Business, 24.04.2020 23:25 Trinityslater
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $ 114.00. The company also established the following cost formulas for its selling expenses: Fixed Cost per Month Variable Cost per Unit Sold Advertising $ 340,000 Sales salaries and commissions $ 240,000 $ 12.00 Shipping expenses $ 3.00 The planning budget for March was based on producing and selling 28,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs:
a. Purchased 180,000 pounds of raw materials at a cost of $8.50 per pound. All of this material was used in production.
b. Direct-laborers worked 90,000 hours at a rate of $15.00 per hour.
c. Total variable manufacturing overhead for the month was $565,110.
d. Total advertising, sales salaries and commissions, and shipping expenses were $352,000, $565,200, and $129,000, respectively.
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Preble Company manufactures one product. Its variable manufacturing overhead is applied to productio...
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