Kansas Company uses a standard cost accounting system. In 2017,the company produced 27,700 units. Each unit took several pounds ofdirect materials and 1.6 standard hours of direct labor at astandard hourly rate of $12.00. Normal capacity was 50,100 directlabor hours. During the year, 130,900 pounds of raw materials werepurchased at $0.91 per pound. All materials purchased were usedduring the year.
1. If the materials price variance was $1,309 favorable, whatwas the standard materials price per pound? (Round answer to 2decimal places, e.g. 2.75.)
Standard materials price per pound $_________
2. If the materials quantity variance was $15,944 unfavorable,what was the standard materials quantity per unit? (Round answer to1 decimal place, e.g. 1.5.)
Standard materials quantity per unit? ________________
3. What were the standard hours allowed for the unitsproduced?
Standard hours allowed? _____________
4. If the labor quantity variance was $6,000 unfavorable, whatwere the actual direct labor hours worked?
Actual hours worked_____________
5. If the labor price variance was $4,482 favorable, what wasthe actual rate per hour? (Round answer to 2 decimal places, e.g.2.75.)
Actual rate per hour $_____________________
6. If total budgeted manufacturing overhead was $355,710 atnormal capacity, what was the predetermined overhead rate? (Roundanswer to 2 decimal places, e.g. 2.75.)
Predetermined overhead rate $
7. What was the standard cost per unit of product? (Round answerto 2 decimal places, e.g. 2.75.)
Standard cost per unit $
8. How much overhead was applied to production during theyear?
Overhead applied $
9. Using one or more answers above, what were the total costsassigned to work in process? (Round standard cost per unit to 2decimal places, e.g. 2.75 and final answer to 0 decimal places,e.g. 125.)
Total costs assigned $
Kansas Company uses a standard cost accounting system. In 2017,the company produced 27,700 units. Each unit took several pounds ofdirect materials and 1.6 standard hours of direct labor at astandard hourly rate of $12.00. Normal capacity was 50,100 directlabor hours. During the year, 130,900 pounds of raw materials werepurchased at $0.91 per pound. All materials purchased were usedduring the year.
1. If the materials price variance was $1,309 favorable, whatwas the standard materials price per pound? (Round answer to 2decimal places, e.g. 2.75.)
Standard materials price per pound $_________
2. If the materials quantity variance was $15,944 unfavorable,what was the standard materials quantity per unit? (Round answer to1 decimal place, e.g. 1.5.)
Standard materials quantity per unit? ________________
3. What were the standard hours allowed for the unitsproduced?
Standard hours allowed? _____________
4. If the labor quantity variance was $6,000 unfavorable, whatwere the actual direct labor hours worked?
Actual hours worked_____________
5. If the labor price variance was $4,482 favorable, what wasthe actual rate per hour? (Round answer to 2 decimal places, e.g.2.75.)
Actual rate per hour $_____________________
6. If total budgeted manufacturing overhead was $355,710 atnormal capacity, what was the predetermined overhead rate? (Roundanswer to 2 decimal places, e.g. 2.75.)
Predetermined overhead rate $
7. What was the standard cost per unit of product? (Round answerto 2 decimal places, e.g. 2.75.)
Standard cost per unit $
8. How much overhead was applied to production during theyear?
Overhead applied $
9. Using one or more answers above, what were the total costsassigned to work in process? (Round standard cost per unit to 2decimal places, e.g. 2.75 and final answer to 0 decimal places,e.g. 125.)
Total costs assigned $
