Case 10-17 Working Backwards from Variance Data [LO10-1, L010-2, LO10-3] Vitex, Inc. manufactures a popular consumer product and it has provided the following data excerpts from its standard cost system Standard Cost Standard (1) Standard Quantity or Hours Price or Rate 29 Inputs per 16.30 pound Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit 2.30 pounds 1.00 hours 37.49 $15.40 per hour $15.40 9.60 per hour 9.60 $62.49 1.00 hours Total Variances Reported Standard Price Quantity or Cost or Rate Efficiency $712,310 $13,253 F $32,600 U $292,600 $ 4,000 U $15,400 U Variable manufacturing overhead $182,400 $4,800 F $?' U Direct materials Direct labor Applied to Work In Process during the perlod The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the perlod were used in production. Work In process Inventorles are Insignificant and can be ignored Required 1.00 hours 9.60 per hour $ 9.60 overhead Total standard cost per unit $62.49 30 oints Total Variances Reported Standard Price Quantity or Cost or Rate Efficiency 02:37:18 Direct materials $712,310 $13,253 F $32,600 U Direct labor $292,600 $ 4,000 U $15,400 U Variable manufacturing overhead $182,400 $ 4,800F $?' U Applied to Work in Process during the period The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the perlod were used in production. Work In process Inventories are insignificant and can be ignored Required 1. How many units were produced last period? 2. How many pounds of direct material were purchased and used in production? 3. What was the actual cost per pound of material? (Round your answer to 2 declmal places.) 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor-hour? (Round your answer to 2 declmal places.) 6. How much actual variable manufacturing overhead cost was incurred during the period? 1. Number of units produced 2. Pounds of direct material purchased and used in production 3. Actual cost per pound 4. Actual direct labor-hours 5.Actual rate per direct labor-hou 6. Actual variable manufacturing overhead cost 19,000 45,700 $ 16.83 19,260 $ 183,904