The standard cost card for one unit of a finished product shows the following: Standard Quantity or Hours Standard Price or Rate Direct materials 12 feet $ ? per foot $12 per hour $ 8 per hour Direct labor 1.5 hours Variable manufacturing overhead 1.5 hours If the total standard variable cost for one unit of finished product is $78, then the standard price per foot for direct materials is:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The standard cost card for one unit of a finished product shows the following:
Standard Quantity or
Hours
Standard Price or Rate
Direct materials
12 feet
$ ? per foot
$12 per hour
$ 8 per hour
Direct labor
1.5 hours
Variable manufacturing overhead
1.5 hours
If the total standard variable cost for one unit of finished product is $78, then the standard price per foot for direct materials is:
Transcribed Image Text:The standard cost card for one unit of a finished product shows the following: Standard Quantity or Hours Standard Price or Rate Direct materials 12 feet $ ? per foot $12 per hour $ 8 per hour Direct labor 1.5 hours Variable manufacturing overhead 1.5 hours If the total standard variable cost for one unit of finished product is $78, then the standard price per foot for direct materials is:
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