What the answer for 5 it’s not 15.70 or 1.20 Direct materialsDirect laborVariable manufacturing overheadTotalStandardCost*$ 551,100$ 235,500$ 144,000Price or Rate$ 10,150 F$ 3,200 U$ 4,400 FVariances ReportedApplied to Work in Process during the period.The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchasedduring the period were used in production. Work in process inventories are insignificant and can be ignored.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? (Round your answer to 2 decimal places.)Answer is not complete.1. Number of units produced2. Pounds of direct material purchased and used in production3. Actual cost per pound4. Actual direct labor-hours5. Actual rate per direct labor-hour6. Actual variable manufacturing overhead cost4. How many actual direct labor-hours were worked during the period?5. What was the actual rate paid per direct labor-hour? (Round your answer to 2 decimal places.)6. How much actual variable manufacturing overhead cost was incurred during the period?15,00035,000$16.41✓16,000$Quantity orEfficiency$ 33,400 U$ 15,700 U$ 2+ U149,200Prev1 of 5Next >Return Vitex, Incorporated manufactures a popular consumer product and it has provided the following data excerpts from its standard costsystem:InputsDirect materialsDirect laborVariable manufacturing overheadTotal standard cost per unit(1) StandardQuantity or Hours2.20 pounds1.00 hours1.00 hoursTotalStandardCost*$ 551,100$ 235,500$ 144,000Required:1. How many units were produced last period?1. Number of units produced2. Pounds of direct material purchased and used in production3. Actual cost per pound4. Actual direct labor-hoursC Antial rato por direct lahor hair(2) Standard Price or Standard Cost(1) × (2)$ 36.74$15.70$9.60$ 62.04Variances ReportedRate$ 16.70 per pound$15.70 per hour$9.60 per hourPrice or Rate$ 10,150 F$ 3,200 U$ 4,400 FDirect materialsDirect laborVariable manufacturing overheadApplied to Work in Process during the period.The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchasedduring the period were used in production. Work in process inventories are insignificant and can be ignored.$2. How many pounds of direct material were purchased and used in production?3. What was the actual cost per pound of material? (Round your answer to 2 decimal places.)4. How many actual direct labor-hours were worked during the period?5. What was the actual rate paid per direct labor-hour? (Round your answer to 2 decimal places.)6. How much actual variable manufacturing overhead cost was incurred during the period?PrevQuantity orEfficiency$ 33,400 U$ 15,700 U$ 2¹ U15,00035,00016.4116,000wwwwwwwwwww1 of 5 ⠀⠀Next >Check n

Variance is the difference between actual and standard cost. Actual Direct labour cost is the…

3 Cost* $ 551,100 $ 235,500 $ 144,000 Price or Rate $ 10,150 F $ 3,200 U $ 4,400 F Efficiency $ 33,400 U $ 15,700 U $ 2+ U he period. head cost is applied to production on the basis of direct labor-ho

3 Cost* $ 551,100 $ 235,500 $ 144,000 Price or Rate $ 10,150 F $ 3,200 U $ 4,400 F Efficiency $ 33,400 U $ 15,700 U $ 2+ U he period. head cost is applied to production on the basis of direct labor-ho

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 13E: Wyandotte Company provided the following information for the last calendar year: During the year,...

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The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
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