Cumberland Furniture Company manufacturing unfinished oak furniture. Cumberland uses a standard cost system. The direct labor, direct

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Cumberland Furniture Company manufacturing unfinished oak furniture. Cumberland uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dinning room table are as follows:

(a) Determine the standard cost per dining room table.(b) Why would Cumberland use a standard cost system?

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Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Oct 12, 2011 10:31 AM

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Cumberland Furniture Company manufacturing unfinished oak furniture. Cumberland uses a standard cost system. The direct labor, direct

Question:

Direct labor: standard rate standard time per unit standard price standard quantity standard rate standard rate $16.00 per hr. 1.8 hrs. $12.50 per bd. ft. 17 bd. ft. $2.40 per direct labor hr. $1.10 per direct labor hr. Direct materials (oak): Variable factory overhead: Fixed factory overhcad:

Step by Step Answer:

a Direct labor 1600 18 hrs 2880 Direct materials 1250 7 bd ...View the full answer

Financial and Managerial Accounting

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