Lacrue Inc. has provided the following data concerning one of the products in it

Question

Lacrue Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours Standard Quantity or Hours per Unit of Output Standard Price or Rate Inputs Direct materials Direct labor Variable manufacturing overhead 5.50 per ounce 6.3 ounces 0.40 hours 0.40 hours $22.00 per hour $ 3.80 per hour The actual output for the period was 3,700 units. The total standard cost per unit is closest to Multiple Choice $55.03 per unit

Explanation / Answer

Standard quantity or hours Standard price or rate Total standard cost Direct material 6.3 $                                 5.50 $                          34.65 Direct labour 0.4 $                              22.00 $                            8.80 Variable manufacturing overhead 0.4 $                                 3.80 $                            1.52 Total standard cost $                          44.97

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