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Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on...

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Accounting

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:

Direct materials: 5 pounds at $10 per pound $ 50
Direct labor: 3 hours at $17 per hour 51
Variable overhead: 3 hours at $7 per hour 21
Total standard cost per unit $ 122

The planning budget for March was based on producing and selling 24,000 units. However, during March the company actually produced and sold 30,600 units and incurred the following costs:

Purchased 170,000 pounds of raw materials at a cost of $9.00 per pound. All of this material was used in production.

Direct laborers worked 68,000 hours at a rate of $18 per hour.

Total variable manufacturing overhead for the month was $512,040.

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