Question
Slick Corporation is a small producer of synthetic motor oil. During May, the company produced 5,000 cases of lubricant. Each case contains 12 quarts of
Slick Corporation is a small producer of synthetic motor oil. During May, the company produced 5,000 cases of lubricant. Each case contains 12 quarts of synthetic oil. To achieve this level of production, Slick purchased and used 16,500 gallons of direct materials at a cost of $20,676. It also incurred average direct labor costs of $14 per hour for the 4,064 hours worked in May by its production personnel. Manufacturing overhead for the month totaled $9,922, of which $2,200 was considered fixed. Slick's standard cost information for each case of synthetic motor oil is as follows.
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