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Hickory Furniture Company manufactures unfinished oak furniture. Hickory uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:   Direct labor: standard rate $18.00 per hour; standard time per unit 2.5 hours   Direct materials oak: standard price 9.50 per bd. ft; standard quantity 18 bd. ft.   Variable factory overhead: standard rate 2.80 per direct labor hour   Fixed factory overhead: standard rate 1.20 per direct labor hour     Determine the standard cost per dining room table. What is the total cost per unit?

Hickory Furniture Company manufactures unfinished oak furniture. Hickory uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:   Direct labor: standard rate $18.00 per hour; standard time per unit 2.5 hours   Direct materials oak: standard price 9.50 per bd. ft; standard quantity 18 bd. ft.   Variable factory overhead: standard rate 2.80 per direct labor hour   Fixed factory overhead: standard rate 1.20 per direct labor hour     Determine the standard cost per dining room table. What is the total cost per unit?

FINANCIAL ACCOUNTING
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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Hickory Furniture Company manufactures unfinished oak furniture. Hickory uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:

 

Direct labor: standard rate $18.00 per hour; standard time per unit 2.5 hours

 

Direct materials oak: standard price 9.50 per bd. ft; standard quantity 18 bd. ft.

 

Variable factory overhead: standard rate 2.80 per direct labor hour

 

Fixed factory overhead: standard rate 1.20 per direct labor hour

 

 

Determine the standard cost per dining room table. What is the total cost per unit?

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