expected to sell for $290 per set. La Torge expects to produce and sell 700 complete pearl jewelry sets in each month of 2017. Here are the standards th company has set for one unit of each product within the complete pearl jewelry set: Bracelet Standard price or rate Standard Quantity Direct materials: $2.49 per pearl22 pearls per bracelet $0.50 per inch 7inches per bracelet $10 per DLH 20 minutes per bracelet $6 per DLH 20 minutes per bracelet Pearls Sterling Silver Direct labor Variable overhead Necklace Standard price or rate Standard Qua Direct materials: Pearls $2.49 per pearl 57 pearls per necklace $0.50 per inch 18 inches per necklace $10 per DLH 40 minutes per necklace $6 per DLH 40 minutes per necklace Sterling Silver Direct labor Variable overhead Earrings Standard price or rate Standard Quantity Direct materials: Pearls $2.49 per pearl 2 pearls per pair of earrin Sterling Silver $2.65 per set 1 set per pair of earrings Direct labor Variable overhead $10 per DLH 30 minutes per pair of earrings 56 per DLH 30 minutes per pair of earrings As the above standards indicate, the variable overhead is applied to each product on the basis of direct labor hours
