A company uses a standard costing system. The production budget for year 1 was based on 200,000 units of output. Each unit requires two standard hours of manufacturing labor for completion. Total overhead was budgeted at $900,000 for the year, and the budgeted fixed overhead rate was $1.50 per direct manufacturing labor hour. Both variable and fixed overheads are allocated to the product based on direct manufacturing labor hours. The actual data for year 1 are as follows:
Actual production: 198,000 units
Actudal direct labor hours 440,000 direct labor hours
Actual variable manufacturing overhead $352,000
Actual fixed manufacturing overhead $575,000
The standard hours allowed for actual production for the year total:
A.
247,500
B.
396,000
C.
400,000
D.
495,000
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