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Rudd Clothiers is a small company that manufactures tal men's suits. The company has used a standard cost accounting system In May 2017, 10,100 suits

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Rudd Clothiers is a small company that manufactures tal men's suits. The company has used a standard cost accounting system In May 2017, 10,100 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 7 yards at $4.20 per yard $292,330 for 71,300 yards ($4.10 per yard) Direct labor 1.10 hours at $14.00 per hour $167,453 for 11,710 hours ($14.30 per hour) 1.10 hours at $6.30 per hour (fixed $3.50; variable $2.80) $48,900 fixed overhead $37,500 variable overhead Overhead overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $49,000, and budgeted variable overhead was $39,200

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