Use the information provided to calculate standard costs: To make one switch it takes 15 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $19 per pound, and the wire costs $2.68 per foot. The labor necessary to assemble a switch consists of two types. The fırst type of labor is assembly, which takes 3.7 hours. These workers are paid $29 per hour. The second type of labor is finishing, which takes 3.0 hours. These workers are paid $25 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.06 per labor hour. The fixed overhead rate is $14.70 per hour. What is the total standard cost for direct materials? Round to the nearest penny, two decimal places.

Use the information provided to calculate standard costs: To make one switch it takes 15 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $19 per pound, and the wire costs $2.68 per foot. The labor necessary to assemble a switch consists of two types. The fırst type of labor is assembly, which takes 3.7 hours. These workers are paid $29 per hour. The second type of labor is finishing, which takes 3.0 hours. These workers are paid $25 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.06 per labor hour. The fixed overhead rate is $14.70 per hour. What is the total standard cost for direct materials? Round to the nearest penny, two decimal places.

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Description: Use the information provided to calculate standard costs:To make one switch it takes 15 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $19 per pound, and the wire costs $2.68

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4EA: Use the information provided to create a standard cost card for production of one glove box switch....

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Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.5 pounds of plastic material. The plastic material can usually be purchased for $20.00 per pound, and the wire costs $2.50 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.5 hours. These workers are paid $27.00 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.60 per hour. Round to the penny, two decimal places. Direct Materials Plastic-coated copper Plastic material Direct Labor Assembly Finish Manufacturing Overhead Variable overhead Fixed overhead Standard cost Standard Quantity Standard cost card Standard Quantity Standard Cost per Measurement Unit feet…
To make one switch it takes 16 feet of plastic-coated copper wire and 0.5 pounds of plastic material. The plastic material can usually be purchased for $20.00 per pound, and the wire costs $2.50 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.5 hours. These workers are paid $27.00 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.60 per hour. Use the information provided to create a standard cost card for production of one glove box switch under the format of direct materials, direct labor, manufacturing overhead, and standard cost. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Use the information provided to create a standard cost card for production of one glove box switch. To make one switch it takes 16 feet of plastic-coated copper wire and 0.5 pounds of plastic material. The plastic material can usually be purchased for $20.00 per pound, and the wire costs $2.50 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.5 hours. These workers are paid $27.00 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid $29.00 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.90 per labor hour. The fixed overhead rate is $15.60 per hour. Round to the penny, two decimal places. Standard cost card Standard Quantity Standard Quantity Measurement Standard Cost per Unit Per Measurement Cost Summary Direct Materials Plastic-coated copper feet $ per foot $ Plastic material pounds $ per pound $ Direct…