Current Attempt in ProgressMaria Company has gathered the following information about its product.Direct materials: Each unit of product contains 3.4 pounds of materials. The average waste and spoilage per unit produced undernormal conditions is 0.6 pounds. Materials cost $2 per pound, but Maria always takes the 5% cash discount all of its suppliers offer.Freight costs average $0.45 per pound.Direct labor. Each unit requires 2.8 hours of labor. Setup, cleanup, and downtime average 0.1 hours per unit. The average hourly payrate of Maria's employees is $13.1. Payroll taxes and fringe benefits are an additional $3.0 per hour.Manufacturing overhead. Overhead is applied at a rate of $5.9 per direct labor hour.Compute Maria's total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.)Total standard cost per unit $

Standard cost is a cost which estimated to occurs under normal course of business.Actual cost is the…

Answered: Current Attempt in Progress Maria…

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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2..
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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Direct materials Direct labor Standard Quantity or Hours 4.6 pounds 0.2 hours Rate $ 2.50 per pound $18.00 per hour During the most recent month, the following activity was recorded: a. Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. b. The company produced only 3,000 units, using 14,750 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. 750 hours of direct labor time were recorded at a total labor cost of $14,925. Standard Price or Materials price variance Materials quantity variance Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Answer is complete but…
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Lean Mfg: Vintage Audio Inc
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A VACUUM MANAUFACTUER HAS PREPARED THE FOLLOWING HAS THE FOLLOWING COST DATA FOR MANUFACTURING ONE OF ITS ENGINE COMPONENTS BASED ON THE ANNUAL PRODUCTION OF 50,000 UNITS DIRECT MATERIALS $75,000 DIRECT LABOR $100,000 TOTAL $175,000 IN ADDITION, VARIABLE FACTORY OVERHEAD IS APPLIED AT $7.50 PER UNIT. FIXED FACTORY OVERHEAD IS APPLIED AT 150% OF DIRECT LABOUR COST PER UNIT. THE VACUUM SELLS FOR $150 EACH. A THIRD PARTY HAS OFFERED TO MAKE THE ENGINES FOR $60 PER UNIT. 75% OF THE FIXED FACTORY OVERHEAD, WHICH REPRESENTS EXECUTIVE SALARIES, RENT, DEPRECIATION, AND TAXES, CONTINUES REGARDLESS OF DECISION. sHOULD THE COMPANY MAKE OR BUY THE ENGINES?

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