(Solved): Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2 A ...

Exercise 21-7 (Algo) Standard cost per unit, total budgeted cost, and total cost variance LO P2 A manufactured product has the following information for August. Standard Quantity and Cost 2 pounds per unit @ $7.50 per pound 0.5 hour per unit @ $56 per DLH $72 per DLH Direct materials Direct labor Overhead Units manufactured Total manufacturing costs (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production in August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds DLH DLH Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. (Round your final answers to 2 decimal places.) Standard price or Standard rate cost per unit X < Required 1 Actual Results Required 2 14,000 units $ 1,104,400