Accounting (Text Only)
26th Edition
ISBN: 9781285743615
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 23, Problem 23.1EX
To determine
In the accounting records, the term standard cost refers to the practice of replacement of an expected cost for an actual cost. Then the difference between the expected costs, and actual costs showing the variance are also recorded periodically. A standard costs is also known as target cost or predetermined cost.
The standard direct materials cost per bar of chocolate.
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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 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
Billingsly 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 (7,100 bars) are as follows:
Ingredient Quantity PriceCocoa 600 lbs. $1.25 per lb.Sugar 120 lbs. $0.50 per lb.Milk 180 gal. $2.60 per gal.
Determine the standard direct materials cost per bar of chocolate. Round to two decimal places.
Chapter 23 Solutions
Accounting (Text Only)
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