Compute the standard cost of the ingredients for one gallon of the nutrition drink. (Round intermediate calculations and final answer to 2 decimal places, eg.52.75)
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Unit VIII question 1
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- Mangia Pizza Company makes frozen pizzas that are sold through grocery stores. Mangia developed the following standard mix for spreading on premade pizza shells to produce 16 giant-size sausage pizzas. Mangia put a batch of 2,000 pounds of direct materials (enough for 800 frozen sausage pizzas) into process. Of the total, 700 pounds were tomato sauce, 840 pounds were cheese, and the remaining 460 pounds were sausage. The actual yield was 780 pizzas. Required: 1. Calculate the standard mix (SM) in pounds for tomato sauce, for cheese, and for sausage. 2. Calculate the mix variance. 3. Calculate the actual proportion used of tomato sauce, cheese, and sausage. Use these results to explain the direction (favorable or unfavorable) of the mix variance. 4. What if of the total 2,000 pounds of ingredients put into process, 700 pounds were tomato sauce, 700 pounds were cheese, and 600 pounds were sausage? How would that affect the mix variance?Gatorade manufactures and sells a nutrition drink for children. It wants to develop a standard cost per gallon. The following are required for production of a 100 gallon batch: 15 minutes 1,960 ounces of lime Cool-Drink at $.12 per ounce 40 pounds of sugar at $.60 per pound 63 kiwi fruit at $.50 each 100 protein tablets at $.90 each 4,000 ounces of water at $.003 per ounce Gatorade estimates that 2% of the lime Kool-Drink is wasted, 20% of the sugar is lost, and 10% of the kiwis cannot be used. Instructions Compute the standard cost of the ingredients for one gallon of the nutrition drink. Please write in wordM & Z Creameries, Corp. process milk and sugar to make vanilla ice cream. They sell their ice cream in large one-gallon containers to schools, hospitals, nursing homes, and restaurants. Each batch produces 1,700 gallons of ice cream at a cost of $840 per batch. M & Z Creameries, Corp. sells the one-gallon containers for $23.00 each and spends $0.35 for each plastic container. M & Z Creameries, Corp. has started to determine the feasibility of adding chocolate and strawberries and sell pint-size portions at local supermarkets.Further processing of each batch of ice cream could produce 24,400 pint-sized portions. A recent market study determined a demand existed for this type of product. M & Z Creameries, Corp. could sell each pint-sized portion for $2.70. Additional packaging would cost $0.30 per pint, and the additional materials would cost $0.25 per pint. There would be no change in fixed costs.Should they continue to sell only one-gallon size containers of vanilla ice…
- Carol’s Cupcakes sells cupcakes and other desserts through its retail store. The company has always made all of its ingredients from scratch, but has recently been approached by a supplier that specializes in icing. Carol believes that the supplier’s icing is of equal quality to her own, and believes their offer of $3.00 per liter may enable her to save money. Carol is evaluating her own cost of producing icing: Per Liter 5,000 liters per year Direct materials $1.00 $5,000 Direct labour 0.50 2,500 Variable manufacturing overhead 0.25 1,250 Fixed manufacturing overhead – traceable* 1.00 5,000 Fixed manufacturing overhead - allocated 1.75 8,750 Total $4.50 $22,500 *40% relates to cleaning and maintenance of the icing equipment and 60% relates to depreciation of icing equipment (with no resale value) Examining the report, Carol says, “Their icing is just as good, and it would save me $1.50 per…Dairyplus processes organic milk into plain yogurt. Dairyplus sells plain yogurt to hospitals, nursing homes, and restaurants in bulk, one-gallon containers. Each batch, processed at a cost of $830, yields 300 gallons of plain yogurt. Dairyplus sells the one-gallon tubs for $8 each, and spends $0.14 for each plastic tub. Dairyplus has recently begun to reconsider its strategy. Dairyplus wonders if it would be more profitable to sell individual-size portions of fruited organic yogurt at local food stores. Dairyplus could further process each batch of plain yogurt into 6,400 individual portions (3/4 cup each) of fruited yogurt. A recent market analysis indicates that demand for the product exists. Dairyplus would sell each individual portion for $0.58. Packaging would cost $0.05 per portion, and fruit would cost $0.09 per portion. Fixed costs would not change. Should Dairyplus continue to sell only the gallon-size plain yogurt (sell as is) or convert the plain…Gooby Gummies makes taffy candy, which it sells at local supermarkets. The fixed monthly cost to produce the candy is $4,000. The main ingredient for the candy, glucose syrup costs $0.21 per pound. Gooby Gummies sells the taffy for $0.75 per pound to supermarkets. The management of Gooby Gummies is thinking of raising the price of the taffy candy to $0.95 per pound. Currently, the company produces and sells 9,000 pounds of taffy candy a month. The management realizes that if they raise the price, the sales will go down to 5,700 pounds per month. By how much will the company's profit per year be affected if Gooby Gummies' management decide to raise the price? Should the company raise its price? Explain your answer.
