Ask Question
23 January, 16:19

tandard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. The variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. What is the standard product cost for product M? Direct material Answer Direct labor Answer Variable overhead Answer Fixed overhead Answer Standard product cost per unit Answer

+2
Answers (1)
  1. 23 January, 17:05
    0
    Standard cost = $23

    Explanation:

    Giving the following information:

    Production of M requires 2 pounds of material P, costing $4 per pound

    0.5 hour of direct labor costing, $10 per hour.

    The variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour.

    Standard cost = direct material + direct labor + total manufactuing overhead

    Standard cost = 2*$4 + 0.5*10 + (0.5*8 + 0.5*12) = $23
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “tandard Product Costs Deerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $4 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers