Ewing Corporation's Controller Has Developed the Cost and Usage Data

question 17

Multiple Choice

Ewing Corporation's controller has developed the cost and usage data listed below in preparation of standard unit cost information for the coming year. $\begin{array}{lr} \text { Direct materials quantity standard } & 3 \text { pounds per product } \\\text { Direct labor time standard } & 5 \text { hours per product } \\\text { Direct materials price standard } & \$ 10 \text { per pound } \\\text { Direct labor rate standard } & \$ 9 \text { per hour } \\\text { Standard variable overhead rate } & \$ 5 \text { per labor hour } \\\text { Standard fixed overhead rate } & \$ 10 \text { per labor hour }\end{array}$
The total standard unit cost is

• A) $105.
• B) $150.
• C) $260.
• D) $34.

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Definitions:

Capital Contributions

Funds or other assets contributed to a corporation or partnership by its owners or partners to support the organization's operations or to increase its equity.

Total Capital Balance

The sum of a company's long-term debt, equity, and retained earnings.

Income Distribution

A statistical measure detailing the way in which total income is spread across the individuals or households within a specific economy.

Net Income

A company's overall earnings following the deduction of all costs, taxes, and expenses from its total revenue.