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Valport Valve Company manufactured 7,600 units during March of a control valve used by milk processors in its Shreveport plant. Records indicated the following: Direct
Valport Valve Company manufactured 7,600 units during March of a control valve used by milk processors in its Shreveport plant. Records indicated the following: |
Direct labor | 46,500 | hr. at $14.70 | |
Direct material purchased | 31,000 | lb. at $2.10 | |
Direct material used | 28,000 | lb. | |
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The control valve has the following standard prime costs. |
Direct material: | 4 | lb. at $2.00 per lb. | $ | 8.00 | |
Direct labor: | 6 | hr. at $15.10 per hr. | 90.60 | ||
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Standard prime cost per unit | $ | 98.60 | |||
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Required: |
1. | Prepare a schedule of standard production costs for March, based on actual production of 7,600 units. |
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