Exercise 8-7 (Static) Standard cost per unit, total budgeted cost, and total cost variance LO P2 A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured: Standard Quantity and Cost 2 pounds per unit $2.50 per pound 0.5 hour per unit $16 per DLH $12 per DLH Actual Results Total manufacturing costs 12,000 units $ 225,400 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. (Round your final answers to 2 decimal places.) Inputs Standard price or rate Standard cost per unit Direct materials Direct labor Overhead Standard quantity or hours pounds X DLH x DLH X Exercise 8-7 (Static) Standard cost per unit, total budgeted cost, and total cost variance A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard Quantity and Cost 2 pounds per unit @ $2.50 per pound 0.5 hour per unit $16 per DLH $12 per DLH (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Actual Results 12,000 units $ 225,400 Required 1 Required 2 Required 3 Compute total budgeted cost for production in August. Total budgeted cost Exercise 8-7 (Static) Standard cost per unit, total budgeted cost, and total cost variance LO P2 A manufactured product has the following information for August. Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard Quantity and Cost 2 pounds per unit $2.50 per pound 0.5 hour per unit $16 per DLH $12 per DLH Actual Results. (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. 12,000 units $225,400 Required 1 Required 2 Required 3 Compute the total cost variance for August. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total cost variance