1 Standard Direct Materials Cost per UnitCrazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch ofchocolate (2,050 bars) are as follows:QuantityIngredientCocoaSugarMilk630 lbs.180 lbs.150 gal.Price$0.40 per lb.$0.60 per lb.$1.70 per gal.Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.per bar

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Description: 1 Standard Direct Materials Cost per UnitCrazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch ofchocolate (2,050 bars) are as follows:QuantityI

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Standard Direct Materials Cost per Unit Crazy 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 (2,050 bars) are as follows: Ingredient Quantity Cocoa Sugar 630 lbs. Milk Price $0.40 per lb. $0.60 per lb. $1.70 per gal. 180 lbs. 150 gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. per bar

Standard Direct Materials Cost per Unit Crazy 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 (2,050 bars) are as follows: Ingredient Quantity Cocoa Sugar 630 lbs. Milk Price $0.40 per lb. $0.60 per lb. $1.70 per gal. 180 lbs. 150 gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent. per bar

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Standard Direct Materials Cost per Unit
Crazy 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 (2,050 bars) are as follows:
Quantity
Ingredient
Cocoa
Sugar
Milk
630 lbs.
180 lbs.
150 gal.
Price
$0.40 per lb.
$0.60 per lb.
$1.70 per gal.
Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.
per bar

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