Required information

Use the following information for the Exercises below. (Static)

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[The following information applies to the questions displayed below.] A manufactured product has the following information for June.

	Standard Quantity and Cost	Actual Results
Direct materials	6 pounds @ $8 per pound	48,500	pounds @ $8.10 per pound
Direct labor	2 DLH @ $16 per DLH	15,700	hours @ $16.50 per hour
Overhead	2 DLH @ $12 per DLH	$ 198,000
Units manufactured		8,000	units

Exercise 8-8 (Static) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2

(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.

AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate