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Exercise 8-7 (Static) Standard cost per unit, total budgeted cost, and total cost variance LO P2 Actual Results A manufactured product has the following information for August Standard Quantity and cost Direct materials 2 pounds per unit ! $2.50 per pound Direct labor 0.5 hour per unit ! $16 per DLR Overhead $12 per DLH Units manufactured Total manufacturing costs (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 bes 12,000 units $ 225,400 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.) Standard price or rate Inputs Direct materials Direct labor Overhead Total Standard quantity or hours pounds DLH DLH Standard cost per unit $ 5.001 8.00 6.00 $ 19.00 Required 1 Required 2 > Prev 1 of 10 !!! Next > 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 Actual Results Standard Quantity and cost Direct materials 2 pounds per unit e $2.50 per pound Direct labor 0.5 hour per unit @ $16 per DLR Overhead $12 per DLH Units manufactured Total manufacturing costs (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. 12,000 units $ 225,400 Complete this question by entering your answers in the tabs below. 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 Actual Results Direct materials Direct labor Overhead Units manufactured Total manufacturing costs Standard Quantity and cost 2 pounds per unit e $2.50 per pound 0.5 hour per unit @ $16 per DLH $12 per DLH 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 Compute the total cost variance for August. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total cost variance