- Gooby Gummies makes taffy candy, which it sells at local supermarkets. The fixed monthly cost to produce the candy is $4,000. The main ingredient for the candy, glucose syrup costs $0.21 per pound. Gooby Gummies sells the taffy for $0.75 per pound to supermarkets.The management of Gooby Gummies is thinking of raising the price of the taffy candy to $0.95 per pound. Currently, the company produces and sells 9,000 pounds of taffy candy a month. The management realizes that if they raise the price, the sales will go down to 5,700 pounds per month. By how much will the company's profit per year be affected if Gooby Gummies' management decide to raise the price? Should the company raise its price? Explain your answer.Healthy Hearth specializes in lunches for health-conscious people. The company produces a small selection of lunch offerings each day. The menu selections may vary from day to day, but Healthy Hearth charges the same price per menu selection because it adjusts the portion sizes according to the cost of producing the selection. Healthy Hearth currently sells 5,000 meals per month. Variable costs are $3 per meal, and fixed costs total $5,000 per month. A government agency recently proposed that Healthy Hearth provide 1,000 meals next month for senior citizens at $3.50 per meal. Volunteers will deliver the meals to the senior citizens at no charge. Required (a) Suppose Healthy Hearth has sufficient idle capacity to accommodate the government order for next month. What will be the impact on Healthy Hearth’s operating income if it accepts this order? (b) Suppose that Healthy Hearth would have to give up regular sales of 500 meals, at a price of $4.50 each, to accommodate the government…The Food Max grocery store sells three brands of milk in half-gallon cartonsits own brand, a local dairy brand, and a national brand. The profit fromits own brand is $0.97 per carton, the profit from the local dairy brand is $0.83 per carton, and the profit from the national brand is $0.69 per carton.The total refrigerated shelf space allotted to half-gallon cartons of milk is 36 square feet per week. A half-gallon carton takes up 16 square inchesof shelf space. The store manager knows that each week Food Max always sells more of the national brand than of the local dairy brand and itsown brand combined and at least three times as much of the national brand as its own brand. In addition, the local dairy can supply only 10 dozencartons per week. The store manager wants to know how many half-gallon cartons of each brand to stock each week in order to maximize profit.If Food Max could increase its shelf space for half-gallon cartons of milk, how much would profit increase per carton?
- Sheridan Company wants to produce and sell a new flavored water. In order to penetrate the market, the product will have to sell at $2 per 12 oz. bottle. The following data has been collected: Annual sales 50000 bottles Projected selling and administrative costs $8500 Desired profit $62000 The target cost per bottle is $0.59. $0.24. $0.17. $0.76.Organicplus processes organic milk into plain yogurt. Organicplus sells plain yogurt to hospitals, nursing homes, and restaurants in bulk, one-gallon containers. Each batch, processed at a cost of $870, yields 645 gallons of plain yogurt. The company sells the one-gallon tubs for $6.00 each and spends $0.12 for each plastic tub. Organicplus has recently begun to reconsider its strategy. Management wonders if it would be more profitable to sell individual-sized portions of fruited organic yogurt at local food stores. Organicplus could further process each batch of plain yogurt into 13,760 individual portions (3/4 cup each) of fruited yogurt. A recent market analysis indicates that demand for the product exists. Organicplus would sell each individual portion for $0.52. Packaging would cost $0.06 per portion, and fruit would cost $0.10 per portion. Fixed costs would not change. Should Organicplus continue to sell only the gallon-sized plain yogurt (sell as is) or convert the…Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required for production of a 50-gallon batch. 3,800 ounces of grape concentrate at $0.07 per ounce 54 pounds of granulated sugar at $0.45 per pound 60 lemons at $0.70 each 150 yeast tablets at $0.28 each 200 nutrient tablets at $0.17 each 1,900 ounces of water at $0.005 per ounce Hank estimates that 5% of the grape concentrate is wasted, 10% of the sugar is lost, and 25% of the lemons cannot be used.Compute the standard cost of the ingredients for one gallon of wine. Standard Cost Per Gallon $