What is the standard quantity of base per bottle? Sandy's sauces, which produces stir-fry sauces, isdeveloping direct material standards. Each bottle of saucerequires 0.6 kilograms of base. The allowance for waste is0.6 kilograms per bottle, while the allowance for rejects is0.7 kilograms per bottle.What is the standard quantity of base per bottle?A) 0.6 kilogramsB) 1.2 kilogramsC) 1.3 kilogramsD) 1.9 kilograms.

Step 1: Define Standard Quantity Per UnitAny manufacturing firm usually estimates the quantity…

Answered: Sandy's sauces, which produces stir-fry…

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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Sandy's Sauces, which produces stir-fry sauces, is developing direct material standards. Each bottle of sauce requires 0.6 kilograms of base. The allowance for waste is 0.7 kilograms per bottle, while the allowance for rejects is 0.8 kilograms per bottle. What is the standard quantity of base per bottle? A. 2.1 kilograms B. 0.6 kilograms C. 1.3 kilograms D. 1.4 kilograms
Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (2,300 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 3,800 lbs. $0.48 per lb. Vinegar 210 gal. 2.90 per gal. Corn syrup 18 gal. 10.70 per gal. Salt 84 lbs. 2.70 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch 08-99 were as follows: 4,000 lbs. of tomatoes 202 gal. of vinegar 19 gal. of corn syrup 83 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. Ingredient Standard Costper Batch Whole tomatoes $ Vinegar Corn syrup Salt Total $ Standard unit materials cost per pound $ b. Determine the direct materials quantity variance for batch 08-99. If required, round amounts to the nearest cent. Enter a favorable…
Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (1,400 pounds) has the following standards: Standard Quantity Standard Price Whole tomatoes 2,300 lbs. $ 0.52 per lb. Vinegar 130 gal. $ 3.20 per gal. Corn syrup 11 gal. $ 11.60 per gal. Salt 52 lbs. $ 2.90 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch K-111 were as follows: 2,400 lbs. of tomatoes 125 gal. of vinegar 12 gal. of corn syrup 51 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. Ingredient Standard Cost per Batch Whole tomatoes $ Vinegar $ Corn syrup $ Salt $ Total $ Standard unit materials cost per pound $ b. Determine the direct materials quantity variance for batch K-111. If required, round amounts to the nearest cent. Enter a…
H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (2,700 pounds) has the following standards: Ingredient Standard Quantity Standard Price Whole tomatoes 4,500 lbs. $0.37 per lb. Vinegar 250 gal. 2.30 per gal. Corn syrup 22 gal. 8.20 per gal. Salt 100 lbs. 2.10 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch 08-99 were as follows: 4,700 lbs. of tomatoes240 gal. of vinegar23 gal. of corn syrup99 lbs. of salt a. Determine the standard unit materials cost per pound for a standard batch. If required, round amounts to the nearest cent. Ingredient Standard Costper Batch Whole tomatoes $fill in the blank 1 Vinegar fill in the blank 2 Corn syrup fill in the blank 3 Salt fill in the blank 4 Total $fill in the blank 5 Standard unit materials cost per pound $fill in the blank 6 b. Determine the direct materials…
H1.
Truly Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,457 bars) are as follows: Ingredient Quantity Price Cocoa 420 lbs. $0.30 per lb. Sugar 120 lbs. $0.60 per lb. Milk 90 gal. $1.20 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places.fill in the blank 1 of 1$ per bar
Titus Company purchased and used 650 pounds of tomatoes (direct materials) to produce a taco sauce with a 635 pound standard direct materials requirement. The standard materials price is $22.40 per pound. The actual price of the tomatoes was $22.20 per pound. Titus records standard costs and variances in its accounts. a. Journalize the entry to record the purchase of the tomatoes. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the tomatoes used in production. If an amount box does not require an entry, leave it blank.
How much greater or less is this than the cost that was incurred ?
Saved Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,600 helmets, using 2,592 kilograms of plastic. The plastic cost the company $17,107. According to the standard cost card, each helmet should require 0.65 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,600 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3,600 helmets? 3. What is the materials spending variance? 4. What Is the materials price varlance and the materials quantity variance? 1:35 ed ok (For requirements 3 and 4, 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. Do not round intermediate calculations.) nt. ences, 1. Standard…
Bandar Industries manufactures sporting equipment. One of the company’s products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,900 helmets, using 2,262 kilograms of plastic. The plastic cost the company $17,191. According to the standard cost card, each helmet should require 0.51 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,900 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,900 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, 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. Do not round intermediate calculations.)
Berghof Foods manufactures various gourmet ethnic food products. Production of its specialty hummus requires a half pound of material per container, which costs $12 per pound and requires 45 minutes (i.e., 0:75 hour) of direct labor. Direct labor costs $20 per hour; the variable overhead rate is $10 per direct labor hour; and the fixed overhead rate is $6 per direct labor hour. What is the standard cost for each container of specialty hummus produced? Select one: O O O O O a. $21.00 per container b. $28.50 per container c. $33.00 per container d. $48.00 per container e. None of the above
Bandar Industries manufactures sporting equipment. One of the company's products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 3,100 helmets, using 2,170 kilograms of plastic. The plasti cost the company $14,322. According to the standard cost card, each helmet should require 0.65 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,100 helmets? 2. What is the standard materials cost allowed (SQ x SP) to make 3.100 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, 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. Do not round intermediate calculations.) 1. Standard quantity of kilograms allowed…

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