Need help with this question solution general accounting The standard material cost per kg of raw material is $5.25. Thestandard material allowed per unit is 3 Kg. The actual materialused per unit is 3.25 Kg. The actual cost per kg is $4.50.What is the standard cost per output unit?A. $17.06B. $15.75C. $14.63D. $13.50

Step 1: Introduction to standard costingStandard costing is a management accounting technique used…

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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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The standard labor rate is $8 per hour. Standard labor allowed per unit is 0.6 hours. The actual cost per labor hour is $7.5 and the actual labor hour per unit is 0.7 hours. What is the standard labor cost per output unit? a. $4.8 b. $5.6 c. $4.5 d. $5.25
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Conversion cost per unit equals $11.00. Total materials costs are $80500. Equivalent units of production for materials are 40250. How much is the total manufacturing cost per unit? $2.00. $13.00. $9.00. $11.00.
LO.10 (Appendix: carrying costs) Determine the carrying costs for an item costing $6.80, given the following per-unit cost information: Storage cost $0.24 Handling cost 0.28 Production labor cost 1.70 Insurance cost 0.44 Opportunity cost 8% of investment
Assume the following: • The standard price per pound is $3.00. • The actual quantity of materials purchased is 60,000 pounds. • The actual quantity of materials used in production is 62,000 pounds. • The actual purchase price per pound of materials was $3.10. What is the materials price variance? Multiple Choice O O $6,000 F $6,200 F $6,000 U $6,200 U
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VC per unit when LAV is 100 units = $ 20FC per unit when LAV is 200 units = $ 10Required: Calculate each of the following:1. Total costs of production when LAV is 100 units = $2. Total costs of production when LAV is 200 units = $ 3. Total costs of production when LAV is 50 units $4. Total costs of production when LAV is 400 units = $5. Total costs of production when LAV is Zero units = 56. Unit cost when LAV is 500 units = $7. 8. Unit cost when LAV is 20 units = $9. Unit cost when LAV is 250 units = $10. Unit cost when LAV is 1 unit = $ Unit cost when LAV is Zero units = =
Direct material $0.10, Direct laber is $0.25, Variable Overhead is $0.10, Fixed overhead is $0.40 what is the fixed costs per unit, the total cost per unit, and gross margin if 1,600,000 units were produced?
The Benoit Company produces three products A, B and C. The per unit data is as follows: Product A B C $80 $56 $70 24 15 09 24 27 40 48 42 49 Selling Price……………………………… Less: Variable Expenses Direct Materials………………………….. Other variable expenses………………… Total variable expenses…………………. Contribution Margin per Unit…………… $32 $14 $21 Contribution margin Ratio………………. 40% 25% 30% Demand for the company’s products is very strong, with far more orders each month than the company has raw materials available to produce. The same material is being used in each product. The material costs $3 per pound with a maximum of 5000 pounds available each month. The demand of product A, B and C is 800,700 and 600 respectively. Required: Compute the contribution margin per pound of direct material, which orders would you advise the company to accept first for those of product, A, B or C which combination of…
The absorption costing unit product cost is: a. $147.5 b. $163.5 c. $41.5 d. $99.5

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The standard material cost per kg of raw material is $5.25. The standard material allowed per unit is 3 Kg. The actual material used per unit is 3.25 Kg. The actual cost per kg is $4.50. What is the standard cost per output unit? A. $17.06 B. $15.75 C. $14.63 D. $13.50