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Category > Accounting Posted 06 Aug 2017 My Price 9.00

Kansas Company

Kansas Company uses a standard cost accounting system. In 2014, the company produced 27,800 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,120 direct labor hours. During the year, 131,100 pounds of raw materials were purchased at $0.95 per pound. All materials purchased were used during the year.

 
If the materials price variance was $2,622 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.)
Standard materials price per pound   $
 

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If the materials quantity variance was $16,606 unfavorable, what was the standard materials quantity per unit? (Round answer to 1 decimal places, e.g. 1.5.)
Standard materials quantity per unit  
 

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What were the standard hours allowed for the units produced?
Standard hours allowed are  
 

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If the labor quantity variance was $4,920 unfavorable, what were the actual direct labor hours worked?
Actual hours worked  
 

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If the labor price variance was $13,916 favorable, what was the actual rate per hour? (Round answer to 2 decimal places, e.g. 2.75.)
Actual rate per hour   $
 

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If total budgeted manufacturing overhead was $375,900 at normal capacity, what was the predetermined overhead rate? (Round answer to 2 decimal places, e.g. 2.75.)
Predetermined overhead rate   $
 

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What was the standard cost per unit of product? (Round answer to 2 decimal places, e.g. 2.75.)
Standard cost per unit   $
 

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How much overhead was applied to production during the year?
Overhead applied   $
 

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Using one or more answers above, what were the total costs assigned to work in process?
Total costs assigned   $

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 08:08 PM My Price 9.00

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