14 d. Providing for readily available unit cost information. e. All of these are advantages of standard costing.
66. The production data needed to calculate the standard unit cost as well as the underlying details for the standard cost per unit are provided in
67. Standard hours allowed are computed using the equation
68. The standard quantity of materials allowed is computed by the equation
69. An accountant would refer to a cost sheet to perform which of the following actions? a. Calculate standard cost per unit. b. Calculate efficiency variances. c. Calculate the total amount of inputs allowed for the actual output. d. All of these.
Figure 10-1. Flying High Company manufactures model airplanes. During the month, it manufactured 10,000 airplanes. Each one used an average of 6.5 direct labor hours and an average of 1.5 sheets of aluminum. It normally manufactures 7,500 airplanes. Materials and labor standards for making the airplanes are: Direct Materials (1 sheet of aluminum @ $10.00) $10.00Direct Materials (other accessories @ $8.75) 8.75Direct Labor (6 hours @ $7.00) 42.0070. Refer to Figure 10-1. Compute the standard hours allowed for a volume of 10,000 airplanes.