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A manufactured product has the following information for August. Standard Quantity and Cost Actual Results Direct materials 2 pounds per unit @ $3.00 per pound Direct labor 0.5 hour per unit @ $20 per DLH Overhead $18 per DLH Units manufactured 12,200 units Total manufacturing costs $ 300, 400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August.

A manufactured product has the following information for August. Standard Quantity and Cost Actual Results Direct materials 2 pounds per unit @ $3.00 per pound Direct labor 0.5 hour per unit @ $20 per DLH Overhead $18 per DLH Units manufactured 12,200 units Total manufacturing costs $ 300, 400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August.

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter7: The Master Budget And Flexible Budgeting
Section: Chapter Questions
Problem 1P: The Sales Department of Minimus Inc. has forecast sales for May 2016 to be 40,000 units. Additional...
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A manufactured product has the following information for August. Standard Quantity and Cost Actual Results Direct materials 2 pounds per unit @ $3.00 per pound Direct labor 0.5 hour per unit @ $20 per DLH Overhead $18 per DLH Units manufactured 12,200 units Total manufacturing costs $ 300, 400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August.
Transcribed Image Text:A manufactured product has the following information for August. Standard Quantity and Cost Actual Results Direct materials 2 pounds per unit @ $3.00 per pound Direct labor 0.5 hour per unit @ $20 per DLH Overhead $18 per DLH Units manufactured 12,200 units Total manufacturing costs $ 300, 400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August.
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