The required production of Libra Manufacturers for October 2024 is 10 000 units of Product A. Each unit requires two kilograms of materials. The manufacturer desires an inventory of 2 000 kilograms of materials on 31 October 2024 but expects to have an inventory of 1 400 kilograms on 01 October 2024. How many kilograms of materials should be purchased? O A. 20 000 OB. 20 600 O C. 19 400 OD. 10 600
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- You are provided the following production information for the month of October 2020 Material A Material B Material C Opening WIP Cost RO R5,622 R4 235 Current Months' Cost R57,885 R66,368 R36,329 Equivalent Units 6,264 units 9.863 units 7.959 units If a FIFO system is used, what is the cost per equivalent unit for Material C?Isabella Company has developed the following standard costs for its product for 2019: ISABELLA COMPANY Standard Cost Card Product A Cost Element Standard Quantity × Standard Price = Standard Cost Direct materials 4 pounds $3 $12 Direct labor 3 hours 8 24 Manufacturing overhead 3 hours 4 12 $48 The company expected to produce 30,000 units of Product A in 2020 and work 90,000 direct labor hours. Actual results for 2020 are as follows: 31,000 units of Product A were produced. Actual direct labor costs were $746,200 for 91,000 direct labor hours worked. Actual direct materials purchased and used during the year cost $346,500 for 126,000 pounds. Actual variable overhead incurred was $155,000 and actual fixed overhead incurred was $205,000. Instructions Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable. (a) Materials quantity variance. (b) Total direct labor variance. (c) Direct labor…AKS Limited makes and sells three different motor parts: AKS001, AKS002 and AKS003. The total forecast sales and production volume for the three motor parts for 2021 are 15 000 units. Expected sales volumes for each model are shown in the following table.Sales and production figures AKS001 AKS002 AKS003 Sales and Production Volume 10 000 3 000 2 000 Direct costs of production Prime costs are the direct materials and direct labour for each product. The estimated prime costs for the three products are shown in the following table. Prime Cost Element AKS001 AKS002 AKS003 Direct materials per unit $55.00 $85.00 $105.00 Direct Labour per unit $40.00 $30.00 $25.00 Total prime cost per unit $95.00 $115.00 $130.00 Overheads Indirect manufacturing costs are budgeted to be $810 000. These are currently allocated across the three product lines based on direct labour-hours (DLHs), as shown in the following table. Cost driver…
- Jaka Corporation manufactures and sells concrete blocks for the residential and commercial building. Jaka expects the following sales unit, the price per unit and desired ending inventory for the year 2021. Inventories for both 1st January 2021 and 1st January 2022 are expected to be 100,000 blocks. The raw materials and direct labour required for each concrete block are as follows: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales unit 2,000,000 6,000,000 6,000,000 2,000,000 Price/unit ($) 0.70 0.70 0.80 0.80 Ending Inventory 500,000 500,000 100,000 100,000 Units Raw materials 26kg Direct labour 0.015 hour Cost $0.01/kg $14/hour Jaka's policy is to have 5 million kg of raw materials in ending inventory for the third and fourth quarters and 8 million kg of the materials in ending inventory for the first and second quarters. Required: Prepare the following…PT Sinaran Raya has two plans for production activities in 2019 as follows: Requested: 1. Calculate the estimated total production costs for: a. Total estimated production of 12,000 units b. Total estimated production of 10,000 units 2. Calculate the estimated production cost per unit for the production quantities of 12,000 units and 10,000 units 3. What can you conclude from the two planned levels of production activities?Oak Industrial has estimated that production for the next five quarters will be:. Production Information 1st quarter, 2020 44,100 units 2nd quarter, 2020 40,000 units 3rd quarter, 2020 48,200 units 4th quarter, 2020 37,600 units 1st quarter, 2021 45,700 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $277,830 of raw material on hand at the beginning of the first quarter, 2020. Oak desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter.Prepare quarterly direct materials purchases budgets for Oak Industrial for 2020.
- Crane Company collected the following production data for the past quarter: Units Month Produced March April May 5000 4000 3400 Total Cost $190000 170000 142000 If Crane uses the high-low method to project costs for the next quarter, what total cost equation will the company use? Total cost $0+ $100/unitx Quantity O Total cost $74000+ $20/unit x Quantity Q Total cost-$57000+ $25/unit x Quantity O Total cost $40000+ $30/unit x QuantityMaju Berhad manufactures various chemicals compounds for industrial use in domestic and overseas market. One of its compound, called Sinar, is prepared using an elaborated distilling process and was sold in the market at the price of RM110 per unit. The company's management is anxious to determine the efficiency of Sinar production activities for the month of June 2019. The standard cost card for compound Sinar is given as follows: RM 50.00 Direct materials (2.5 kg x RM20.00/kg) Direct labor (1.4 dlh at RM12.50/dlh) Variable overhead (1.4 dlh at RM3.50/dlh) 17.50 4.90 Standard cost per unit 72.40 During the month of June 2019, Maju Berhad manufactured 3,750 units of product Sinar. A total of 12,000 kg of raw materials were purchased during the month at a total cost of RM225,000. There were no beginning inventories, but there were 2,500 kg of raw materials remained in ending inventories at the end of June 2019. The company employs 35 lab technicians to work on the production of Sinar.…Annual production of Product X is 400,000 annually. Each unit of Product X requires 2.5 units of material J. Product X is sold for 500 per unit and its total manufacturing cost is 300. Material J is purchased at 60 per unit. Carrying cost per unit of material J is 1 per unit while the ordering cost is 500 per order. How any units of material j shall the company order each time to minimize total relevant cost of inventories? a. 31,623 b. 20,000 c. 30,263 d. 26,336 e. None of these
- 14. Grace Corp has an expected annual usage of 7,800,000 units of materials. The standard order size is 65,000 units. The supplier cost each unit at P150., and to place one order is P90. What is the estimated annual order cost ?An organisation manufactures a single product. The following information with regard to the raw material needed in the production process is supplied to you: Normal delivery time: 2.5 weeks Maximum delivery time: 3.5 weeks Normal usage: 52 000 units per year Purchase price per unit: R8.50 Cost of placing an order: R18.00 Interest rate: 2% per year Storing cost per unit: R2.50 a). Calculate the lead time demandRefer to Cornerstone Exercises 2.2 and 2.3. Next year, Pietro expects to produce 50,000 units and sell 49,300 units at a price of 12.50 each. Beginning inventory of finished goods is 42,500, and ending inventory of finished goods is expected to be 34,000. Total selling expense is projected at 26,000, and total administrative expense is projected at 134,000. Required: 1. Prepare an income statement in good form. Be sure to include the percent of sales column. 2. What if the cost of goods sold percentage for the past few years was 65 percent? Explain how management might react.