Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The standard cost card for the single product manufactured by Cutter, Inc., is given below: Standard Cost Card per Unit Direct materials, 5.5 yards at

image text in transcribedimage text in transcribed

The standard cost card for the single product manufactured by Cutter, Inc., is given below: Standard Cost Card per Unit Direct materials, 5.5 yards at $2.00 per yard 11.00 Direct labor, .9 hours at $15.00 per hour 13.50 Variable overhead, .9 hours at $2.00 per hour 1.80 5.67 Fixed overhead, .9 hours at $6.30 per hour Total standard cost per unit 31.97 Manufacturing overhead is applied to production on the basis of standard direct labor-hours. During the year, the company worked 11,000 hours and manufactured 12,000 units of product. Selected data relating to the company's fixed manufacturing overhead cost for the year are shown below: Fixed Overhead Actual Fixed Applied to Budgeted Fixed Overhead Overhead Work in Process hours x per hour $61,000 Budget variance, Volume variance, $8,190 F Required 1. What were the standard hours allowed for the year's production? (Round "Standard hours per unit" to 1 decimal place.) Standard-hours Total produced last year units Standard hours per unit DLH per unit Standard-hours

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_2

Step: 3

blur-text-image_3

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

The Internal Auditing Pocket Guide

Authors: J. P. Russell

1st Edition

0873895606, 978-0873895606

More Books

Students also viewed these Accounting questions

Question

3. Outline the four major approaches to informative speeches

Answered: 1 week ago

Question

4. Employ strategies to make your audience hungry for information

Answered: 1 week ago