Kansas Company uses a standard cost accounting system (A+ Guaranteed)

Kansas Company uses a standard cost accounting system. In 2014, the company produced 28,400 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $13.00. Normal capacity was 49,920 direct labor hours. During the year, 130,200 pounds of raw materials were purchased at $0.96 per pound. All materials purchased were used during the year.

A)If the materials price variance was $1,302 favorable, what was the standard materials price per pound?

B)If the materials quantity variance was $7,838 unfavorable, what was the standard materials quantity per unit?

C)What were the standard hours allowed for the units produced?

D)If the labor quantity variance was $6,630 unfavorable, what were the actual direct labor hours worked?

E)If the labor price variance was $16,542 favorable, what was the actual rate per hour?

F)If total budgeted manufacturing overhead was $359,424 at normal capacity, what was the predetermined overhead rate?

G)What was the standard cost per unit of product?

Here’s the SOLUTION

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