rims.meducat xercise - Chapter 10/10A Saved Help Save & Exit Subn Check my work 4 83 arts The standard cost card for the single product manufactured by Cutter, Inc., is given below. (1) (2) Standard Standard Standard Quantity Price Cost Inputs or Hours or Rate (1) X (2) Direct materials 4.4 yards $ 2.00 per yard $ 8.80 Direct labor 0.8 hours $14.00 per hour 11.20 Variable overhead 0.8 hours $ 1.50 per hour 1.20 Fixed overhead 0.8 hours $ 4.00 per hour 3.20 Total standard cost per unit $24.49 eBook Print References Manufacturing overhead is applied to production on the basis of standard direct labor-hours. During the year, the company worked 8,920 hours and manufactured 10,900 units of product Selected data relating to the company's fixed manufacturing overhead cost for the year are shown below: Fixed overhead Actual Fixed Budgeted Fixed Applied to Overhead Overhead Work in Process $35,800 ? hours x $? per hour - $? Exercise - Chapter 10/10A Help Save & Exit Submit Check my work 4 083 points ? hours * $? per hour $35,800 - $? Budget variance, Volume variance, $? $1,280 F Required: 1. What were the standard hours allowed for the year's production? 2. What was the amount of budgeted fixed overhead cost for the year? 3. What was the fixed overhead budget variance for the year? (Indicate the effect of each variance by selecting "F" for favorable, "U" 4. What denominator activity level did the company use in setting the predetermined overhead rate for the year? 1. Standard hours allowed for the year's production 2 Budgeted fixed overhead cost 3 Budget variance 4. Denominator activity $ 8,720 DLH 34.800 9200 8,720 DLHS $