(Answered) Question - dauterive co manufactures wooden pen and pencil

Accounting

Question - Dauterive Co. manufactures wooden pen and pencil holders. The following materials and labor standards have been set for one holder.

5 ounces of wood at $0.50 per ounce $2.50

4 minutes of labor times at $9.00 per hour 0.60

During July, the company incurred the following costs to manufacture 46,800 holders.

14,250 pounds of wood at $8.30 per pound $118,275

3,840 hours of labor time at $9.25 per hour 35,520

Required: What is the standard quantity of material allowed for the actual production?

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