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 0.5 pounds of plastic material. The plastic material can usually be purchased for $20.00 per pound, and the wire costs $2.50 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.5 hours. These workers are paid $27.00 per hour. The second type of labor is finishing, which takes 2 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 $15.60 per
Use the information provided to create a
Standard cost card
| Standard Quantity | Standard Quantity Measurement | Standard Cost per Unit | Per Measurement | Cost Summary | |
|---|---|---|---|---|---|
| Direct Materials | |||||
| Plastic-coated copper | feet | $ | per foot | $ | |
| Plastic material | pounds | $ | per pound | $ | |
| Direct Labor | |||||
| Assembly | hours | $ | per hour | $ | |
| Finish | hours | $ | per hour | $ | |
| Manufacturing Overhead | |||||
| Variable overhead | hours | $ | per DL hour | $ | |
| Fixed overhead | hours | $ | per DL hour | $ | |
| Standard cost |
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