Answered: Quality Standard: Mean Weight per…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter13: Emerging Topics In Managerial Accounting

Section: Chapter Questions

Problem 28BEB: Quality Cost Report Loring Company had total sales of 2,400,000 for fiscal 20X1. The costs of...

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Standard amount of flour per loaf of bread 2.1 pounds Standard cost of flour per pound $.80/pound Standard Labor Hours per loaf of bread .100 Hours Standard Labor Rate/Hour $30.00 Actual flour used per loaf of bread 2.03 pounds Actual cost of flour $.825/pound Actual Labor Hours per loaf of bread .104 Hours Actual Labor Rate/Hour $29.45 Actual production completed 300,000 loaves Required: Calculate standard cost for June’s production Calculate actual cost for June’s production…
JIngredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below: a) debit of $3,680. b) credit of $3,680. c) credit of $4,140. d) debit of $4,140.
LCC Company produce cereal product. At the beginning of the year, LCC Company had the following standard cost shee per unit if almond chocolates (estimated to yield 4 kg per unit). SP Usage Standard Cost Direct Material: Dried Fruits $ 30.00 3 kg $ 90.00 Corn $ 20.00 2 kg $ 40.00 TOTAL 5 kg $ 130.00 Direct Labor: Assembly $ 25.00 0.80 hr $ 20.00 Packaging $ 20.00 0.20 hr $ 4.00 TOTAL 1 hr $ 24.00 Actual Results: Output 875 units Yield 3,500 kg Actual Mix Actual Price Direct Material: Dried Fruits 1,400 kg $ 28.00 Corn 2,600 kg $ 24.00 TOTAL 4,000 kg Direct Labor: Assembly 675 hours $ 24.50 Packaging 225 hours $ 21.00 TOTAL 900 hours If the variance is Unfavorable, the amount should be positive. Otherwise the Favorable variance should be negatove amount. Round the final answers to two decimal places. Compute for the following: 1. Material Price Variance? 2. Material Mix Variance? 3.…
Standard Direct Materials Cost per Unit Truly Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,950 bars) are as follows: Ingredient Quantity Price Cocoa 630 lbs. $0.40 per lb. Sugar 180 lbs. $0.60 per lb. Milk 150 gal. $1.50 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places.fill in the blank 1 of 1$ per bar
Standard Direct Materials Cost per Unit Truly Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as follows: Ingredient Quantity Price Cocoa 500 lbs. $1.04 per lb. Sugar 100 lbs. $0.60 per lb. Milk 200 gal. $0.85 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places.
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,730 bars) are as follows: Ingredient Quantity Price Cocoa 570 lbs. $0.30 per lb. Sugar 180 lbs. $0.60 per lb. Milk 150 gal. $1.60 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.
Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (4,475 bars) are as follows: Ingredient Quantity Price Cocoa 630 lbs. $0.30 per lb. Sugar 180 lbs. $0.60 per lb. Milk 150 gal. $1.60 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. $___ per bar
Standard amount of flour per loaf of bread 2.1 pounds Standard cost of flour per pound $.80/pound Standard Labor Hours per loaf of bread .100 Hours Standard Labor Rate/Hour $30.00 Actual flour used per loaf of bread 2.03 pounds Actual cost of flour $.825/pound Actual Labor Hours per loaf of bread .104 Hours Actual Labor Rate/Hour $29.45 Actual production completed 300,000 loaves Required: Calculate Material Usage Variance Calculate Labor Price Variance Calculate Labor Usage…
Future Corporation has collected the following data for one of its products: Direct materials standard (3 pounds per unit 50.44/lb.) 51.32 per finished good Actual direct materials purchased 30,000 pounds Actual Direct Materials Used ( AQU) 34,000 pounds Actual Price (AP) paid per pound $0.64 How much is the direct materials price variance? Question content area bottom Part 1 A. 56,000 favorable B. $6,000 unfavorable C. 56,800 unfavorable D. 56,800 favorable
The standard material costs of finished product PEP are as follows: 2 kg raw material A @ R10 per kg Actual information: Purchase of raw material A 2 000 kg @ R9.50 per kg Issue of raw material A 1 200 kg Units of product PEP manufactured 280 units Required Calculate the following in respect of material A (a) Purchase price variance (3) (b) Issue price variance (c) Quantity variance (d) Total variance.
The monthly consumption of wheat is 50,000 kgs forNabil Company. The per unit (kg) cost is OMR 0.550,the ordering cost is OMR 80 per order and thecarrying cost is 20% of the cost of inventory. Theeconomic order quantity is;a. 1321b. 29542c. 2954d. 13211
Nice Limited provides the following information. Tonnes Standard input 100 Standard loss 10% 10 Standard output 90 Standard cost per tonne of output Rs.2,000. Tonnes Actual input 2,000 Actual output 1,820 You are requested to compute yield variance.

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