Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $19.00 per hr.   standard time per unit 3.50 hrs. Direct materials (oak): standard price $8.50 per bd. ft.   standard quantity 15 bd. ft. Variable factory overhead: standard rate $3.20 per direct labor hr. Fixed factory overhead: standard rate $1.20 per direct labor hr. a.  Determine the standard cost per dining room table. If required, round your answer to two decimal places. $.   per dining room table b.  A standard cost system provides Rosa Furniture management a cost control tool using the principle of ???  Using this principle, ???  cost deviations from standards can be investigated and corrected.

Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: Direct labor: standard rate $24.00 per hr. standard time per unit 2.50 hrs. Direct materials (oak): standard price $8.00 per bd. ft. standard quantity 18 bd. ft. Variable factory overhead: standard rate $2.80 per direct labor hr. Fixed factory overhead: standard rate $0.80 per direct labor hr, a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per dining room table V. Using this principle, major b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of management by exception cost deviations from standards can be investigated and corrected.

Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:     Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (plastic) 12 sq ft. $ 1.45 per sq. ft. $ 17.40 Direct labor 0.3 hr. $ 11.90 per hr.   3.57 Variable manufacturing overhead (based on direct labor hours) 0.3 hr. $ 2.30 per hr.   0.69 Fixed manufacturing overhead ($461,000 ÷ 922,000 units)             0.50   Parker Plastic had the following actual results for the past year:        Number of units produced and sold   1,160,000 Number of square feet of plastic used   12,000,000 Cost of plastic purchased and used $ 16,800,000 Number of labor hours worked   320,000 Direct labor cost $ 3,744,000 Variable overhead cost $ 1,100,000 Fixed overhead cost $ 377,000   Required:Calculate Parker Plastic’s direct labor rate and efficiency variances. (Do not round intermediate calculations. Indicate the…

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