Lesson #7, Assignment #2

# Lesson #7, Assignment #2 - Student Name: Class: Problem...

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Student Name: Class: Problem 10-30 VITALITE, INC. Computations 1. Total standard cost for units produced during August: Total standard cost for units \$21,000 Less standard cost of labor and overhead: Direct labor 8,000 Variable manufacturing overhead (1,600) Standard cost of materials \$11,400 Correct! 2. Yards of material required at standard per kit: Standard cost of materials \$11,400 Number of units produced 500 Standard cost per kit \$22.80 Standard cost per yard 6.00 Yards per kit 3.8 Correct! 3. Materials price variance for August: Actual cost of material used \$10,000 Standard cost of material used 11,400 Total variance \$1,400 Favorable Price variance \$2,000 Favorable Quantity variance 600 Unfavorable Total variance \$1,400 Favorable Correct! 4. Standard direct labor rate per hour: Standard mfg. variable overhead cost \$1,600 Standard mfg. variable overhead cost per direct labor hour \$2 Standard direct labor-hours 800 Total standard labor cost 8,000 Direct labor-hours \$10 Correct!

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5 VITALITE, INC. Labor Rate Variance
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## This note was uploaded on 02/06/2011 for the course COMM 611 taught by Professor Mark during the Spring '11 term at Antelope Valley College.

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Lesson #7, Assignment #2 - Student Name: Class: Problem...

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