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…

Answered: v2.cengagenow.com P Standard Direct…

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

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
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 .
Need help on 4. and 5. on this question
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.
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…
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 $ 120.00 $ 87.00 Direct materials per unit $ 65.20 $ 51.00 Direct labor per unit $ 11.20 $ 8.00 Direct labor-hours per unit 1.4 DLHs 1.0 DLHs Estimated annual production and sales 30,000 units 65,000 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 $ 2,033,000 Estimated total direct labor-hours 107,000 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 activity-based costing…
help me
Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound Cocoa 12 lbs. 8 lbs. $7.25 Sugar 10 lbs. 14 lbs. 1.40 Standard labor time 0.50 hr. 0.60 hr. Dark Chocolate Light Chocolate Planned production 4,700 cases 11,000 cases Standard labor rate $15.50 per hr. $15.50 per hr. I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Dark Chocolate Light Chocolate Actual production (cases) 5,000 10,000 Actual Price per Pound Actual Pounds Purchased and Used Cocoa $7.33 140,300 Sugar 1.35 188,000 Actual Labor Rate Actual Labor Hours Used Dark chocolate $15.25 per hr. 2,360 Light chocolate 15.80 per hr. 6,120 this is all the information i have and i need help calulating the direct labor time variance
JIngredient A12H is a material used to make Calvin Corporation's major product. The standard cost of Ingredient A12H is $23.00 per ounce and the standard quantity is 3.8 ounces per unit of output. Data concerning the compound for October appear below: a) debit of $3,680. b) credit of $3,680. c) credit of $4,140. d) debit of $4,140.

SEE MORE QUESTIONS

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