Cia Industrial LA LNEA, S.A. has established a standard cost system and for the following financial...
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Cia Industrial LA LÍNEA, S.A. has established a standard cost system and for the following financial year it has the following default information for the production of its only item called "IMPOSITION", a).- Planned units: 30,000 "Impositions" with the following costs: Concept Raw Material Manpower Indirect Charges Variables Fixed Indirect Charges b).- Technical report: All! direct raw material direct labor c).- The Production Department measures its capacity based on man hours. REAL OPERATIONS: 1.- From direct raw material: Invent it initial: Final inventory: Net Purchases: Valuation Method. 2.- Direct labor: 3.- Indirect charges: 4.- Of the cost of Operation: Sales It is requested: 1 1/2 kilos 2 man hours. 10,000 kilos is $11.11. 10,500 kilos 45,000 kilos with a total amount of $540,000 + VAT PEPS 58,200 hours were paid at a cost of $619,830 Variables: $ 439 410 Fixed: $389,940 $ Administrations 1032,600 5.- From sales: 26,500 units at a sale price of $200.00 + VAT each 6.- From the production report: Units completed: 20,000 Units in process: 767.400 NEGRO $ 553,500 $ 618,000 $ 456,000 1.- Prepare the Standard Cost Sheet, 2.- Record the operations with the Real-Standard method, 3.- Determine and Analyze the deviations by element and global, 4.- Prepare the State of Cost of Production and what is sold, 5.- Prepare the income statement. $ 400,500 2028 000 2,000 with advance of: raw material 80% and cost of conversion 60% Cia Industrial LA LÍNEA, S.A. has established a standard cost system and for the following financial year it has the following default information for the production of its only item called "IMPOSITION", a).- Planned units: 30,000 "Impositions" with the following costs: Concept Raw Material Manpower Indirect Charges Variables Fixed Indirect Charges b).- Technical report: All! direct raw material direct labor c).- The Production Department measures its capacity based on man hours. REAL OPERATIONS: 1.- From direct raw material: Invent it initial: Final inventory: Net Purchases: Valuation Method. 2.- Direct labor: 3.- Indirect charges: 4.- Of the cost of Operation: Sales It is requested: 1 1/2 kilos 2 man hours. 10,000 kilos is $11.11. 10,500 kilos 45,000 kilos with a total amount of $540,000 + VAT PEPS 58,200 hours were paid at a cost of $619,830 Variables: $ 439 410 Fixed: $389,940 $ Administrations 1032,600 5.- From sales: 26,500 units at a sale price of $200.00 + VAT each 6.- From the production report: Units completed: 20,000 Units in process: 767.400 NEGRO $ 553,500 $ 618,000 $ 456,000 1.- Prepare the Standard Cost Sheet, 2.- Record the operations with the Real-Standard method, 3.- Determine and Analyze the deviations by element and global, 4.- Prepare the State of Cost of Production and what is sold, 5.- Prepare the income statement. $ 400,500 2028 000 2,000 with advance of: raw material 80% and cost of conversion 60% 1-Prepare the cost standar sheet 2-Record the operations with the Real-Standar method 3-Determine and analyze the deviations by element and global 4-Prepare the income statement Cia Industrial LA LÍNEA, S.A. has established a standard cost system and for the following financial year it has the following default information for the production of its only item called "IMPOSITION", a).- Planned units: 30,000 "Impositions" with the following costs: Concept Raw Material Manpower Indirect Charges Variables Fixed Indirect Charges b).- Technical report: All! direct raw material direct labor c).- The Production Department measures its capacity based on man hours. REAL OPERATIONS: 1.- From direct raw material: Invent it initial: Final inventory: Net Purchases: Valuation Method. 2.- Direct labor: 3.- Indirect charges: 4.- Of the cost of Operation: Sales It is requested: 1 1/2 kilos 2 man hours. 10,000 kilos is $11.11. 10,500 kilos 45,000 kilos with a total amount of $540,000 + VAT PEPS 58,200 hours were paid at a cost of $619,830 Variables: $ 439 410 Fixed: $389,940 $ Administrations 1032,600 5.- From sales: 26,500 units at a sale price of $200.00 + VAT each 6.- From the production report: Units completed: 20,000 Units in process: 767.400 NEGRO $ 553,500 $ 618,000 $ 456,000 1.- Prepare the Standard Cost Sheet, 2.- Record the operations with the Real-Standard method, 3.- Determine and Analyze the deviations by element and global, 4.- Prepare the State of Cost of Production and what is sold, 5.- Prepare the income statement. $ 400,500 2028 000 2,000 with advance of: raw material 80% and cost of conversion 60% Cia Industrial LA LÍNEA, S.A. has established a standard cost system and for the following financial year it has the following default information for the production of its only item called "IMPOSITION", a).- Planned units: 30,000 "Impositions" with the following costs: Concept Raw Material Manpower Indirect Charges Variables Fixed Indirect Charges b).- Technical report: All! direct raw material direct labor c).- The Production Department measures its capacity based on man hours. REAL OPERATIONS: 1.- From direct raw material: Invent it initial: Final inventory: Net Purchases: Valuation Method. 2.- Direct labor: 3.- Indirect charges: 4.- Of the cost of Operation: Sales It is requested: 1 1/2 kilos 2 man hours. 10,000 kilos is $11.11. 10,500 kilos 45,000 kilos with a total amount of $540,000 + VAT PEPS 58,200 hours were paid at a cost of $619,830 Variables: $ 439 410 Fixed: $389,940 $ Administrations 1032,600 5.- From sales: 26,500 units at a sale price of $200.00 + VAT each 6.- From the production report: Units completed: 20,000 Units in process: 767.400 NEGRO $ 553,500 $ 618,000 $ 456,000 1.- Prepare the Standard Cost Sheet, 2.- Record the operations with the Real-Standard method, 3.- Determine and Analyze the deviations by element and global, 4.- Prepare the State of Cost of Production and what is sold, 5.- Prepare the income statement. $ 400,500 2028 000 2,000 with advance of: raw material 80% and cost of conversion 60% 1-Prepare the cost standar sheet 2-Record the operations with the Real-Standar method 3-Determine and analyze the deviations by element and global 4-Prepare the income statement
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To complete the tasks requested you will need to follow the steps outlined below Prepare the Standard Cost Sheet Calculate the standard cost per unit ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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