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Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: standard rate standard time per unit standard price standard quantity Variable factory overhead: standard rate Fixed factory overhead: standard rate a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per dining room table Direct labor: Direct materials (oak): $21.00 per hr. 3.50 hrs. $10.50 per bd. ft. 19 bd. ft. $2.80 per direct labor hr. $0.80 per direct labor hr. b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of management by exception major ✔cost deviations from standards can be investigated and corrected. ✔. Using this principle,

Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows: standard rate standard time per unit standard price standard quantity Variable factory overhead: standard rate Fixed factory overhead: standard rate a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. per dining room table Direct labor: Direct materials (oak): $21.00 per hr. 3.50 hrs. $10.50 per bd. ft. 19 bd. ft. $2.80 per direct labor hr. $0.80 per direct labor hr. b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of management by exception major ✔cost deviations from standards can be investigated and corrected. ✔. Using this principle,

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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**Standard Product Cost** Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa 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: $21.00 per hr. - Standard time per unit: 3.50 hrs. - **Direct materials (oak):** - Standard price: $10.50 per bd. ft. - Standard quantity: 19 bd. ft. - **Variable factory overhead:** - Standard rate: $2.80 per direct labor hr. - **Fixed factory overhead:** - Standard rate: $0.80 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. - ___ per dining room table b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of **management by exception**. ✔️ Using this principle, **major** ✔️ cost deviations from standards can be investigated and corrected.
Transcribed Image Text:**Standard Product Cost** Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa 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: $21.00 per hr. - Standard time per unit: 3.50 hrs. - **Direct materials (oak):** - Standard price: $10.50 per bd. ft. - Standard quantity: 19 bd. ft. - **Variable factory overhead:** - Standard rate: $2.80 per direct labor hr. - **Fixed factory overhead:** - Standard rate: $0.80 per direct labor hr. a. Determine the standard cost per dining room table. If required, round your answer to two decimal places. - ___ per dining room table b. A standard cost system provides Rosa Furniture management a cost control tool using the principle of **management by exception**. ✔️ Using this principle, **major** ✔️ cost deviations from standards can be investigated and corrected.
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