Use the information provided to calculate standard costs: To make one switch it takes 19 feet of plastic-coated copper wire and 0.3 pounds of plastic material. The plastic material can usually be purchased for $16 per pound, and the wire costs $2.93 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.1 hours. These workers are paid $29 per hour. The second type of labor is fınishing, which takes 3.0 hours. These workers are paid $28 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.46 per labor hour. The fixed overhead rate is $15.52 per hour. What is the total standard cost for direct labor? Round to the nearest penny, two decimal places.

Use the information provided to calculate standard costs: To make one switch it takes 19 feet of plastic-coated copper wire and 0.3 pounds of plastic material. The plastic material can usually be purchased for $16 per pound, and the wire costs $2.93 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.1 hours. These workers are paid $29 per hour. The second type of labor is fınishing, which takes 3.0 hours. These workers are paid $28 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.46 per labor hour. The fixed overhead rate is $15.52 per hour. What is the total standard cost for direct labor? Round to the nearest penny, two decimal places.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4EA: Use the information provided to create a standard cost card for production of one glove box switch....

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