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Lasser Company plans to produce 15,000 units next period at a denominator activity of 45,000 direct labor-hours. The direct labor wage rate is $11.00 per hour. The company's standards allow 2 yards of direct materials for each unit of product; the material costs $7.70 per yard. The company's budget includes variable manufacturing overhead cost of $2.20 per direct labor-hour and fixed manufacturing overhead of $220,500 per period. Required: 1. Using 45,000 direct labor-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. 2. Complete the standard cost card below for one unit of product. Required 1 Required 2 Using 45,000 direct labor-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead rate per DLH Variable element per DLH Fixed element per DLH Required 1 Required 2 Complete the standard cost card below for one unit of product: (Except standard hours, round your intermediate calculations and final answers to 2 decimal places.) (1) x (2) (2) Standard Price Inputs (1) Standard Quantity or Hours 2 yards or Standard Cost Rate Direct materials $7.7 per yard $ 15.40 hours per hour Direct labor Variable manufacturing overhead Fixed manufacturing overhead hours per hour hours per hour Total standard cost per unit

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