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346 Chapter 10 4,r Z.0, n t. Require III. Exercises 1. Wh Exercise 1 (Setting Standards; Preparing a Standard Cost Card) blo 2. Br peral Cas mamd- Srandard Cat Medi Laboratories, Inc., a pharmaceutical company, makes an anticoagulant drug. The main ingredient in the drug is a raw material called Beta ML12. Information concerning the purchase and use of Beta ML12 follows: e1806D760 Exerci va Purchase of Beta ML12: The raw material Beta ML12 is purchased in 2- kilogram containers at a cost of P3,000 per kilogram. A discount of 2% is offered by the supplier for payment within 10 days and Medi Laboratories takes all discounts. Shipping costs, which Medi Laboratories must pay, amount to P1,000 for an average shipment of ten 2-kilogram containers. Halliw The c have b Sta 2 Duri Use of Beta ML12: The bill of materials calls for 6 grams of Beta ML12 per capsule of the anticoagulant drug. (A kilogram equals 1,000 grams.) unsuitable before being used to make the anticoagulant drug. In addition, after the addition of Beta ML12, about 1 out of every 26 capsules is rejected at final inspection, due to defects of one sort or another in the capsule. discs About 4% of all Beta ML 12 purchased is rejected as Requ 1. 2. 3. Required: 1. Compute the standard purchase price for one gram of Beta ML12 2. Compute the standard quantity of Beta ML12 (in grams) per capsule that passes final inspection. (Carry computations to two decimal places.) 3. Using the data from (1) and (2) above, prepare a standard cost card showing the standard cost of Beta ML12 per capsule of the anticoagulant drug. Exe The inv rem Set B

346 Chapter 10 4,r Z.0, n t. Require III. Exercises 1. Wh Exercise 1 (Setting Standards; Preparing a Standard Cost Card) blo 2. Br peral Cas mamd- Srandard Cat Medi Laboratories, Inc., a pharmaceutical company, makes an anticoagulant drug. The main ingredient in the drug is a raw material called Beta ML12. Information concerning the purchase and use of Beta ML12 follows: e1806D760 Exerci va Purchase of Beta ML12: The raw material Beta ML12 is purchased in 2- kilogram containers at a cost of P3,000 per kilogram. A discount of 2% is offered by the supplier for payment within 10 days and Medi Laboratories takes all discounts. Shipping costs, which Medi Laboratories must pay, amount to P1,000 for an average shipment of ten 2-kilogram containers. Halliw The c have b Sta 2 Duri Use of Beta ML12: The bill of materials calls for 6 grams of Beta ML12 per capsule of the anticoagulant drug. (A kilogram equals 1,000 grams.) unsuitable before being used to make the anticoagulant drug. In addition, after the addition of Beta ML12, about 1 out of every 26 capsules is rejected at final inspection, due to defects of one sort or another in the capsule. discs About 4% of all Beta ML 12 purchased is rejected as Requ 1. 2. 3. Required: 1. Compute the standard purchase price for one gram of Beta ML12 2. Compute the standard quantity of Beta ML12 (in grams) per capsule that passes final inspection. (Carry computations to two decimal places.) 3. Using the data from (1) and (2) above, prepare a standard cost card showing the standard cost of Beta ML12 per capsule of the anticoagulant drug. Exe The inv rem Set B

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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346 Chapter 10 4,r Z.0, n t. Require III. Exercises 1. Wh Exercise 1 (Setting Standards; Preparing a Standard Cost Card) blo 2. Br peral Cas mamd- Srandard Cat Medi Laboratories, Inc., a pharmaceutical company, makes an anticoagulant drug. The main ingredient in the drug is a raw material called Beta ML12. Information concerning the purchase and use of Beta ML12 follows: e1806D760 Exerci va Purchase of Beta ML12: The raw material Beta ML12 is purchased in 2- kilogram containers at a cost of P3,000 per kilogram. A discount of 2% is offered by the supplier for payment within 10 days and Medi Laboratories takes all discounts. Shipping costs, which Medi Laboratories must pay, amount to P1,000 for an average shipment of ten 2-kilogram containers. Halliw The c have b Sta 2 Duri Use of Beta ML12: The bill of materials calls for 6 grams of Beta ML12 per capsule of the anticoagulant drug. (A kilogram equals 1,000 grams.) unsuitable before being used to make the anticoagulant drug. In addition, after the addition of Beta ML12, about 1 out of every 26 capsules is rejected at final inspection, due to defects of one sort or another in the capsule. discs About 4% of all Beta ML 12 purchased is rejected as Requ 1. 2. 3. Required: 1. Compute the standard purchase price for one gram of Beta ML12 2. Compute the standard quantity of Beta ML12 (in grams) per capsule that passes final inspection. (Carry computations to two decimal places.) 3. Using the data from (1) and (2) above, prepare a standard cost card showing the standard cost of Beta ML12 per capsule of the anticoagulant drug. Exe The inv rem Set B
Transcribed Image Text:346 Chapter 10 4,r Z.0, n t. Require III. Exercises 1. Wh Exercise 1 (Setting Standards; Preparing a Standard Cost Card) blo 2. Br peral Cas mamd- Srandard Cat Medi Laboratories, Inc., a pharmaceutical company, makes an anticoagulant drug. The main ingredient in the drug is a raw material called Beta ML12. Information concerning the purchase and use of Beta ML12 follows: e1806D760 Exerci va Purchase of Beta ML12: The raw material Beta ML12 is purchased in 2- kilogram containers at a cost of P3,000 per kilogram. A discount of 2% is offered by the supplier for payment within 10 days and Medi Laboratories takes all discounts. Shipping costs, which Medi Laboratories must pay, amount to P1,000 for an average shipment of ten 2-kilogram containers. Halliw The c have b Sta 2 Duri Use of Beta ML12: The bill of materials calls for 6 grams of Beta ML12 per capsule of the anticoagulant drug. (A kilogram equals 1,000 grams.) unsuitable before being used to make the anticoagulant drug. In addition, after the addition of Beta ML12, about 1 out of every 26 capsules is rejected at final inspection, due to defects of one sort or another in the capsule. discs About 4% of all Beta ML 12 purchased is rejected as Requ 1. 2. 3. Required: 1. Compute the standard purchase price for one gram of Beta ML12 2. Compute the standard quantity of Beta ML12 (in grams) per capsule that passes final inspection. (Carry computations to two decimal places.) 3. Using the data from (1) and (2) above, prepare a standard cost card showing the standard cost of Beta ML12 per capsule of the anticoagulant drug. Exe The inv rem Set B
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