Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Unit Cost Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($308,040 906,000 units) Standard Quantity 8 sq ft. 0.26 hr. 0.26 hr. Parker Plastic had the following actual results for the past year: Number of units produced and sold Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Standard Price (Rate) $ 0.63 per sq. ft. $10.50 per hr. $ 1.50 per hr. 1,220,000 11,200,000 $ 6,720,000 305,000 $ $ $ 3,233,000 540,000 361,000 sss $5.04 2.73 0.39 0.34
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Unit Cost Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($308,040 906,000 units) Standard Quantity 8 sq ft. 0.26 hr. 0.26 hr. Parker Plastic had the following actual results for the past year: Number of units produced and sold Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Standard Price (Rate) $ 0.63 per sq. ft. $10.50 per hr. $ 1.50 per hr. 1,220,000 11,200,000 $ 6,720,000 305,000 $ $ $ 3,233,000 540,000 361,000 sss $5.04 2.73 0.39 0.34
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 33P: Business Specialty, Inc., manufactures two staplers: small and regular. The standard quantities of...
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