Question: Hello! Please help me answer my homework from nos. 1-3 only :) I answered the rest already so thank you so much to the person

Hello! Please help me answer my homework from nos. 1-3 only :) I answered the rest already so thank you so much to the person who can answer this <3

PLEASE SHOW YOUR SOLUTION. Thank you so much again!!!

1. Harnish Corporation is developing standards for its products. One product requires an input that is purchased for $55.00 per kilogram from the supplier. By paying cash, the company gets a discount of 8% off this purchase price. Shipping costs from the supplier's warehouse amount to $5.17 per kilogram. Receiving costs are $0.28 per kilogram. Each unit of output of the product requires 0.75 kilogram of this input. The allowance for waste and spoilage is 0.04 kilogram of this input for each unit of output. The allowance for rejects is 0.11 kilogram of this input for each unit of output.

The standard price per kilogram of this input should be: A. $55.00 B. $56.05 C. $53.95 D. $64.85

Standard Price Purchase Price............................................................. $55.00 Less: Cash Discount...................................................... (4.40) Shipping costs from the supplier's warehouse..... 5.17 Receiving costs.............................................................. 0.28 ____________ Standard price per kilogram................................... $56.05

The standard quantity in kilograms of this input per unit of output should be: A. 0.75 B. 0.71 C. 0.90 D. 0.60

2-3. Schoenfeld Corporation is developing direct labor standards. The basic direct labor wage rate is $10.00 per hour. Employment taxes are 9% of the basic wage rate. Fringe benefits are $3.71 per direct labor-hour. A particular product requires 0.88 direct labor-hours per unit. The allowance for breaks and personal needs is 0.06 direct labor-hours per unit. The allowance for cleanup, machine downtime, and rejects is 0.09 direct labor-hours per unit.

2. The standard rate per direct labor-hour should be: A. $4.61 B. $10.00 C. $5.39 D. $14.61

3. The standard direct labor-hours per unit should be: A. 0.88 B. 1.03 C. 0.73 D. 0.82

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!