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Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system: Inputs (1) Standard Quantity or
Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system:
Inputs | (1) Standard Quantity or Hours | (2) Standard Price or Rate | Standard Cost (1) (2) | ||||
Direct materials | 2.00 | pounds | $ | 16.50 | per pound | $ | 33.00 |
Direct labor | 1.00 | hours | $ | 15.80 | per hour | $ | 15.80 |
Variable manufacturing overhead | 1.00 | hours | $ | 9.40 | per hour | $ | 9.40 |
Total standard cost per unit | $ | 58.20 | |||||
Total | Variances Reported | |||||||
Standard Cost* | Price or Rate | Quantity or Efficiency | ||||||
Direct materials | $ | 627,000 | $ | 11,600 | F | $ | 33,000 | U |
Direct labor | $ | 300,200 | $ | 4,000 | U | $ | 15,800 | U |
Variable manufacturing overhead | $ | 178,600 | $ | 4,300 | F | $ | ? | U |
*Applied to Work in Process during the period.
4. How many actual direct labor-hours were worked during the period?
5. What was the actual rate paid per direct labor-hour? (Round your answer to 2 decimal places.)
6. How much actual variable manufacturing overhead cost was incurred during the period?
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