Reference no: EM133074534

Questions -

Q1. Use the information provided to calculate standard costs: To make one switch it takes 16 feet of plastic-coated copper wire and 0.4 pounds of plastic material. The plastic material can usually be purchased for $17 per pound, and the wire costs $2.38 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.3 hours. These workers are paid $26 per hour. The second type of labor is finishing, which takes 2.1 hours. These workers are paid $28 per hour. Overhead is applied using labor hours. The variable overhead rate is $14.71 per labor hour. The fixed overhead rate is $15.23 per hour. What is the total standard cost for manufacturing overhead?

Q2. Use the information provided to calculate standard costs: To make one switch it takes 17 feet of plastic-coated copper wire and 0.1 pounds of plastic material. The plastic material can usually be purchased for $20 per pound, and the wire costs $2.89 per foot. The labor necessary to assemble a switch consists of two types. The first type of labor is assembly, which takes 3.9 hours. These workers are paid $30 per hour. The second type of labor is finishing, which takes 2.5 hours. These workers are paid $29 per hour. Overhead is applied using labor hours. The variable overhead rate is $15.88 per labor hour. The fixed overhead rate is $14.85 per hour. What is the total standard cost?