The following standard costs were developed for one of Commodore Company's products: 
The following information is available regarding the company's operations for the period: 
Budgeted fixed overhead for the period is £280,000, and expected capacity for the period is 28,000 direct labour hours.
Required:
a.
Calculate the standard fixed overhead rate.
b.
Complete the standard cost card for the product.
Definitions:
Single Overhead Rate
A method in cost accounting where a single rate is used to allocate each unit of overhead to products or cost objects.
Direct Labor Hours
The total hours worked by employees directly involved in the production process or operation of a service.
Materials Input
The raw materials, components, and supplies used in the production or manufacturing of goods.
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