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
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42abd8f7-1ca4-4240-9097-6b922a318633%2F57f12452-81c5-4796-a802-592fe8d56262%2F1hraj5p.jpeg&w=3840&q=75)
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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