Kansas Company uses a standard cost accounting system. In 2017, thecompany produced 27,600 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 50,300 directlabor hours. During the year, 130,200 pounds of raw materials werepurchased at $0.90 per pound. All materials purchased were usedduring the year.
If the materials price variance was $5,208 favorable, what wasthe standard materials price per pound? (Round answer to 2 decimalplaces, e.g. 2.75.)
Standard materials price per pound
$________
If the materials quantity variance was $13,423 unfavorable, whatwas the standard materials quantity per unit? (Round answer to 1decimal place, e.g. 1.5.)
Standard materials quantity per unit ______
What were the standard hours allowed for the unitsproduced?
Standard hours allowed____________
If the labor quantity variance was $4,800 unfavorable, what werethe actual direct labor hours worked?
Actual hours worked____________
If the labor price variance was $13,368 favorable, what was theactual rate per hour? (Round answer to 2 decimal places, e.g.2.75.)
Actual rate per hour $__________
If total budgeted manufacturing overhead was $367,190 at normalcapacity, what was the predetermined overhead rate? (Round answerto 2 decimal places, e.g. 2.75.)
Predetermined overhead rate $____________
What was the standard cost per unit of product? (Round answer to2 decimal places, e.g. 2.75.)
Standard cost per unit $___________
How much overhead was applied to production during theyear?
Overhead applied $__________
Kansas Company uses a standard cost accounting system. In 2017, thecompany produced 27,600 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 50,300 directlabor hours. During the year, 130,200 pounds of raw materials werepurchased at $0.90 per pound. All materials purchased were usedduring the year.
If the materials price variance was $5,208 favorable, what wasthe standard materials price per pound? (Round answer to 2 decimalplaces, e.g. 2.75.)
Standard materials price per pound
$________
If the materials quantity variance was $13,423 unfavorable, whatwas the standard materials quantity per unit? (Round answer to 1decimal place, e.g. 1.5.)
Standard materials quantity per unit ______
What were the standard hours allowed for the unitsproduced?
Standard hours allowed____________
If the labor quantity variance was $4,800 unfavorable, what werethe actual direct labor hours worked?
Actual hours worked____________
If the labor price variance was $13,368 favorable, what was theactual rate per hour? (Round answer to 2 decimal places, e.g.2.75.)
Actual rate per hour $__________
If total budgeted manufacturing overhead was $367,190 at normalcapacity, what was the predetermined overhead rate? (Round answerto 2 decimal places, e.g. 2.75.)
Predetermined overhead rate $____________
What was the standard cost per unit of product? (Round answer to2 decimal places, e.g. 2.75.)
Standard cost per unit $___________
How much overhead was applied to production during theyear?
Overhead applied $__________
