The following information relates to the Hughs Co. Standards for Production Per Unit: ...

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Accounting

The following information relates to the Hughs Co.
Standards for Production Per Unit:
Materials: 1lbs.
Price per Pound: $3.00
Labor Hours: 1.5 hours.
Hourly Rate: $8
In the month of May the company produced 10,000 units. The following information represents the actual cost of production for May:
Materials: 11,000 lbs.
Materials Cost Per Pound: $2.50
Hours Worked: 14,000
Hourly Rate: $10
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