v2.cengagenow.comStandard Direct Materials Cost per UnitTruly Delicious Inc. produces chocolate bars. The primary materialsused in producing chocolate bars are cocoa, sugar, and milk. Thestandard costs for a batch of chocolate (1,810 bars) are as follows:IngredientPriceCocoaSugarMilkQuantity600 lbs.$0.30 per lb.180 lbs.$0.60 per lb.150 gal.$1.70 per gal.Determine the standard direct materials cost per bar of chocolate.Round to two decimal places.X per barFeedbackCheck My WorkRemember the process discussed in chapter for calculatingstandard direct materials cost per unit.

Standard cost per unit is calculated by dividing total standard material cost by total number of…

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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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AE 1 -Evaluate production constraint decisions using quantitative factors and assess special order decisions Rainbow Company produces the following types of paint: RED $50.00 $20.00 4 Selling Price per can Variable cost per can Product mix Direct material W (kg) per can 3kg Fixed manufacturing costs are $1,400,000 for the month BLUE $65.00 $25.00 4 5kg YELLOW $60.00 $25.00 4 7kg PINK $55.00 $20.00 8 5kg (a) Compute the contribution margin per can of each type of paint and the weighted contribution margin (b) Compute the contribution margin per direct material W. Determine which type of paint will have the highest contribution margin per direct material W (c) What is the breakeven number of cans per month? Show the breakeven quantity by the type of paint (d) Total production capacity = 80,000 cans per month for all types of paint Current production of BLUE paint in a month =13,000 cans Rainbow Company receives a special order from Wonder Company to purchase 2,000 cans of SKY BLUE paint…
Use the following standard cost and actual information to calculate the cost of 1 gallon of ice cream to answer the questions below. Product: Gallon of Ice Cream Manufacturing Cost Information Standard Standard Cost Cost per Unit $1.00 per quart $38.00 per hour Quantity Summary $6.00 $1.90 $7.90 Direct Materials 6 quarts Direct Labor 3 minutes Total Direct Costs Actual costs incurred to make 50 gallons of ice cream: • 275 quarts of cream at $1.05 per gallon • 165 minutes of labor at $37.00 per hour (60 minutes = 1 hour) (a) Calculate the material price variance
Use the following standard cost and actual information to calculate the cost of 1 gallon of ice cream to answer the questions below. Product: Gallon of Ice Cream Manufacturing Cost Information Standard Standard Cost Cost X Quantity 6 quarts Summary $6.00 $1.90 per Unit $1.00 per quart $38.00 per hour Direct Materials Direct Labor 3 minutes Total Direct Costs $7.90 Actual costs incurred to make 50 gallons of ice cream: • 275 quarts of cream at $1.05 per gallon • 165 minutes of labor at $37.00 per hour (60 minutes = 1 hour) (d) Calculate the labor efficiency (hourly) variance
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Sorry for image error: For 500 ml: estimated to: 140.00 For 100 ml: estimated to: 45.00 For 50 ml: estimated to: 30.00 TASK: I NEED THE COSTING FOR 300 ml product: coffee
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 (2,143 bars) are as follows: Ingredient Quantity Price Cocoa 510 lbs. $0.40 per lb. Sugar 150 lbs. $0.60 per lb. Milk 120 gal. $1.30 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.$per bar
Topic 1 (25 units) Topic 1 (25 units) the production range of the Martinez Company ranges from 7,500 units to 12,500 product units. When it produces and sells 10,000 units, the unit cost is as follows: Unit Cost Direct Materials 6,00€ Direct Work 3,50€ Metavlita G.B.E. 1,50€ Stathera G.B.E. 4,00€ Fixed cost of sales 3,00€ Stable administrative expenditure 2,00€ Sales commissions 1,00€ Variable administrative expenditure 0,50€ They ask: Calculate the total cost of the period incurred for the sale of 10,000 units. Calculate the variable and the total period cost if 8,000 units were sold . Calculate the variable and total period cost if 12,500 units were sold .
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solve a and b. Fine Lumber Inc. mills and finishes furniture kits. A certain kit requires the following: Direct materials standard: 2 square yards at $13.50 per yard Direct manufacturing labor standard: 1.5 hours at $20.00 per hour During the third quarter, the company made 1,500 kits and used 3,150 square yards of wood costing $42,600. Direct labor totaled 2,100 hours for $46,150. Required: a.Use a worksheet to compute the following variances and indicate whether each variance is favorable or unfavorable: direct materials price and efficiency variances for the quarter, and b. direct manufacturing labor price and efficiency variances for the quarter.
Using the high- low method, How much is the total cost of producting 1330 grams of honey? The correct accountant of Sweet Company recorded these cost of producing honeybee: Days Grams Produced Total Cost Incurred Mon 100 P1,000 Tues 75 600 Wed 25 400 Thurs 150 1,500 Frid 175 1,600 Sat 50 600 Sun 125 1,300
Using the high-low method, how much is the total cost of producing 130 grams of honey? The cost accountant of sweet company recorded these cost of producing honeybee: DAYS GRAMS PRODUCED TOTAL COST INCURRED MON 100 1000 TUES 75 600 WED 25 400 THURS 150 1500 FRI 175 1600 SAT 50 600 SUN 125 1300
Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below: Xtreme Pathfinder Selling price per unit $ 132.00 $ 94.00 Direct materials per unit $ 64.60 $ 53.00 Direct labor per unit $ 9.60 $ 8.00 Direct labor-hours per unit 1.2 DLHs 1.0 DLHs Estimated annual production and sales 24,000 units 70,000 units The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below: Estimated total manufacturing overhead $ 2,470,000 Estimated total direct labor-hours 98,800 DLHs Required: 1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system. 2. The company is considering replacing its traditional costing system with an…

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