Using the following standard quantities and standard rates, calculate the standard costs of direct materials, direct labor,
Question:
Transcribed Image Text:
Standard Standard Quantity Price or Rate 4 pounds 2.5 hours 2.5 hours 2.5 hours Direct materials Direct labor. Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (based on direct labor hours) S 1.25 15.00 1.70 0.50
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Standard Standard Standard Quantity Price or Rate Co...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Question Posted:
Students also viewed these Managerial Accounting questions
-
THE COIN TRADING GAME REVISITED 1. A third passenger has been watching you play. She suggests it is more challenging to start the game with three blue coins' and to remove the number of white coins...
-
Taylor Ltd entered into a lease arrangement with Swift Ltd on 1 July 2019 for four years. A lease payment of $85,000 are made on 30 June every year, with first payment to be made on 30 June 2020. The...
-
Using the following standard reduction potentials, Fe3+(aq) + e- Fe2+(aq) E = +0.77 V Ni2+(aq) + 2 e- Ni(s) E = -0.23 V calculate the standard cell potential for the galvanic cell reaction given...
-
Identify the accounting periods relating to the following periods of account: (a) year to 30 November 2020 (b) 1 October 2019 to 31 July 2020 (c) 1 January 2021 to 31 January 2021 (d) 33 months to 31...
-
Refer to the trial balance prepared for Kiersted Financial Services in P2-5B, part (c). Instructions (a) Prepare an income statement. (b) Prepare a statement of owner's equity. (c) Prepare a balance...
-
Determine whether your state has a lottery. If so, do research and write a paper indicating (a) The probability of winning the grand prize. (b) The odds against winning the grand prize. (c) Explain,...
-
Here are the test scores for a group of 15 adults who were assessed on their long-term memory in June and again in August using the same instrument. What type of reliability measure would you use to...
-
Solve for Unknowns The Stockholders Equity category of Zache Companys balance sheet appears below. Common stock, $10 par, 10,000 shares issued, 9,200 outstanding ............$ ? Additional paid-in...
-
If we compare ownership patterns of large- and medium-sized companies, which if the following is generally true? Compared to economies in the Anglo-Saxon countries, the firms in Asian countries tend...
-
The Burj Dubai is the tallest building in the world [94]. The building, shown in Figure AP1.5, stands at over 800 m with more than 160 stories. There are 57 elevators servicing this tallest...
-
Which one of the following is not an example of a responsibility center in an organization? a. Profit center b. Asset center c. Cost center d. Investment center
-
Olthof Company purchased 15,000 pounds of raw materials at $3.00 per pound. The companys standard cost per pound is $2.50. Calculate the materials price variance for this purchase.
-
Asset allocation is an investment strategy that suggests you structure your portfolio with stocks from different sectors. True or False
-
(a) Derive the equation i = B ij j for the precession angular velocity of a gyroscope at the tip of as measured in an inertial frame at its tail. Here B ij is the frame-drag field introduced in...
-
In 1999 Pemexthe Mexican state-owned oil companyis rated AA in Mexico for domestic bond issues but constrained in its international financing by Mexicos B country rating. a. What is the highest...
-
The Argentine peso (ARS) is officially trading at ARS 4. 65 = US$1, with increasing volume of forex transactions channeled through the black market at ARS 6 = US$1. Interest rates on bank loans under...
-
It is said that only cash costs are relevant for capital budgeting decision. However, depreciation which is a non-cash cost is a prominent part of cash flow analysis for such an investment decision....
-
In the calculation of bent rays (Sect. 2.2.2) or the massive string above, show that the quantity (z) = r/1 + r (z)2 is constant along the path (or string). From that observation, deduce the solution...
-
The concentration of a toxic chemical in an aquifer is 9. 8 mg/L. This aquifer is being used as the source of drinking water. Assume that the average weight of adult women in the area is 60 kg and...
-
Establish identity. cos( + k) = (-1)k cos , k any integer
-
An adult player in a recreational softball game strikes out. He becomes angry and throws his bat at the catcher, hitting the catcher and fracturing his nose. Do you think that a prosecutor would...
-
Comparative financial statements for Initech Corporation follow: Required: 1. Prepare common size income statements to be used for both vertical and horizontal analysis for 20072009. 2. Using the...
-
The consolidated financial statements for Carmody Shipping Corporation and Subsidiaries appear below and on the following pages. Required: 1. Evaluate Carmody Shippings performance in 2009. 2. What...
-
Scruggs Company reported total assets of $1,400,000 and noncurrent assets of $480,000. The company also reported a current ratio of 3.5. What amount of current liabilities did the company report?
-
The imposition of a ceiling on the length of time a criminal case should take to get to trial is a multifaceted issue, balancing the defendant's right to a timely trial with the complexities of...
-
Discuss three changes written into the Constitution in 1789 that changed the government from what it was under the ArticIes of Confederation?
-
Assume South Park is initially closed to trade. Domestic supply and demand for winter hats is given by the following equations: D = 60 - 4P, S = 2P - 6. a. Suppose South Park opens up to trade and...
Study smarter with the SolutionInn App