Question

You have been given the following information about the production of Horatio Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations.Standard Cost CardDirect materials (7 pounds at $4 per pound) $28.00Direct labor (0.8 hours at $7) 5.60Variable overhead (0.8 hours at $4 per hour) 3.20Fixed overhead (0.8 hours at $8 per hour) 6.40$43.20The following is a variance report for the most recent period of operations.VariancesCosts Total Standard Cost Price QuantityDirect materials $405,900 $6,577 F $9,660Direct labor 81,178 5,670 U 7,060 U(a) How many units were produced during the period? (Round answers to 0 decimal places, e.g. 125.)(b) How many pounds of raw material were purchased and used during the period? (Round answers to 0 decimal places, e.g. 125.)(c) What was the actual cost per pound of raw materials? (Round to 2 decimal places, e.g. 1.25.)(d) How many actual direct labor hours were worked during the period? (Round answers to 0 decimal places, e.g. 125.)(e) What was the actual rate paid per direct labor hour? (Round to 2 decimal places, e.g. 1.25.)

Answer 1

Step-by-step explanation:

a)

Number of units produced

total standard cost/number of units

410,000/32

12813

answer

b)

How many pounds of raw materials purchased

(Aq used - standard qty allowed)*standard rate = materials Quantity variance

((4AQ - 410,000)=9,300