Question: find only the direct labor elating to a single backpack are Highland Company produces a lightweight backpack that is popular with college students. Standard variable
elating to a single backpack are Highland Company produces a lightweight backpack that is popular with college students. Standard variable costs given below Standard Price or Rate $8 per yard Cost 5? or Hours Direct materials Direct labor 53 per direct 5? Total standard cost Overthead is applied to production on the basis of direct labor-hours. During March, 1,000 backpacks were manufactured and sold. Selected information relating to the month's production is given below Variable Materials Used Direct Labor Overhead 16,800 $15,000 $10,500 Total standard cost allowed" Actual costs incurred $3,800 Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance $1,200U For the month's production The following additional information is available for March's production Actual direct labor-hours Difference between standard and actual cost per backpack produced during March 1500 S0.15F Required 1. VWhat is the standard cost of a single backpack? Standard cost for March production 5 16.800 Materials Diract labor
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
