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2008-12-14_041836_bhalu_2

2008-12-14_041836_bhalu_2 - DEF Company produces and sells...

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DEF Company produces and sells a single product. The standard cost card follows: Standard Cost Card-per Unit of Product Direct materials, 2 feet at $8.45 per foot ; $16.90 Direct labor, 1.4 direct labor hours at $16.00 per direct labor hour $22.40 Variable overhead, 1.4 direct labor hours at $2.5 per direct labor hour $3.50 Fixed overhead, 1.4 direct labor hours at $6.00 per direct labor hour $8.40 Standard cost per unit &nb sp; $51.20 The following additional information is available for the year just completed: a. The company manufactured 30,000 units of product during the year. b. A total of 64,000 feet of material was purchased during the year at a cost of $8.55 per foot. All of this material was used to manufacture the 30,000 units. There were no beginning or ending inventories for the year. c. The company worked 43,500 direct labor hours during the year at a direct labor cost of $15.80 per hour. d. Overhead is applied to product on the basis of standard direct labor hours. Data relating to manufacturing overhead cost follow: Denominator activity level (direct labor hours)……………………………$35,000 Budgeted fixed overhead costs (from the overhead flexible budget) ……….210,000 Actual variable overhead costs incurred…………………………………….108,000
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