Image is for required part 1 Required 2) compute total budgeted cost for June (standard cost) production Required 3) compute total actual costs for June production. Required 4) Compute total cost variance for June. Note indicate the effect of the variance by selecting favor, unfavorable, or no variance. ### Required Information**Use the following information for the Exercises below. (Algo)**[The following information applies to the questions displayed below.]A manufactured product has the following information for June:| | Standard Quantity and Cost | Actual Results ||-----------------|-----------------------------|-------------------------------------|| Direct materials| 6 pounds @ $7 per pound | 44,300 pounds @ $7.20 per pound || Direct labor | 2 DLH @ $17 per DLH | 14,400 hours @ $17.50 per hour || Overhead | 2 DLH @ $11 per DLH | $165,900 || Units manufactured | | 7,300 units |---### Exercise 23-8 (Algo) Standard Cost per Unit, Total Budgeted and Actual Costs, and Total Cost Variance1. Prepare the standard cost card showing standard cost per unit.2. Compute total budgeted cost for June production.3. Compute total actual cost for June production.4. Compute total cost variance for June.Complete this question by entering your answers in the tabs below.#### Required 1**Prepare the standard cost card showing standard cost per unit.**| | ||---------------------|---------------------------|| Direct materials | || Direct labor | || Overhead | || **Total** | **$0** |---Navigate to complete additional requirements using the tabs to the left or right.

Name: Image is for required part 1 Required 2) compute total budgeted cost f
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Image is for required part 1 Required 2) compute total budgeted cost for June (standard cost) production Required 3) compute total actual costs for June production. Required 4) Compute total cost variance for June. Note indicate the effect of the va

The standard cost per unit include materials, labor and overhead costs. The variance can be classified as favorable or unfavorable.Part 1. Standard cost per unit: Direct materials [ 6 pounds * $7 ]$42.00Direct labor [ 2 DLH * $17]$34.00Overhead [ 2 DLH * $11 ]$22.00Total Standard cost per unit$98.00 Part 2.Budgeted cost Standard cost per unit$98.00(*) Actual units manufactured7300Total budgeted (standard) cost $ 715,400 Part 3.Actual cost Direct materials [ 44,300 pounds * $7.20 ] Actual cost Direct materials [ 44,300 pounds * $7.20 ] $ 318,960Direct labor [14,400 hours * $17.50] $ 252,000Overhead $ 165,900Actual cost $ 736,860nbsp; 318,960Direct labor [14,400 hours * $17.50] Actual cost Direct materials [ 44,300 pounds * $7.20 ] $ 318,960Direct labor [14,400 hours * $17.50] $ 252,000Overhead $ 165,900Actual cost $ 736,860nbsp; 252,000Overhead Actual cost Direct materials [ 44,300 pounds * $7.20 ] $ 318,960Direct labor [14,400 hours * $17.50] $ 252,000Overhead $ 165,900Actual cost $ 736,860nbsp; 165,900Actual cost $ 736,860 Part 4.Cost variance: Total budgeted (standard) cost $ 715,400 Actual cost $ 736,860 Total cost variance $ (21,460)unfavorable Note : As the actual cost is greater than the standard cost, therefore the variance is unfavorable.Part 1.Standard cost per unit = $98Part 2.Budgeted cost = $715,400Part 3.Actual cost = $736,860 Part 4.Cost variance = $21,460 Note : As the actual cost is greater than the standard cost, therefore the variance is unfavorable.