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Fortes Incorporated has provided the following data concerning one of the products in its standard...

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Accounting

Fortes Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
\table[[\table[[Standard Quantity or],[Hours per Unit of]]],[Inputs,Output,Standard Price or Rate,],[Direct materials,6.9 ounces,$7.40 per ounce,],[Direct labor,0.5 hours,$27.70 per hour,],[Variable manufacturing overhead,0.5 hours,$5.70 per hour,]]
The company has reported the following actual results for the product for April:
\table[[Actual output,8,700 units],[Raw materials purchased,62,180 ounces],[Actual cost of raw materials purchased,$348,670
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