Problem 16-61 (Algo) Direct Materials (LO 16-5) Information about direct materials cost follows for a local company: $4 2,270 grams 2,400 grams $15,890 F Standard price per materials gram 20 Actual quantity used Standard quantity allowed for production Price variance Required: What was the actual purchase price per gram? Actual purchase price per gram

Problem 16-61 (Algo) Direct Materials (LO 16-5) Information about direct materials cost follows for a local company: $4 2,270 grams 2,400 grams $15,890 F Standard price per materials gram 20 Actual quantity used Standard quantity allowed for production Price variance Required: What was the actual purchase price per gram? Actual purchase price per gram

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Description: Problem 16-61 (Algo) Direct Materials (LO 16-5)Information about direct materials cost follows for a local company:Standard price per materials gramActual quantity usedStandard quantity allowed for production202,270 grams2,400 grams$15,890 FPrice va

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...

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Information about direct materials cost follows for a local company: Standard price per materials gram $ 15 Actual quantity used 2,250 grams Standard quantity allowed for production 2,400 grams Price variance $ 13,500 F Required: What was the actual purchase price per gram?
5. Calculate the direct material from the following information: Direct expenses RO 90,000, Direct labor RO 20,000, manufacturing overheads RO 30,000 and prime cost RO 170,000. a.RO 21,000 b.RO18,000 c.RO 60,000 d.RO 20,000 6. Which of the following are used for calculating economic order frequency? i. Total annual consumption ii. No of order per year iii. Buying cost per order iv. 365 days a.i and ii b.ii and iv c.iii and iv d.i and iv
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are Actual Material price per pound of direct material Quantity of material in pound per unit of product Actual production untis of product BDMOV (AQ SQ) for Actual Production x SP C DMCV DMPV + DMOV Actual cost per unit of product (AC) Standard costs per unit of product (SC) $8.00 Alternate formula to compute DMCV= (Actual cost-standard cost) per unit x # of units 065 3,000 Required: Compute the followings variances and indicate if they are favorable (F) or unfavorable (UF) A. Direct material Price variance (DMPV) B. Direct matenal Quantity variance (DMQV) C. Total Direct material Cost variance (DMCV) Solution: A.DMPV = (AP-SP) x AQ for Actual Production Standard Variance $ For UF ($1,462 50) F ($5,250.00) F AQ $8.75 SQ 0.45 ($6.712 50) F 1950 1350 Acronyms: AP Actual price per unit of Material SP Standard price per unit of Material AQ-Actual quantity of Material for Actual…
Data table Units of D4H produced and sold 1. 2. Selling price 3. Direct materials (kilograms) 4. Direct material cost per kilogram 5. Manufacturing capacity (units of D4H) 6. Total conversion costs 7. 8. Selling and customer-service capacity 9. Total selling and customer-service costs 10. Selling and customer-service capacity cost per customer 11. Design staff 12. Total design costs 13. Design cost per employee Conversion cost per unit of capacity Alt+Q Print Done $ $ 210 41,000 $ 310,000 7.25 $ 250 2,125,000 $ 8,500 $ $ $ 2,150,000 8,600 95 customers 90 customers 900,000 10,000 12 1,045,000 $ 11,000 $ 12 1,212,000 $ 101,000 $ $ $ ZUZT $ $ ZUZZ 235 43,000 325,000 7.75 250 1,218,000 101,500 (similar to) Data table HW Score: 3.03%, 0.12 of 4 points Daint 0 10 of 1 Revenue effect of growth Cost effect of growth The company has chosen a product differentiation strategy. The growth, price- recovery, and productivity components of the change in operating income from 2021 to 2022 are as…
Direct materials(per kg) Direct labour (per hour) Direct Expenses Selling price Sales Demand Total Fixed Costs Rank Units produced Product 1 Product 2 Product 3 Product 4 £ per kg/hour £ ₤ £ 444 13.14 23.00 £ £ 14.60 £ 18.25 ₤ 25.55 11.50 £ 30.66 £ 26.83 72 21 1.28 £ 42.00 14,490 £ 38.00 3.83 £ £ 2.56 £ 6.39 64.00 £ 68.00 5,980 4,140 9,890 £ 137,000.00 Product 1 4 Product 2 2 Product 3 1 Product 4 3 5,980 4,140 7,324 A management accounting graduate has successfully created the optimal production plan for the four products above. Calculate the profit and values below. | Total £ Sales Variable Costs Profit Enter your values to 2 decimal places with no £ sign or commas.
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Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.
What type of cost exhibits the behavior shown below? Manufacturing Volume (Units) Cost Per Unit 50,000 $1.95 70,000 1.95 Select one: a. Discretionary fixed cost b. Step-fixed cost. c. Semivariable cost.d. Variable cost. e. Fixed cost
subject:accounting ACCT 203 produces and sells lighting fixtures. An entry light has a total cost of $180 per unit, of which $100 is product cost and $80 is selling and administrative expenses. In addition, the total cost of $180 is made up of $110 variable cost and $70 fixed cost. The desired profit is $45 per unit. Determine the markup percentage on product cost.
nttps:25A%252F%252HM..mh A company allocates materials handling cost to the company's two products using the below data: Product A Product B Total expected units produced 5,400 11,800 Total expected material 530 470 moves Expected direct labor-hour 670 150 per unit The total materials handling cost for the year is expected to be $182,000. If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost would be allocated to the Product B? (Round your intermediate calculations to 5 decimal places.) Multiple Choice $97,944 $74,263 $35,671 $59.791
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Evaluating Selected Cost Driver Assume that a manufacturer of specialized machine parts developed the following total cost estimating equation for manufacturing costs. Y = $14,400 + $1,250 (actual units) a. What is total estimated manufacturing costs if 180 units are produced? $Answer 0