Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $21.00 per pound, and the wire costs $2.40 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $28.00 per hour. The second type of labor is finishing, which takes 1 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.50 per hour. Round your answer to two decimal places. Standard Cost $fill in the blank 1
Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $21.00 per pound, and the wire costs $2.40 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $28.00 per hour. The second type of labor is finishing, which takes 1 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.50 per hour. Round your answer to two decimal places. Standard Cost $fill in the blank 1
Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $21.00 per pound, and the wire costs $2.40 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $28.00 per hour. The second type of labor is finishing, which takes 1 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.50 per hour. Round your answer to two decimal places. Standard Cost $fill in the blank 1
Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $21.00 per pound, and the wire costs $2.40 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $28.00 per hour. The second type of labor is finishing, which takes 1 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.50 per hour. Round your answer to two decimal places.
Standard Cost
$fill in the blank 1
Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.
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