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Homework answers / question archive / Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture

Standard Product Cost Sana Rosa Furniture Company manufactures designer home furniture

Accounting

Standard Product Cost

Sana Rosa Furniture Company manufactures designer home furniture. Sana Rosa uses a standard cost system. The direct labor, direct materials, and factory overhead standards for an unfinished dining room table are as follows:

Direct labor: standard rate $21.00 per hr.
  standard time per unit 2.50 hrs.
Direct materials (oak): standard price $10.00 per bd. ft.
  standard quantity 18 bd. ft.
Variable factory overhead: standard rate $2.80 per direct labor hr.
Fixed factory overhead: standard rate $1.20 per direct labor hr.

a. Determine the standard cost per dining room table. If required, round your answer to two decimal places.

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a.

  Standard quantity/hours Standard price/rate  
Direct materials 18 $10 $180
Direct labor 2.50 21 52.5
Variable factory overhead 2.50 2.80 7
Fixed factory overhead 2.50 1.20 3
Total Standard cost per dining room table $242.5

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