Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. The variable overhead rate is $8. per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. What is the standard product cost for product M? Direct material Direct labor Variable overhead Fixed overhead Standard product cost per unit $ $ LA

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Standard Product Costs
Deerfield Company manufactures product M in its
factory. Production of M requires 2 pounds of material P,
costing $4 per pound and 0.5 hour of direct labor
costing, $10 per hour. The variable overhead rate is $8.
per direct labor hour, and the fixed overhead rate is $12
per direct labor hour. What is the standard product cost
for product M?
Direct material
Direct labor
Variable overhead
Fixed overhead
Standard product cost per unit $
$
Transcribed Image Text:Standard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. The variable overhead rate is $8. per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. What is the standard product cost for product M? Direct material Direct labor Variable overhead Fixed overhead Standard product cost per unit $ $
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