How to do this. Please explain. Thank you. 1. Sherwin Chemicals produces commercial strength cleansing supplies. Two of its main products arewindow cleanser that uses ammonia, and floor cleanser that uses bleach. Information for the mostrecent period follows:Product NamesWindow Cleaner (ammonia)Floor Cleaner (bleach)Direct materials informationStandard ounces per unit16 oz.24 oz.Standard price (SP) per ounce$0.75?Actual quantity (AQ) used per unit20 oz.22 oz.Actual price (AP) paid for material$1.00$0.90Actual quantity purchased (AQP) and used1,500 oz.2,800 oz..Price variance?$300 UQuantity variance$1,500 U?Flexible budget variance$678 FNumber of units produced500600Required:What is the Standard Price (SP) for bleach? Show the calculation!

Price variance = ( Actual unit cost - Standard unit cost ) x Actual quantity purchased

Answered: How to do this. Please explain. Thank…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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The following is data obtained from cheese cake production activities by PT Cheese Higen for January 2018 During January 2018, the number of cheese cakes produced was 20.000 units Requested: 1. What is the total production cost and production cost of cheese cake per unit? 2. What is the total prime cost and prime cost of cheese cake per unit? 3. What is the total conversion cost and the cheese cake conversion cost per unit?
Use the following standard cost card for 1 gallon of ice cream to answer the questions. STANDARD COST CARD Product: Gallon of Ice Cream Manufactering cost info Standard Quantity x standard cost per unitx x cost summary direct materials cream sugar 5 quarts 16 ounces x $1.15 per quart $0.08 per ounce x $5.75 $1.28 direct labor 3 min x $36.00 per hour x $1.80 total direct costs x x $8.83 Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All material used was bought during the current period. Required: Compute the material and labor variances. Comment on the results and possible causes of the variances.
STI Industries manufactures two types of industrial staplers, small and regular. During October,STI purchased direct materials to produce its staplers. The quantity purchased equaled thequantity used. Related information for direct materials is as follows: Small RegularDirect materials Stapler StaplerStandard ounces per unit 12 cStandard price per ounce $2.00 $2.50Actual quantity purchased (used) per unit a 16.75Actual price per ounce $2.50 $2.80Materials price variance $1,000 U $2,010 U Materials usage variance $800 F…
ASM Company makes a cologne called Allure. The standard cost for one bottle of Allure is as follows: Standard Manufacturing Cost Elements Quantity x Price = Cost Direct materials 6 oz. x P0.90 = P 5.40 Direct labor 0.5 hrs. x P12.00 = P 6.00 Manufacturing overhead 0.5 hrs. x P 4.80 = P 2.40 P13.80 During the month, the following transactions occurred in manufacturing 10,000 bottles of Allure: 1. 58,000 ounces of materials were purchased at P1.00 per ounce. 2. All the materials purchased were used to produce the 10,000 bottles of Allure. 3. 4,900 direct labor hours were worked at a total labor cost of P56,350. 4. Variable manufacturing overhead incurred was P15,000 and fixed overhead incurred was P10,400. The manufacturing overhead rate of P4.80 is based on a normal capacity of 5,200 direct labor hours. The total budget at this capacity is P10,400 fixed and P14,560 variable. Instructions: (a) Compute the total variance and the variances for direct materials and direct labor…
What is the actual cost per yard of fabric purchased on this accounting question?
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ShipCo. produces storage crates that require 1.2 meters of material at $0.85 per meter and 0.1 direct labor hours at $15.00 per hour. Overhead is assigned at the rate of $9 per direct labor hour. What is the total standard cost for one unit of product that would appear on a standard cost card? a. $25.02. b. $11.52. c. $2.40. d. $2.52. e. $3.42.
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Delicious Desserts makes cupcakes and cookies. The company gathered the following information for the current year regarding its use of flour and butter (four is a direct material for cupcakes and butter is a direct material for cookies) Standard quantity per batch Standard Price (SP) per pound Actual quantity purchased (AQP) and used per batch (pounds) Actual Price (AP) paid Price variance Flour (Direct Materials) Cupcakes 4 lbs $0.301b OA 14 D OB. 0704 OC. 0.4 OD. 264 $1.00 ? $525 U Butter (Direct Matenals) Cookies 20 ? 4 bs $1.96/b $1,300 U ? Quanety vanance Flexible budget variance 7 Number of batches produced 290 The actual direct material quantity used per batch for cupcakes may be closest to $3,000 U 600
A. Compute the equivalent units for materials using the weighted-average method. B. Compute the equivalent units for conversion costs using the weighted-average method.
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A company purchases one of its raw materials from a particular supplier whose delivery limes can vary Details of lead times and production are as follows: Maximum lead time Average lead time 12 days 8 days 4 days 600 kg per day 450 kg per day Minimum usage 300 kg per day Minimum lead time Maximum usage Average usage What should be the reorder level for this raw material? A [ ] 1 200 kg B 3 600 kg C 5 400 kg D7 200 kg

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