CH 9 Homework (Application)Sharon's Delights Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa andsugar. The following planning information has been made available:CocoaSugarStandard labor time.Planned productionStandard Amount Standard Amountper CaseDark Chocolateper CaseLight ChocolateStandard Priceper Pound8 lbs.6 lbs.$4.755 lbs.4 lbs.1.200.50 hr.0.60 hr.Dark Chocolate4,000 casesLight Chocolate7,500 casesStandard labor rate$15.50 per hr.$15.50 per hr.Sharon's Delights Chocolate Company does not expect there to be any beginning or ending inventories of cocoa orsugar. At the end of the budget year, Sharon's Delights Chocolate Company had the following actual results:Actual production (cases)Dark Chocolate4,500Light Chocolate8,000Actual Price per PoundActual Quantity Purchased and UsedCocoaSugar$4.901.2485,00053,000Actual Labor RateActual Labor Hours UsedDark chocolate$15.25 per hr.Light chocolate15.80 per hr.2,2004,400Required:1. Prepare the following variance analyses for both chocolates and the total, based on the actual results andproduction levels at the end of the budget year. Enter a favorable variance as a negative number using a minussign and an unfavorable variance as a positive number.a. Direct materials price variance, direct materials quantity variance, and total variance.b. Direct labor rate variance, direct labor time variance, and total variance.a.Direct materials price varianceDirect materials quantity varianceCheck My Work 4 more Check My Work uses remaining.Next>

Lets understand the basics.Variance analysis It helps to estimate deviations of actual behavior and…

