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Thyne Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.Inputs Standard Quantity or Hours per Unit of Output Standard Price or RateDirect materials 6.9 grams $ 9.20 per gramDirect labor 0.90 hours $ 21.20 per hourVariable manufacturing overhead 0.90 hours $ 3.60 per hourThe actual output for the period was 3,900 units.The standard amount of materials allowed for the actual output is closest to:Garrison 16e Rechecks 2017-07-14Multiple Choice26,910 grams28,980 grams26,900 grams24,979 grams

Answer :

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Thyne Inc.'s standard total cost is $85.8 per unit.

What makes total cost?

  • The simplest definition of total cost (TC) is all the expenses incurred in creating or carrying out an activity.
  • In economics, the total cost is made up of both fixed and variable costs.
  • Variable costs (VC) are expenses that vary according on how many items you purchase or how much of a service you utilise.

How do figure out the total cost? 

The given data is,

Direct material= 6.9 grams, $ 9.20 per gram.

Direct labor= 0.90 hours, $ 21.20 per hours.

Variable manufacturing = 0.90 hours, $ 3.60 per hour.

Standard cost per unit

Direct material (6.9×9.2) =63.48

Direct labour (0.9×21.2) =19.08

Variable manufacturing overhead (0.9×3.6) = 3.24

Total standard cost = 85.8 Per unit

Thyne Inc.'s standard total cost is $85.8 per unit.

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