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23 Nov 2019

Tang Company accumulates the following data concerning raw materials in making one gallon of finished product: (1) Price—net purchase price $2.32, freight-in $0.62, and receiving and handling $0.33. (2) Quantity—required materials 3.17 pounds, allowance for waste and spoilage 0.80 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per gallon. $ (b) Standard direct materials quantity per gallon. pounds (c) Total standard materials cost per gallon. $

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6 Jul 2019
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1.)Marcus Company uses both standards and budgets. For the year,estimated production of Product X is 495,400 units. Total estimatedcost for materials and labor are $1,015,570 and $1,857,750. Computethe estimates for (a) a standard cost and (b) a budgetedcost.
Materials Labor
A.)Standard Cost $ $
B.)Bugeted Cost $ $

2.)Nien Company accumulates the following data concerning rawmaterials in making one gallon of finished product: (1) Price-netpurchase price $2.50, freight-in $0.40 and receiving and handling$0.40. (2) Quantity-required materials 2.6 pounds, allowance forwaste and spoilage 0.4 pounds. Compute the following.
A.)Standard direct materials price per gallon.? $
B.)Standard direct materials quantity per gallon.? Pounds
C.)Total standard materials cost per gallon. ? $

3.)Labor data for making one gallon of finished product in NienCompany are as follows: (1) Price-hourly wage rate $13.80, payrolltaxes $0.80, and fringe benefits $1.50. (2) Quantity-actualproduction time 1.1 hours, rest periods and clean up 0.30 hours,and setup and downtime 0.40 hours. Compute the following.
A.)Standard direct labor rate per hour. ? $
B.)Standard direct labor hours per gallon. ? Hours
C.)Standard labor cost per gallon. ? $



Kimm Company has gathered the following information about its product.


Direct materials. Each unit of product contains 4.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.10 pounds. Materials cost $4 per pound, but Kimm always takes the 2.39% cash discount all of its suppliers offer. Freight costs average $0.27 per pound.

Direct labor. Each unit requires 2.70 hours of labor. Setup, cleanup, and downtime average 0.20 hours per unit. The average hourly pay rate of Kimm’s employees is $11.80. Payroll taxes and fringe benefits are an additional $2.80 per hour.

Manufacturing overhead. Overhead is applied at a rate of $5.90 per direct labor hour.



Compute Kimm’s total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.)

Total standard cost per unit : $_________

Stefani Company has gathered the following information about its product.

Direct materials: Each unit of product contains 3.40 pounds of materials. The average waste and spoilage per unit produced under normal conditions are 0.60 pounds. Materials cost $ 5 per pound, but Stefani always takes the 4.00 % cash discount all of its suppliers offer. Freight costs an average of $ 0.40 per pound.

Direct labor. Each unit requires 1.00 hours of labor. Setup, cleanup, and downtime average about 0.20 hours per unit. The average hourly pay rate of Stefani’s employees is $ 10.00. Payroll taxes and fringe benefits are an additional $ 3.90 per hour.

Manufacturing overhead. Overhead is applied at a rate of $ 4.50 per direct labor hour.

Compute Stefani’s total standard cost per unit. (Round intermediate calculations and final answer to 2 decimal places, e.g. 1.25.)

 

 

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