Problem 13: Jimmy Company manufactures a hand soap. The company employs both skilled and unskilled workers. To produce one 55-gallon drum of soap requires Materials A. and B as well as skilled labor and unskilled labor. The standard and actual material and labor information is presented below: Standard: Material A: 30.25 gallons @ P1.25 per gallon Material B: 24.75 gallons @ P2.00 per gallon Skilled Labor: 4 hours @ P12 per hour Unskilled Labor: 2 hours @ P 7 per hour Actual: Material A: 10,716 gallons purchased and used @ P1.50 per gallon Material B: 17,484 gallons purchased and used @ P1.90 per gallon Skilled labor hours: 1,950 @ P11.90 per hour Unskilled labor hours: 1,300 @ P7.15 per hour During the current month Jimmy Company manufactured 500 55-gallon drums.

Problem 13: Jimmy Company manufactures a hand soap. The company employs both skilled and unskilled workers. To produce one 55-gallon drum of soap requires Materials A. and B as well as skilled labor and unskilled labor. The standard and actual material and labor information is presented below: Standard: Material A: 30.25 gallons @ P1.25 per gallon Material B: 24.75 gallons @ P2.00 per gallon Skilled Labor: 4 hours @ P12 per hour Unskilled Labor: 2 hours @ P 7 per hour Actual: Material A: 10,716 gallons purchased and used @ P1.50 per gallon Material B: 17,484 gallons purchased and used @ P1.90 per gallon Skilled labor hours: 1,950 @ P11.90 per hour Unskilled labor hours: 1,300 @ P7.15 per hour During the current month Jimmy Company manufactured 500 55-gallon drums.

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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