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...

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