Question: There are TWO questions. Please help 1. Use the information provided to calculate standard costs: To make one switch it takes 19 feet of plastic-coated
There are TWO questions. Please help
1. Use the information provided to calculate standard costs:
To make one switch it takes 19 feet of plastic-coated copper wire and 0.2 pounds of plastic material. The plastic material can usually be purchased for $20 per pound, and the wire costs $2.89 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.4 hours. These workers are paid $25 per hour. The second type of labor is finishing, which takes 2.5 hours. These workers are paid $29 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.51 per labor hour. The fixed overhead rate is $14.73 per hour.
What is the total standard cost for manufacturing overhead? Round to the nearest penny, two decimal places.
2. Use the information provided to calculate standard costs:
To make one switch it takes 20 feet of plastic-coated copper wire and 0.3 pounds of plastic material. The plastic material can usually be purchased for $19 per pound, and the wire costs $2.61 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.2 hours. These workers are paid $26 per hour. The second type of labor is finishing, which takes 2 hours. These workers are paid $27 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.25 per labor hour. The fixed overhead rate is $14.48 per hour.
What is the total standard cost? Round to the nearest penny, two decimal places.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
