Standard Product Cost Atlas Furniture Company manufactures designer home furniture Atlas uses a standard cost...
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Standard Product Cost Atlas Furniture Company manufactures designer home furniture Atlas uses a standard cost system The direc labor direct materials and factory overhead standards for an unfinished dining room table are as follows Direct labor 28 00 per hr 5 0 hrs 12 00 per bd ft 18 bd ft standard rate standard time per unit standard price standard Variable factory overhead standard rate Fixed factory overhead standard rate a Determine the standard cost ner dining room table X P Incorrect Direct materials oak quantity Feedback 2 00 per direct labor hr 3 80 per direct labor hr b A standard cost system provides Atlas Furniture Company s management a cost control tool using the principle of management by exception Using this principle major cost deviations from standards can be investigated and corrected Check My Work Remember the process discussed in chapter for calculating standard cost
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