CIRCLES Co. produced 10, 000 units of product CC. Each unit of product CC needs 3kgs of UU materials at standard cost of P5 per unit. Actual amount of materials used for the said production amounted to 33, 000 kilos with cost of P161,700. Compute the productivity ratio of direct materials
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CIRCLES Co. produced 10, 000 units of product CC. Each unit of product CC needs 3kgs of UU materials at
Compute the productivity ratio of direct materials
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- Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 6.50 Direct labor $ 4.00 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 3.50 Fixed administrative expense $ 2.20 Sales commissions $ 1.20 Variable administrative expense $ 0.45 9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production?2. During the month, 1,200 units of Product LTK were produced. Actual direct labor hour required was 600 direct labor hours at an actual cost of P6,060. According to the standard cost card for the product, 0.6 of labor hour should be required for each unit of the product produced. Standard cost is P10 per labor hour. The standards were based on production level of 1,100 units. Compute the following (show your solution): a. Budgeted labor hours b. Budgeted labor cost c. Actual labor rate d. Standard labor hours e. Standard labor cost f. Total labor cost variance g. Rate variance h. Efficiency varianceThe following standard data are available for ABC Corp to produce one unit of product X: · Direct materials: 3 yards at 5 per yard · Direct labor: 2 hours at 10 per hour · Budgeted Overhead: 700,000 (includes Budgeted VOH of 500,000) at normal capacity of 10,000 DL hours. The company produced 1,500 units and ending Finished Goods inventory is 100 units. What is the standard cost of goods sold?
- CIRCLES Co. Produced 10, 000 units of product CC. Each unit of product CC needs 3kgs of UU materials at standard cost of P5 per unit Actual amount of materials used for the said production amounted to 33, 000 kilos with cost of P161, 700. Compute the productivity ratio of direct materials.Company XYZ is currently producing and selling 100 units. At this level, the total direct materials cost is $500, the total direct labor cost is $1,800 and the total manufacturing overhead cost is $1,260, which includes $800 fixed manufacturing overhead cost. The company's total selling and administrative expenses are $2,800, which include $1,500 fixed selling and administrative costs. Assume that the company wishes to increase the number of units produced and sold to 102 units, what would be the incremental cost? (rounded to nearest ($) value) O a. 71 O b. 81 О с. None of the given answers O d. 41 О е. 55 AGE NEXT PAGE %3D ere to searchRazi Company is a manufacturer of the leather belt based in Kelang, Selangor. The company estimated a total of 400 units of production for the most recent period. The standard costs per unit are given below: Standard cost per unit (RM) Leather Belt Direct material (2m at RM1.50 per meter) 3.00 Direct labour (1.5 hours at RM6 per hour) Variable production overhead (1.5 hours at RM3.40) 9.00 5.10 17.10 The budgeted and actual units produced for this period were 400 units. The following is the actual costs incurred per unit. Leather Belt Actual cost per unit (RM) Direct material (2.1m at RM1.60 per meter) Direct labour (1.4 hours at RM6.50 per hour) Variable production overhead (1.4hours at RM3.10) 3.36 9.10 4.34 16.80 Required: From the foregoing information, compute the following variances and indicate whether they are favorable (F) or unfavorable (U). State why each of the variances occurred. Material price variance, Material usage variance, Direct labour rate variance, Direct labour…
- Bramble's standard quantities for 1 unit of product include 3 pounds of materials and 1.0 labor hours. The standard rates are $3 per pound and $5 per hour. The standard overhead rate is $10 per direct labor hour. The total standard cost per unit of Bramble's product is O $24.00. O $18.00. O $15.00. O $14.00.Mahaley, Incorporated, manufactures and sells two products: Product Q9 and Product FO. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Product 09 Product Fe Total direct labor-hours Product Q9 Product Fe The direct labor rate is $22.50 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per Unit $ 175.60 $ 147.40 Activity Cost Pools Labor-related Expected Production 870 870 Machine setups Order size The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Overhead Cost Direct Labor- Hours Per Unit 8.7 6.7 Activity Measures DLHS setups MHS Total Direct Labor- Hours 7,569 5,829 13,398 $ 386,680 47,330 288, 200 $ 722,210 Expected Activity Product Q9 Product Fe 7,569 5,829 650 550 3,800 3,600 Total 13,398 1,200 7,400 The unit product cost…Cane Company manufactures two products called Alpha and Beta that sell for $190 and $155, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 122,000 units of each product. Its average cost per unit for each product at this level of activity is given below: Alpha Beta Direct materials $ 40 $ 24 Direct labor 34 28 Variable manufacturing overhead 21 19 Traceable fixed manufacturing overhead 29 32 Variable selling expenses 26 22 Common fixed expenses 29 24 Total cost per unit $ 179 $ 149 The company’s traceable fixed manufacturing overhead is avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars. 15. Assume Cane’s customers would buy a maximum of 94,000 units of Alpha and 74,000 units of Beta. Also assume the company’s raw material available for production is limited to 228,000 pounds. If Cane uses its 228,000…
- At the beginning of the year, Craig Company had the following standard cost sheet for one of its plastic products: Direct materials (5 lbs. @ $4.00) $20.00 Direct labor (2 hrs. @ $15.00) 30.00 Standard prime cost per unit $50.00 The actual results for the year are as follows: Units produced: 440,000. Materials purchased: 3,080,000 pounds @ $5.60. Materials used: 2,640,000 pounds. Direct labor: 968,000 hours @ $14.16. Required: 1. Compute price and usage variances for materials. Enter amounts as positive numbers and select Favorable or Unfavorable. Material price variance $fill in the blank 1 Material usage variance $fill in the blank 3 2. Compute the labor rate and labor efficiency variances. Enter amounts as positive numbers and select Favorable or Unfavorable. Labor rate variance $fill in the blank 5 Labor efficiency variance $fill in the blank 7CostingTo manufacture 500,000 TBS, the direct material cost per item is AED 120 and material scrap is estimated to be 3.5% of the material costs. The direct labour costs total AED 250,000 and the labour scrap rate is 3% of direct labour cost. The variable overheads are 75 - 80% of direct labour costs and the fixed overloads are 30 - 40% of the variable costs. Packaging, tooling and freight costs are 7.5% of manufacture costs. The company requires a profit of 45% to be successful. Calculate the selling price for one unit of TBS.Company XYZ is currently producing and selling 100 units. At this level, the total direct materials cost is $500, the total direct labor cost is $1,200 and the total manufacturing overhead cost is $1,230, which includes $800 fixed manufacturing overhead cost. The ny^ prime s total selling and administrative expenses are $2,650, which include $1,500 fixed selling and administrative costs. Assume that the company wishes to increase the number of units produced and sold to 102 units, what would be the incremental cost? (rounded to nearest ($) value) a 66 b43 None of the given answers d. 33 e 59
