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irina1246 [14]
3 years ago
12

Ship Co. produces storage crates that require 29.0 meters of material at $0.50 per meter and 0.35 direct labor hours at $13.00 p

er hour. Overhead is applied at the rate of $14 per direct labor hour. What is the total standard cost for one unit of product that would appear on a standard cost card
Business
1 answer:
anyanavicka [17]3 years ago
4 0

Answer:

Total standard cost per unit= $23.95

Explanation:

<u>First, we need to allocate overhead:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 14*0.35= $4.9

<u>Now, the total direct material and total direct labor:</u>

<u></u>

Direct material= 29*0.5= $14.5

Direct labor= 0.35*13= $4.55

<u>Finally, the total cost per unit:</u>

Total standard cost per unit= 4.9 + 14.5 + 4.55

Total standard cost per unit= $23.95

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Larkspur, Inc. reports net income of $89,770 in 2017. However, ending inventory was understated by $7,100. Collapse question par
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