Answered: The standard price per kilogram for the…

Name: A total of 6,850 kilograms of a raw material was purchased at a total
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: A total of 6,850 kilograms of a raw material was purchased at a total cost of $21,920. The materials price variance was $1,370 favorable. The standard price per kilogram for the raw material must be:

Business

Accounting

The standard price per kilogram for the raw material must be

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

The actual margin per unit and margin per unit estimated in the plan are $6 and $8, respectively. The actual volume and the volume estimated in the plan are 5,000 units and 10,000 units, respectively. What is the margin variance of the business? O-$10,000 $5,000 -$20,000 $10,000 O$20,000
Firm X has a production process that has a total joint cost of $14,000. At the split-off point, there are 1,000 pounds of Product 1 and 3,000 pounds of Product 2. What is the cost per pound of Product 1 using the physical measure method?
Futon Ltd. is a manufacturing company with the following cost information for one of its products: 4.67 Standard price per kilogram of direct materials 1350 Actual quantity of direct materials purchased (in kg) 1950 Standard quantity allowed for actual production (in kg) $ 305.00 Material purchase variance (favourable) What is the actual purchase price per kg? O a) $4.51 O b) $4.44 O c) $4.90 O d) $4.67
Production Facilities cost is 465000 OMR. Total Variable cost is 65000 OMR. Calculate Total Fixed cost
Please do not give imahe format
Provide the Correct answer
1. The standard material cost for 100 kg of Chemical D is made up of: Chemical A 30 kg @ RO 4 per kg Chemical B 40 kg @ RO 5 per kg Chemical C 80 kg @ RO 6 per kg In a batch, 500 kg of chemical D were produced from a mix of: Chemical A 140 kg at a cost of RO 588 Chemical B 220 kg at a cost of RO 1056 Chemical C 440 kg at a cost of RO 2860 How do the yield, mix and the price factor contribute to the variance in the actual per 100 kg of chemical D over the standard cost?
A company produces X, Y and Z from a raw material M. For every 100 tonnes of M put into production it obtains 50 tons of product X, 30 tons of Y and 15 tons of Z, while 5 tons goes as waste. The selling price of X, Y and Z is Rs. 40, Rs. 60 and Rs. 80 per ton. The cost of raw material M is Rs. 20 and variable processing costs are Rs. 10. Variable marketing costs are budgeted to be at the rate of 10 percent of sales value. Budgeted fixed overheads per annum are: Manufacturing - Rs. 40,000, Marketing - Rs. 30,000, and Administration - Rs. 20,000. The company intends to process 10,000 tonnes of material M in the coming year. Question 1:- Fixed Cost is Rs. Question 2:- Contribution is Rs. Question 3:- Net Profit is Rs. Question 4:- Break Even Point is Rs. Question 5:- Maximum Price Per Ton is Rs.
PRESENT YOUR ANSWER AS: 10 FAVORABLE OR 10 UNFAVORABLE. The standard product mix for making 12,500 tubes of liquid solder is: Cost /unit Tolal cost 90.00 Kgs. Material A 1,500.00 0.06 Material B 625.00 0.40 250.00 Material C 1,000.00 0.25 250.00 During April, 77,500 tubes were produced from an input of: Kgs. Cost /unit Total cost Material A 8,750.00 0.056 490.00 0. 380 1,425.00 0. 280 1,750.00 Material B 3,750.00 Material C 6,250.00 Compute for the materials yield variance. Indicate whether favorable or unfavorable.
. In a manufacturing process, following standards apply: Standard prices: Raw Material A – Rs 10/Kg and B – Rs 50/kg Standard Mix – 75% of A and 25% of B (By weight) Standard output – 90% of the raw material (in weight) In a particular period, actual costs, usages and output were as follows: 4400 kg of A costing Rs 46,500 1600 kgs of B costing Rs 78,500 Output was 5670 kgs of the product. The budgeted output of the period was 7200 kgs. Calculate all material variances. . In a manufacturing process, following standards apply: Standard prices: Raw Material A – Rs 10/Kg and B – Rs 50/kg Standard Mix – 75% of A and 25% of B (By weight) Standard output – 90% of the raw material (in weight) In a particular period, actual costs, usages and output were as follows: 4400 kg of A costing Rs 46,500 1600 kgs of B costing Rs 78,500 Output was 5670 kgs of the product. The budgeted output of the period was 7200 kgs. Calculate all material variances.
Assume that the cost formula for one of a company’s mixed expenses is $10,000 + $3.80 per unit. The company’s planned level of activity was 2,000 units and its actual level of activity was 2,200 units. The actual amount of this expense was $18,200. The activity variance for this expense is:
The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of actual production are as follows: Line Item DescriptionValueFixed overhead (based on 10,000 hours)3 hours per unit at $0.71 per hourVariable overhead3 hours per unit at $1.98 per hour Actual Costs Total variable cost, $18,200 Total fixed cost, $8,200 The fixed factory overhead volume variance is Group of answer choices $1,136 unfavorable $909 unfavorable $909 favorable $0