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Homework: Chapter 11 Graded Homework Save Score: 0 of 10 pts 6 of 6 (0 complete) HW Score: 0%, 0 of 30 pts P11-51A (similar to) Question Help X Data Table Anderson Manufacturing produces ceramic teapots. Anderson allocates overhead based on the number of direct labor hours. The company is looking in a batch of 100 teapots): 5 (Click the icon to view the standards.) Actual cost and operating data from the most recent month are as follow (Click the icon to view the actual results.) Data Table All manufacturing overhead is allocated on the basis of direct labor hours Read the requirements. Purchased 1,400 pounds at a cost of $3.70 per pound Used 1,200 pounds in producing 40 batches Actual direct labor cost of $1,430 at an average direct labor cost per hour of $14.30 Actual variable MOH $750 Actual fixed MOH $1,080 Standards: Requirement 1. Calculate the standard cost of one batch. Standard cost Standard cost per batch Direct materials Direct material 20 pounds per batch at $4.00 per pound Direct labor 2.0 hours per batch at $14.00 per hour Variable MOH standard rate $7.00 per direct labor hour Predetermined fixed MOH standard rate $6.00 per direct labor hour Total budgeted fixed MOH cost $880 Print Done Direct labor Variable MOH Fixed MOH Total standard cost Print Done Enter any number in the edit fields and then click Check Answer. ? 11 parts Clear All Check Answer remaining Homework: Chapter 11 Graded Homework Save Score: 0 of 10 pts 6 of 6 (0 complete) HW Score: 0%, 0 of 30 pts P11-51A (similar to) Data Table Question Help - X stem and has developed the following standards (one "unit" is Anderson Manufacturina produces ceramic teannte Anderson allocates overhead based od i Requirements Ad Data Table Re Standards: Direct material 20 pounds per batch at $4.00 per pound Direct labor 2.0 hours per batch at $14.00 per hour Variable MOH standard rate $7.00 per direct labor hour Predetermined fixed MOH standard rate $6.00 per direct labor hour Total budgeted fixed MOH cost $880 RE 1. Calculate the standard cost of one batch. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Have the company's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why or why not? 4. Describe how the company's managers can benefit from the standard costing system. Do you think the company should continue with the standard cost system? Purchased 1,400 pounds at a cost of $3.70 per pound Used 1,200 pounds in producing 40 batches Actual direct labor cost of $1,430 at an average direct labor cost per hour Actual variable MOH $750 D Print Done D Actual fixed MOH $1,080 V Fi Print Done TO Print Done Enter any number in the edit fields and then click Check Answer. 11 parts Clear All Check Answer remaining