Cooper Company has a direct materials standard of 0.33 gallons of input at a standard price of $126 per gas. During Core Comppurchased and used 2168 gallons at an actual price of $1.21, paying $15,610 to produce 1,067 units. What is the direct matelas query wee

Formula for Material Quantity Variance= (Actual Quantity - Standard Quantity) x Standard Price=…

Answered: Cooper Company has a direct materials…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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La Loma Company produces four solvents from the same process: Wan, Tu, Tri, Por. Joint production costs are as follows: Materials - P4, 000; Labor - P3, 0003; Overhead- P2, 000 Disposal cost Further per barrel at per barrel at processing price per split- off Sales price Final sales split- off costs barrel Barrels Wan 750 P10 P6.50 P2.00 P13.50 Tu 1, 000 8 4.00 2.50 10.00 Tri 4, 000 11 7.00 4.00 15.50 Por 2, 000 15 9.50 4.50 19.50 If La Loma sells the products after further processing, the following disposal costs will be incurred: C, P2.50; D, P1.00; E, P3.50; G, P6.00. (Round all answers to the nearest peso) Using a physical measurement method, what amount of joint processing cost is allocated to Product Por?
H1.
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Wehrs Corporation has received a request for a special order of 9,800 units of product K19 for $47.50 each. The normal selling price of this product is $52.60 each, but the units would need to be modified slightly for the customer. The normal unit product cost of product K19 is computed as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Unit product.cost $ 18.30 7.60 4.80 7.70 $ 38.40 Direct labor is a varlable cost. The special order would have no effect on the company's total fixed manufacturing overhead costs. The customer would like some modifications made to product K19 that would increase the variable costs by $7.20 per unit and that would require a one-time investment of $47,000 in special molds that would have no salvage value. This special order would have no effect on the company's other sales. The company has ample spare capacity for producing the special order. Required: Determine the effect on the company's total net…

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Cooper Company has a direct materials standard of 0.33 gallons of input at a standard price of $126 per gas. During Core Comp purchased and used 2168 gallons at an actual price of $1.21, paying $15,610 to produce 1,067 units. What is the direct matelas query wee