Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2 A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 2 pounds per unit @ $4.00 per pound 0.5 hour per unit @ $28 per DLH $30 per DLH Actual Results Total manufacturing costs 12,600 units $ 460,400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. (Round your final answers to 2 decimal places.) Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds DLH x DLH x Standard price or rate Standard cost per unit < Required 1 Required 2 >

Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2 A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 2 pounds per unit @ $4.00 per pound 0.5 hour per unit @ $28 per DLH $30 per DLH Actual Results Total manufacturing costs 12,600 units $ 460,400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. (Round your final answers to 2 decimal places.) Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds DLH x DLH x Standard price or rate Standard cost per unit < Required 1 Required 2 >

Name: Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and
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Description: Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2A manufactured product has the following information for August.Direct materialsDirect laborOverheadUnits manufacturedTotal manufacturing costsStandard Qu

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Standard Quantity and Cost 6 pounds @ $8 per pound. 3 DLH@ $16 per DLH 3 DLH @ $13 per DLH Required 1 Complete this question by entering your answers in the tabs below. Required 4 Prepare the standard cost card showing standard cost per unit. Required 2 Direct materials Direct labor Overhead Total Required 3 Actual Results 44,300 pounds @ $8.10 per pound 21,500 hours @ $16.50 per hour $ 291, 200 7,300 units
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