50.1K

Verified Solution

Link Copied!

Problem 11-4A (Video) Kansas Company uses a standard cost accounting system. In 2020, the company produced 28,500 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $13.00. Normal capacity was 49,900 direct labor hours. During the year, 131,300 pounds of raw materials were purchased at $0.91 per pound. All materials purchased were used during the year. If the materials price variance was $5,252 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM If the materials quantity variance was $16,435 unfavorable, what was the standard materials quantity per unit? Standard materials quantity per unit pounds LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM What were the standard hours allowed for the units produced? Standard hours allowed hours If the labor quantity variance was $6,500 unfavorable, what were the actual direct labor hours worked? Actual hours worked hours LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM If the labor price variance was $13,830 favorable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 2.75.) Actual rate per hour LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM If total budgeted manufacturing overhead was $329,340 at normal capacity, what was the predetermined overhead rate based on direct labor hours? (Round answer to 2 decimal places, e.g. 2.75.) Predetermined overhead rate $ LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.) Standard cost per units LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM How much overhead was applied to production during the year? Overhead applied S LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM Using one or more answers above, what were the total costs assigned to work in process? (Round standard cost per unit to 2 decimal places, e.g. 2.75 and final answer to O decimal places, e.g. 125.) Total costs assigned Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR

Answer & Explanation Solved by verified expert

See Answer