Answered: Dark Chocolate Light Chocolate per…

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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Vol)4G+ 35% LTE1 L Fruit Tea's data show the following information: Aug. Sept. Oct. Nov. Dec. 25,000 27,500 28,000 27,000 $ 31 $ $ 31 Estimated sales (units) Sales price per unit Direct labor per unit Labor rate per hour 25,000 31 $ 31 $ 31 $ 1.75 $ 1.75 $ 1.50 $ 1.50 $ 21 $ $ 1.50 21 $ 24 $ 24 $ 24 New machinery will be added in October. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2.5 pounds per unit at a cost of $5 per pound. The ending inventory required for direct materials is 20% of the next month's needs. In August, the beginning inventory is 3,750 units of finished goods and 13,125 pounds of materials. Prepare a production budget, direct materials budget, and direct labor budget for the first quarter of the year. ||| O < 19:48 25-22-1.pdf ку
Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 12 lbs. 8 lbs. $7.25 Sugar 10 lbs. 14 lbs. 1.40 Standard labor time 0.50 hr. 0.60 hr. Dark Chocolate Light Chocolate Planned production 4,700 cases 11,000 cases Standard labor rate $15.50 per hr. $15.50 per hr. I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Dark Chocolate Light Chocolate Actual production (cases) 5,000 10,000 Actual Price per Pound Actual Pounds Purchased and Used Cocoa $7.33 140,300 Sugar 1.35 188,000 Actual Labor Rate Actual Labor Hours Used Dark chocolate $15.25 per hr. 2,360 Light chocolate 15.80 per hr. 6,120 this is all the information i have and i need help calulating the direct labor time variance
Unit VIII question 1
er 4 homework Book Print erences Mc Graw Hill ! Q 1 N Parkview Fish Tacos sells tacos for $5.50 each. The cost of each taco follows: Materials (food) Labor Variable overhead Fixed overhead ($7,200 per month, 4,500 tacos per month) Total costs per taco One of Parkview's regular customers asked the company to fill a special order of tacos at a selling price of $4.50 each for a youth basketball tournament at the local school. Parkview has capacity to fill it without affecting total fixed costs for the month. Parkview's general manager (and owner and cook) was concerned about selling the tacos below the cost of $4.45 and has asked for your advice. 13,532 Required: a. Prepare a schedule to show the impact on Parkview's profits of providing 350 tacos in addition to the regular production and sales of 4,500 tacos per month. b. Based solely on the data given, what is the lowest price per taco at which the special order can be filled without reducing Parkview's profits? 2 Complete this question…
Question 5-37
The Beach Umbrella is a take-out food store at a popular beach resort. Susan Miller, owner of the Beach Umbrella, is deciding how much refrigerator space to devote to four different drinks. Pertinent data on these four drinks are as follows: (Click to view the data.) Miller has a maximum front shelf space of 12 feet to devote to the four drinks. She wants a minimum of 1 foot and a maximum of 6 feet of front shelf space for each drink. Read the requirements. Requirement 1. Calculate the contribution margin per case of each type of drink. Selling price per case Variable cost per case Contribution margin per case Requirements $ Cola Lemonade 18.25 $ 14.40 20.75 $ 15.60 Punch 27.70 $ 20.10 Natural Orange Juice 39.25 30.40 1. Calculate the contribution margin per case of each type of drink. 2. A coworker of Miller's recommends that she maximize the shelf space devoted to those drinks with the highest contribution margin per case. Do you agree with this recommendation? Explain briefly. 3.…
Question 1 1-pts You own Souvenir Gallore, a souvenir shop on Lane Avenue. You would like to do an ABC analysis based on annual dollar usage. You sell the following list of retail items in your store. Annual demand Items Unit cost (units) Greeting cards 10,000 $1.50 Key chains 975 $15.50 Candleholders 700 $35.00 Caps 775 $19.50 Calendars 350 $32.00 Watches 380 $25.00 The annual dollar usage of watches is $ and the ABC class that watches belong to is G Search or type URL 23 2$ & 3 7 8. E R T Y U < CO
EC 3 Question 3 Hometown Bakery sells three types of doughnuts: glazed, jelly, and cake. The following table shows the sales price and variable costs for each type. The bakery incurs $331,000 a year in fixed expenses. Assume that it sells 3 glazed doughnuts for every 1 jelly doughnut and every 1 cake doughnut. DOUGHNUT TYPE SALES PRICE VARIABLE COST Glazed $0.40 $0.29 Jelly $0.52 $0.49 Cake $0.47 $0.29 (a) How many doughnuts of each type will be sold at the breakeven point? (Round intermediate calculations and final answers for the number of doughnuts to the nearest whole, e.g. 5,275.) Jelly doughnuts Cake doughnuts Glazed doughnuts b. What amount of revenue would need to be generated by each type of doughnut for the company to earn $74,100 in operating income?
Question 10 of 13 > Using a markup of 35% of cost, a store priced a book at $8.91. (a) What was the cost of the book? (b) What is the markup as a percent of selling price? (a) The cost of the book was S (Round to the nearest cent as needed. (b) The markup as a percent of selling price is % (Round to two decimal places as needed) LF & TH pc
3.3 The following is Prudence's Grocery bill Welcome to FOOD STOP Port Elizabeth TEL NO (041) 555 4531 VAT NO 4280223776 DUMPY BROWVN BREAD CHOC CAKE BEAUTY SOAP R8.99 R17.35 RS.59 R19.99 APPLE 1.5KG MARGARINE BRICK 250G TUNA IN BRINE JOD TABLE SALT 500G R6.35 RI0,99 R3.26 COLA 21 R13.99 SUPER MAIZE MEAL SKG R21.66 CARRIER BAG CARRIER BAG RO.45 RO.45 BALANCE DUE R109.07 SUB TOTAL TOTAL TAX TOTAL RI0189 R7.18 R109.07 GASH CHANGE R10.00 RO.95
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Shannon's Brewery in Keller, Texas is expanding distribution to a number of cities along the l-35 corridor south from Dallas to the Gulf Coast. Shannon's typically distributes through large distributors such as Ben E. Keith located in Denton, Texas. However, Shannon Carter, CEO of Shannon's Brewery, wants to employ a series of missionary sales persons to service restaurants, bars, supermarkets, and liquor stores. Their job will be to promote Shannon's craft beers to these retailers and encourage them to place orders with Shannon's normal distributor in that area. Based on research, Shannon Carter has identified an initial 743 retailers that are potential adopters of his beers. He estimates that it will take ten visits per year to acquire and then service each account. Each sales call is expected to take 26 minutes. Assume a 40-hour work week for sales reps and that 50% of each rep's time will be consumed by non-selling tasks and travel time. How many missionary sales reps will

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Dark Chocolate Light Chocolate per Pound 8 lbs. 6 lbs. 5 lbs. 4 lbs. $4.75 1.20 0.50 hr. rk Chocolate ▪00 cases 0.60 hr. Light Chocolate 7.500 cases