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:

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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Description: The standard cost card for one unit of a finished product shows the following:Standard Quantity orHoursStandard Price or RateDirect materials12 feet$ ? per foot$12 per hour$ 8 per hourDirect labor1.5 hoursVariable manufacturing overhead1.5 hoursIf t

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Under absorption costing, a company had the following unit costs when 13,500 units were produced. $11.25 per Direct labor unit $11.75 per Direct material unit $9.50 per Variable overhead unit $13.00 per Fixed overhead ($175,500 / 13,500 units) unit Total production cost $45.50 per unit Compute the total production cost per unit under absorption costing if 87,750 units had been produced. O $45.50 O $35.50 O $34.50 F2 F5 F6 F7 F8 O F3 0+ # F4 10 V
2.Given the following data, calculate the total product cost per unit under variable costing. Direct labor $3.50 per unit Direct materials $1.25 per unit Overhead Total variable overhead $41,400 Total fixed overhead $150,000 Expected units to be produced 18,000 units a.$4.75 per unit b.$7.05 per unit c.$15.38 per unit d.$13.08 per unit e.$16 per unit
Direct material $0.10, Direct laber is $0.25, Variable Overhead is $0.10, Fixed overhead is $0.40 what is the fixed costs per unit, the total cost per unit, and gross margin if 1,600,000 units were produced?
Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. The variable overhead rate is $8. per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. What is the standard product cost for product M? Direct material Direct labor Variable overhead Fixed overhead Standard product cost per unit $ $
6
The standard cost sheet for a product is shown. Standard Cost Manufacturing Costs Standard price Standard Quantity per unit Direct materials $4.50 per pound 5.70 pounds $ 25.65 Direct labor $11.87 per hour 2.00 hours $ 23.74 Overhead $2.20 per hour 2.00 hours $ 4.40 $ 53.79 The company produced 3,000 units that required: 17,600 pounds of material purchased at $4.35 per pound • 5,910 hours of labor at an hourly rate of $12.17 per hour • Actual overhead in the period was $13,540 Fill in the Budget Performance Report for the period. Some amounts are provided. Round your answers to the ne Budget Performance Report Variance Manufacturing Costs: Actual Standard (Favorable)/ 3,000 units Costs Costs Unfavorable Direct materials $76,560 Direct labor 71,220 Overhead 13,540 $655
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Assume the following: • The variable portion of the predetermined overhead rate is $1.50 per direct labor-hour. • The standard labor-hours allowed per unit of finished goods is 3 hours. • The variable overhead efficiency variance is $1,500 F. • The company produced 15,000 units of finished goods during the period. What is the actual quantity of direct labor-hours worked during the period? Multiple Choice о о O O 44,000 hours 44,500 hours 43,500 hours 43,000 hours
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Subject: Accounting
Schwiesow Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Multiple Choice O $14,750 Variable administrative expense Fixed selling and administrative expense If 4,500 units are produced, the total amount of manufacturing overhead cost is closest to:
The following standard costs were developed for one of the products of Razzmatazz Corporation: STANDARD COST CARD PER UNIT Materials: 4 feet × $14.25 per foot $ 57.00 Direct labor: 8 hours × $10 per hour 80.00 Variable overhead: 8 direct labor hours × $8 per hour 64.00 Fixed overhead: 8 direct labor hours × $12 per hour 96.00 Total standard cost per unit $297.00 The following information is available regarding the company's operations for the period: Units produced: 11,000 Materials purchased: 52,000 feet at $13.95 per foot Materials used: 40,000 feet Direct labor: 84,000 hours costing $840,000 Manufacturing overhead incurred: Variable $756,000 Fixed $1,000,000 Budgeted fixed manufacturing overhead for the period is $960,000, and the standard…