Dorantes Manufacturing Company uses a standard cost system. In 2010, 28,000 units were produced. Each unit took several pounds of direct materials and 11/2 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,000 direct labor hours. During the year, 131,000 pounds of raw materials were purchased at $0.92 per pound. All materials purchased were used during the year.
If the materials price variance was $2,620 favorable, what was the standard materials price per pound?
$ per pound. (Round answer to 2 decimal places, e.g. 10.50.)
If the materials quantity variance was $4,700 unfavorable, what was the standard materials quantity per unit?
pounds per unit.(Round answer to 1 decimal place, e.g. 10.5.)
What were the standard hours allowed for the units produced?
If the labor quantity variance was $7,200 unfavorable, what were the actual direct labor hours worked? actual hours worked
If the labor price variance was $10,650 favorable, what was the actual rate per hour?
$ actual rate per hour. (Round answer to 2 decimal places, e.g. 10.50.)
If total budgeted manufacturing overhead was $350,000 at normal capacity, what was the predetermined overhead rate?
$ predetermined overhead rate per direct labor hour. (Round answer to 2 decimal places, e.g. 10.50.)
What was the standard cost per unit of product?
$ standard cost per unit. (Round answer to 2 decimal places, e.g. 10.50.)
How much overhead was applied to production during the year?
$ overhead applied Using one or more answers above, what were the total costs assigned to work in process?