Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (3,740 bars) are as follows: Ingredient Quantity Price Сосоа 570 Ibs. $0.40 per Ib. Sugar 180 Ibs. $0.60 per Ib. Milk 150 gal. $1.50 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. per bar

Q: What units (whole vs equivalent) are complete with respect to materials or conversion and what units…

A: SOLUTION-  THE ACTIVITY OF PROCESSING DEPARTMENT IN TERMS OF FULLY COMPLETED UNITS IS KNOWN AS…

Q: Weighted-average unit cost

A: Weighted average unit cost is the per unit cost which is calculated dividing the total value of…

Q: Conversion cost consist of A) direct materials and direct labour B) direct labour and manufacturing…

A: There are two types of costs - 1. Prime Cost 2. Conversion Cost This costs are required to prepare…

Q: Describe fixed manufacturing overhead under absorption costing.

A: Absorption costing: Under this method, manufacturing cost such as direct material and labor is…

Q: Under a standard cost system, when recording the use of direct materials in the production process,…

A: Journal Entry :— It is an act of recording transactions in books of account when transaction…

Q: Define equivalent units of production.

A: Definition:   Process costing: It is a method of cost accounting, which is used where the production…

Q: T, F. Prime cost consists of Direct Materials and Factory Overhead.

A: Prime cost is a combination of direct attributes i.e primarily incurred for the product.

Q: By reference to the above data, explain the concept of equivalent units in process costing.

A: In process costing, some units may have fully finished but other units may still be under…

Q: Indirect materials and indirect labour are classified as: O a. manufacturing overhead and product…

A: Costs that are not traced to the product directly are known as indirect costs. These costs are…

Q: Required: a. Calculate the cost per equivalent unit for direct materials and conversion costs. b.…

A:

Q: The standards for direct materials are made up of which of the following components? a.variance…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: When computing the cost per equivalent unit the weighted-average method of process costing, the cost…

A: Weighted Average Method :— Under this method, equivalent units is calculated by adding equivalent…

Q: Change in direct materials cost per equivalent unit

A: The cost per equivalent unit for the material is based on the equivalent units for material and the…

Q: manufacturing overhead handled in a process cost system

A: Indirect cost is the cost that is not directly involved in the production process of the company.

Q: Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are…

A: Direct materials refers to the tangible components that make up a product. Cost accounting uses the…

Q: Which of the following formulae is used to calculate the cost per equivalent unit of production…

A: Equivalent units of production = Fully and partially completed units expressed as , % of fully…

Q: What is meant by the term equivalent units, with regards to process costing?

A: The  term  equivalent  unit  in process  costing  refers to

Q: Define absorption costing.

A: Absorption costing refers to managerial accounting cost method for expending each costs associated…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.