Standard Direct Materials Cost per UnitRoanoke 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 (2,600bars) are as follows:IngredientQuantityPriceCocoa480 Ibs.$0.30 per Ib.Sugar150 Ibs.$0.60 per Ib.Milk120 gal.$1.30 per gal.Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.per bar

The goal of establishing standards for direct materials is to keep direct material costs under…

Answered: Standard Direct Materials Cost per Unit…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.8 pounds of the material, Ike uses 2.5 pounds of the material, and Bix uses 6.3 pounds of the material. Selling price per unit and variable costs per unit of each product follow.. Selling price per unit Variable costs per unit Kin $ 165.24 87.00 Contribution margin per pound Ike $ 104.00 82.00 (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, list the three products in the order in which management should produce and meet demand. Bix $ 222.82 151.00 Product Contribution Margin Order in which management should produce and meet demand: Kin Ike Bix
Assume the following: . The standard price per pound Is $2.35. . The standard quantity of pounds allowed per unit of finished goods is 4 pounds, • The actual quantity of materlals purchased was 53,000 pounds, whereas the quantity of materlals used In production was 51,000 pounds. The actual purchase price per pound of materlals was $2.25. • The company produced 13,000 units of finlshed goods during the perlod. What Is the materlals quantity varlance? Multiple Choice $4.700 F $2,250 F $2,350 F $4,500 F
Benoit Company produces three products-A, B, and C. Data concerning the three products follow (per unit): Product B $ 62.00 Selling price Variable expenses: Direct materials Other variable expenses Total variable expenses Contribution margin Contribution margin ratio A $ 80.00 24.00 24.00 48.00 $ 32.00 Required 1 Required 2 40% Required 3 18.00 25.40 43.40 $18.60 30% с $81.00 The company estimates that it can sell 800 units of each product per month. The same raw material is used in each product. The material costs $3 per pound with a maximum of 5,000 pounds available each month. 9.00 43.65 52.65 $28.35 Required: 1. Calculate the contribution margin per pound of the constraining resource for each product. 2. Which orders would you advise the company to accept first, those for A, B, or C? Which orders second? Third? 3. What is the maximum contribution margin that the company can earn per month if it makes optimal use of its 5,000 pounds of materials? 35% Complete this question by…
Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 3.4 pounds of the material, Ike uses 2.3 pounds of the material, and Bix uses 5.8 pounds of the material. Selling price per unit and variable costs per unit of each product follow. Selling price per unit Variable costs per unit Kin $ 157.02 105.00 Ike $ 105.16 84.00 Вix $ 219.18 149.00 (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, list the three products in the order in which management should produce and meet demand. Product Contribution Margin Kin Ike Bix Contribution margin per pound Order in which management should produce and meet demand:
U
Snapware Systems produces commercial strength cleansing supplies. Two of its main products are window cleaner that uses ammonia, and floor cleaner that uses bleach. Information for the most recent period follows: Product Names Window Cleaner (ammonia) Floor Cleaner (bleach) Direct materials information: Standard ounces per unit 16 oz. 24 oz. Standard price per ounce $0.75 ? Actual quantity used per unit 20 oz. 22 oz. Actual price paid for material $1.00 $0.90 Actual quantity purchased and used 1,500 oz. 2,800 oz.. Price variance ? $300 U Quantity variance $1,500 U ? Total direct materials variance ? $678 F Number of units produced 500 600 What is the standard price for bleach? Select one: a. $0.88/oz. b. $1.09/oz. c. $1.14/oz. d. $0.79/oz. e. $0.92/oz.
answer in text form please (without image)
Fill in the following table with your estimates of the company's total cost and average cost per cup of coffee at the indicated levels of activity. (Round the "Average cost per cup of coffee served" to 3 decimal places.) Fixed cost 2,000 Cups of Coffee 2,100 Cups of Coffee 2,200 Cups of Coffee Variable cost Total cost $ 0 $ 0 $ 0 Average cost per cup of coffee served
Shanghai Company sells glasses, fine china, and everyday dinnerware. It uses activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $12 per pound. A box of glasses weighs 2 pounds, a box of fine china weighs 4 pounds, and a box of everyday dinnerware weighs 6 pounds. a Determine the shipping and handling activity cost to be allocated to each unit of product. Glasses Fine China Everyday dinnerware b Determine the total shipping and receiving costs to be allocated to the fine china if 2,300 boxes are shipped.
Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4 pounds of the material, Ike uses 3 pounds of the material, and Bix uses 6 pounds of the material. Selling price per unit and variable costs per unit of each product follow. Selling price per unit Variable costs per unit Kin $ 160 96 Contribution margin per pound Ike $ 112 85 Bix $ 210 144 (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, list the three products in the order in which management should produce and meet demand. Product Contribution Margin Order in which management should produce and meet demand: Kin Ike Bix
Redhead Equipment Inc. manufactures three products. Information about the selling prices and unit costs for the three products is below: Product A Selling price $90.00 $60.00 $110.00 Variable costs $52.00 $24.00 $63.00 Fixed costs $22.00 $8.00 $25.00 Compression machine time 11 min. 6 min. 13 min. Fixed costs are applied based on direct labour hours. Demand for the three products exceeds the company's current production capacity. The compression machine is the constraint, with just 2,500 minutes of compression machine time available this week. Required: a. Given the compression machine constraint, which product should be emphasized? Be sure to show your calculations to support your recommendation Activa Go to P

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS