Reference no: EM132751179
Lee has obtained the following standard cost details for his company's single product.
Direct Material per unit (1.9m @ $5.9/m) $ 11.21
Direct Labour per unit (3.5 hours @ $15/hr) $ 52.50
Factory overhead per unit $129.55
Total Standard Cost per Unit $193.26
However, Lee wants to further understand the assumptions about factory overhead. He knows that:
1. the company applies factory overhead on the basis of standard direct labour hours
2. the denominator level of activity is 700 direct labour hours per month
3. fixed factory overhead is budgeted at $14,000 per month
Problem 1: Based on these assumptions, calculate the standard variable overhead cost per unit.
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