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Chapter 10 (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1)...

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Accounting

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Chapter 10 (1) Standard Quantity or Hours (2) Standard Price or Rate Standard Cost (1) (2) Inputs Direct materials. Direct labor Variable manufacturing overhead. Total standard cost per unit 6 pounds 0.8 hours 0.8 hours $3 per pound $15 per hour $3 per hour $18.00 12.00 2.40 $32.40 Total Standard Cost Variances Reported Price Quantity or or Rate Efficiency $6.900 F $9.000 U $14.550 U $21,000 U $1,300 F $? U Direct materials. Direct labor... Variable manufacturing overhead. $405,000 $270,000 $54,000 * Applied to Work in Process during the period. 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? 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor-hour? 6. How much actual variable manufacturing overhead cost was incurred during the period

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