Inco rated concerning of the produc Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Direct labor Standard Quantity or Hours per Unit of Output 7.40 grams haard cost system. Standard Price or Rate $ 10.20 per gram $ 19.60 per hour $ 4.90 per hour Variable manufacturing overhead 1.00 hours 1.00 hours The company produced 3,700 units of this product in November. Required: a. What is the total standard cost of one unit of this product? Note: Round your final answer to 2 decimal places. b. What was the standard grams allowed for the actual output of this product in November? c. What was the standard hours allowed for the actual output of this product in November?

Inco rated concerning of the produc Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Direct labor Standard Quantity or Hours per Unit of Output 7.40 grams haard cost system. Standard Price or Rate $ 10.20 per gram $ 19.60 per hour $ 4.90 per hour Variable manufacturing overhead 1.00 hours 1.00 hours The company produced 3,700 units of this product in November. Required: a. What is the total standard cost of one unit of this product? Note: Round your final answer to 2 decimal places. b. What was the standard grams allowed for the actual output of this product in November? c. What was the standard hours allowed for the actual output of this product in November?

Name: Becka Incorporated has provided the following data concerning one of
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Description: Becka Incorporated has provided the following data concerning one of the products in its standard cost system.Variable manufacturing overhead is applied to products on the basis of direct labor-hours.InputsDirect materialsStandard Quantity orHours p

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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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Becka Incorporated has provided the following data concerning one of the products in its standard cost system.
Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
Inputs
Direct materials
Standard Quantity or
Hours per Unit of
Output
7.40 grams
Standard Price or Rate
$ 10.20 per gram
$ 19.60 per hour
$ 4.90 per hour
Direct labor
Variable manufacturing overhead
1.00 hours
1.00 hours
The company produced 3,700 units of this product in November.
Required:
a. What is the total standard cost of one unit of this product?
Note: Round your final answer to 2 decimal places.
b. What was the standard grams allowed for the actual output of this product in November?
c. What was the standard hours allowed for the actual output of this product in November?
a. Total standard cost of one unit
b. Standard grams allowed for the
actual output
c. Standard hours allowed for the actual
output

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