Excel solutions - 10_54_soln

Excel solutions - 10_54_soln - Problem 10-59 Student Name...

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Problem 10-59 Student Name: Instructor Class: McGraw-Hill/Irwin 1. SPRINGSTEEN COMPANY Standard Cost Schedule: Direct Material Construction Finishing Department Department Standard quantity: Direct material and parts in finished product: Veneered wood 7 lbs. - set(s) Bridge and strings - lbs. 1 set(s) Allowance for normal waste 1 lbs. - set(s) Total standard quantity per guitar 8 lbs. 1 set(s) Standard price: Direct material and parts: Veneered wood $12 per lb. Bridge and strings $15 per set Standard direct-material cost: Standard quantity 8 lbs. 1 set(s) Standard price $12 per lb. $15 per set Standard cost per guitar $96 per guitar $15 per guitar Actual output in July 500 guitars 500 guitars Total standard cost of direct material $48,000 $7,500 in July Standard Cost Schedule: Direct Labor Construction Finishing Department Department Standard direct-labor cost: Standard quantity 6 hrs. 3 hrs.
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