Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 8 1 pts Use the information provided to calculate standard costs: To make one switch it takes 19 feet of plastic-coated copper wire

image text in transcribed

Question 8 1 pts Use the information provided to calculate standard costs: To make one switch it takes 19 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $17 per pound, and the wire costs $2.74 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $29 per hour. The second type of labor is finishing, which takes 2.8 hours. These workers are paid $29 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.64 per labor hour. The fixed overhead rate is $15.36 per hour. What is the total standard cost for direct materials? Round to the nearest penny, two decimal places D Question 9 1 pts Use the information provided to calculate standard costs: To make one switch it takes 16 feet of plastic-coated copper wire and 0.6 pounds of plastic material. The plastic material can usually be purchased for $18 per pound, and the wire costs $2.84 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.1 hours. These workers are paid $26 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid $29 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.39 per labor hour. The foxed overhead rate is $14.27 per hour. What is the total standard cost for direct labor? Round to the nearest penny, two decimal places. Question 10 1 pts Use the information provided to calculate standard costs To make one switch it takes 16 feet of plastic-coated copper wire and 0.6 pounds of plastic material. The plastic material can usually be purchased for $17 per pound, and the wire costs $2.74 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.8 hours. These workers are paid $27 per hour. The second type of labor is finishing, which takes 2.1 hours. These workers are paid $29 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.29 per labor hour. The fixed overhead rate is $14.84 per hour. What is the total standard cost for manufacturing overhead? Round to the nearest penny, two decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial ACCT2

Authors: Norman H. Godwin, C. Wayne Alderman

2nd edition

9781285632544, 1111530769, 1285632540, 978-1111530761

More Books

Students also viewed these Accounting questions

Question

How many DCs should be built and where should they be located?

Answered: 1 week ago