Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 5
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Standard Quantity and Cost 5 pounds @ $8 per pound 2 DLH @ $15 per DLH 2 DLH @ $13 per DLH Direct materials Direct labor Overhead Units manufactured (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. 4) Compute total cost variance for June. Actual Results 40,600 pounds @ $8.10 per pound 15,700 hours @ $15.50 per hour $ 214,000 8,000 units Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total $ 0 Required 1 Required 2 Required 3 Required 4 Compute total budgeted cost for June production. Total budgeted (standard) cost Required 1 Required 2 Actual cost Required 3 Required 4 Compute total actual cost for June production. Required 1 Required 2 Required 3 Required 4 Compute total cost variance for June. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total cost variance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started