Sierra produces walarmos. Variable is applied based on direct labor hours. Sierra expects production for the coming period to be 4950 units. At that level of activity, variable overhead is expected to be $49500. It should take 2 direct labor hours to produce 1 walarmo. Actual results are as follows: Number of walarmos produced: 4500 Actual direct labor hours: 9900 Actual variable overhead cost: $59400 1. Complete the following standard cost sheet:

	Quantity	@	Price	Total
Direct materials	5 pieces		$3.00	$15.00
Direct labor	2 hours		$21.00	$42.00
Variable Overhead	2 hours		$	$
Standard Unit Cost				$

Hints: The variable overhead rate per hours is based on estimated variable overhead and estimated labor hours. A flexible budget is expected costs at the ACTUAL level of activity. What would be in a flexible budget for materials cost? What would be in a flexible budget for labor cost? What would be in a flexible budget for variable overhead cost?