Ewing Corporation's controller has developed the cost and usage data listed below in preparation of standard unit cost information for the coming year. Direct materials quantity standard 3 pounds per product Direct labor time standard 5 hours per product Direct materials price standard $10 per pound Direct labor rate standard $ 9 per hour Standard variable overhead rate $ 5 per labor hour
Standard fixed overhead rate $10 per labor hour The standard unit cost for direct materials is
a. $30.
b. $10.
c. $50.
d. $27.
A
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Answer the following statements true (T) or false (F)
Relevance and reliability are the primary characteristics that standard setters should be concerned with.
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Indicate whether the statement is true or false
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