XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its accounting system uses standard costs. The standards per 0.6-liter can of solution call for 0.66 liters of material and 4 hours of labor. (0.66 liters of material are needed due to evaporation in the production process.) The standard cost per liter of material is $2.4. The standard cost per hour for labor is $13.00. Overhead is applied at the rate of $15.01 per can. Expected production is 8,200 cans with fixed overhead per year of $28,536 and variable overhead of $11.53 per unit (a 0.6-liter can). During 2015, 7,930 cans were produced; 13,600 liters of material were purchased at a cost of $61,744; 10,170 liters of material were used in production. The cost of direct labor incurred in 2015 was $384,915, based on an average actual wage rate of $11.49 per hour. Actual overhead for 2015 was $121,000. Your answer is incorrect. Try again. Determine the standard cost per unit. (Round answer to 2 decimal places, e.g. 15.25.) Standard Cost $ per unit Your answer is partially correct. try again. Calculate material, lanor, and overhead variances. (Round answer to 0 decimal places, e.g. 125. Enter all variances as a positive number.) XO-20 is an oil-based product used to remove rust on bolts and nuts that are stuck. Its accounting system uses standard costs. The standards per 0.6-liter can of solution call for 0.66 liters of material and 4 hours of labor. (0.66 liters of material are needed due to evaporation in the production process.) The standard cost per liter of material is $2.4. The standard cost per hour for labor is $13.00. Overhead is applied at the rate of $15.01 per can. Expected production is 8,200 cans with fixed overhead per year of $28,536 and variable overhead of $11.53 per unit (a 0.6-liter can). During 2015, 7,930 cans were produced; 13,600 liters of material were purchased at a cost of $61,744; 10,170 liters of material were used in production. The cost of direct labor incurred in 2015 was $384,915, based on an average actual wage rate of $11.49 per hour. Actual overhead for 2015 was $121,000. Your answer is incorrect. Try again. Determine the standard cost per unit. (Round answer to 2 decimal places, e.g. 15.25.) Standard Cost $ per unit Your answer is partially correct. try again. Calculate material, lanor, and overhead variances. (Round answer to 0 decimal places, e.g. 125. Enter all variances as a positive number.)