Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have been set for one of their products. Particulars Standard

Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have been set for one of their products. Particulars Standard Price/rate Direct materials $10 per pound Direct labor ? Variable manufacturing overhead $5.375 per hour Total standard variable cost to manufacture the product is $75 per product. During February, 850 direct labor hours were worked and 600 units of the product were manufactured. Each unit of product required one unit of raw material. The actual cost per unit manufactured during February was $0.30 higher than the standard cost. For the month of February, the standard cost of production for direct labor was $14,000 and for variable manufacturing overhead was $4,300. Actual variable manufacturing overhead was $4,340. Actual costs incurred for materials used were $24,000. The material quantity usage variance was an unfavorable $700. Fixed overhead per direct labor is $3.5 (assuming normal capacity of 900 labor hours). Actual fixed overhead incurred was $3,500 (use labor hours as cost driver for overhead costs). There was no stock of materials in the beginning of the February however, at the end of the month there were 100 units of materials. Question 1 - Calculate the total standard cost of materials used for actual production during February "$41,300 " "$18,300 " "$21,000 " "$26,700 "

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

Step: 3

blur-text-image

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

Todays Mood Is Sponsored By Auditing

Authors: Ruby Publishing

1st Edition

B08BG52SST, 979-8655512771

More Books

Students also viewed these Accounting questions

Question

5. Identify three characteristics of the dialectical approach.

Answered: 1 week ago

Question

6. Explain the strengths of a dialectical approach.

Answered: 1 week ago

Question

4. Explain the strengths and weaknesses of each approach.

Answered: 1 week ago