Jungman 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 Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 7.05 ounces 0.65 hours Standard Price or Rate $ 8.70 per ounce $ 18.80 per hour 0.65 hours $ 5.30 per hour The company produced 4,900 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 ounces 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

Jungman 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 Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output 7.05 ounces 0.65 hours Standard Price or Rate $ 8.70 per ounce $ 18.80 per hour 0.65 hours $ 5.30 per hour The company produced 4,900 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 ounces 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

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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