Case 10-17 (Algo) Working Backwards from Variance Data [LO10-1, LO10-2, LO10-3] Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system: (1) Standard Quantity or Hours 2.30 pounds 1.00 hours 1.00 hours (2) Standard Price or Rate $16.90 per pound $15.70 per hour $ 9.30 per hour Standard Cost (1) (2) $ 38.87 $15.70 $9.30 $ 63.87 Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Direct materials Direct labor Variable manufacturing overhead Total Standard Cost* $ 738,530 $ 298,300 $ 176,700 Variances Reported Price or Rate $ 13,253 F $ 4,000 U $ 4,700 F Quantity or Efficiency $ 33,800 U $ 15,700 U $ ?tu *Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production based on direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored.

Case 10-17 (Algo) Working Backwards from Variance Data [LO10-1, LO10-2, LO10-3] Vitex, Incorporated, manufactures a popular consumer product and it provided the following data from its standard cost system: Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production based on direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored. Required: 1. How mary units were produced last period? 2. How many pounds of direct material were purchased and used in production? 3. What was the actual cost per pound of materlal? Note: Round your answer to 2 decimal places. 4. How many actual direct labor-hours were worked during the period? 5. What was the actual rate paid per direct labor-hour? Note: Round your answer to 2 decimal places. 6. How much actual variable manufacturing overhead cost was incurred during the period