Managerial Accounting

Sanford and Sons produces blue moons. Resin used to make the blue moons is purchased by the pound. Standards and actual cost data for Sanford and Sons standard cost system follow:

Standard Data Actual Data
Material 4.5 lbs. @ @2.00 per lb. Produced 9,500 units
Labor 0.08 hr. @ $15 per hr. Materials cost $2.10 per pound
Budgeted fixed overhead $12,480 Materials used 43,000 lbs.
Budgeted variable overhead $36,480 Labor worked 7,800 hrs. totaling $117,780
Budgeted production 9,600 units Actual overhead Fixed $12,100; Variable: $37,100

How much is the standard cost for a blue moon?

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