Question

Products is a manufacturer of large flower pots for urban settings. The company has these​ standards: LOADING...​(Click the icon to view the​ standards.) Requirements 1. Compute the standard cost of each of the following inputs per​ pot: direct​ materials, direct​ labor, variable manufacturing​ overhead, and fixed manufacturing overhead. 2. Determine the standard cost of one flower pot. Requirement 1. Compute the standard cost of each of the following inputs per​ pot: direct​ materials, direct​ labor, variable manufacturing​ overhead, and fixed manufacturing overhead. ​(Round your answers to the nearest​ cent.) ▼ x = Standard cost of input

Answer 1

Answer and Explanation:

The computation is shown below:

1. The standard cost for each one is as follows

For Direct materials, it is

= 9.6 pounds × $4.55 Per pound

= $43.68

For Direct labour, it is  

= 1 hour × $15.80 per hour

= $15.8

For Variable manufacturing overhead, it is

= 1 hour × $3.40 per hour

= $3.40

For Fixed Manufacturing overhead, it is

= 1 hour × $6 per hour

= $6

2. The standard cost of one flower pot is shown below:

= $43.68 + $15.80 + $3.40 + $6

= $68.88