Question

Crede Manufacturing Company uses a standard cost accounting system. In 2020, 28,000 units were produced. Each...

Crede Manufacturing Company uses a standard cost accounting system. In 2020, 28,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $15. Normal capacity was 48,500 direct labour hours. During the year, 117,600 kg of raw materials were purchased at $0.95 per kilogram. All materials purchased were used during the year.

1. If the materials quantity variance was $5,600 unfavourable, what was the standard materials quantity per unit?

2.What were the standard hours allowed for the units produced?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Since standard price of material is not given. It is assumed that standard price = Actual price.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ABC Manufacturing Company uses a standard cost accounting system. In 2020, 28,000 units were produced. Each...
ABC Manufacturing Company uses a standard cost accounting system. In 2020, 28,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9. Normal capacity was 50,700 direct labour hours. During the year, 109,200 kg of raw materials were purchased at $0.92 per kilogram. All materials purchased were used during the year. If the labour price variance was $13,665 favourable, what was the actual rate per...
1.) the actual cost of direct materials is $51.30 per kilogram. the standard cost per kilogram...
1.) the actual cost of direct materials is $51.30 per kilogram. the standard cost per kilogram is $55.00. during the current period, 7240 kilograms were purchased and used in production. the standard quantity for actual units produced is 7,000 kilograms. how much is the direct materials price variance? 2.) Vonnie's bakery manufactures a specialty cake that is very popular with the local residents. for may, vonnie's bakery budgeted 800 direct labour hours to produce 400 cakes. in may, Vonnie's bakery...
Problem 23-4A (Part Level Submission) Kansas Company uses a standard cost accounting system. In 2017, the...
Problem 23-4A (Part Level Submission) Kansas Company uses a standard cost accounting system. In 2017, the company produced 27,700 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,400 direct labor hours. During the year, 131,500 pounds of raw materials were purchased at $0.93 per pound. All materials purchased were used during the year. Collapse question part (a) Correct answer. Your answer is...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (All materials purchased were used.): Standard cost: $6.00 per kilogram of clay. Total actual cost: $11,200. Standard cost allowed for units produced was $12,000. Materials efficiency variance was $240 unfavourable. Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour. Actual cost per hour was $24.50. Actual labour was 972 hours. What is the standard direct material...
The following is information related to X Company, a company that uses a standard cost system:...
The following is information related to X Company, a company that uses a standard cost system: Standard cost card for 1 unit of Product A: Direct materials – Raw Material A (1 kilogram @ $ 20/kg.) $ 20 Direct materials – Raw Material B (1 kilogram @$ 10/kg.) $ 10 Direct labour (1 hour @ $15/hr.) $ 15 V ariable overhead (1 hour @ $ 5/hr.) $ 5 Fixed overhead (1 hour @ $ 10/hr.) $ 10 Total budgeted fixed...
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg...
Jay Levitt Company budgeted the following cost standards for the current year: Direct materials (2 kg of plastic at $5 per kilogram) $10.00 Direct labour (2 hours at $12 per hour) 24.00 Variable manufacturing overhead 11.85 Fixed manufacturing overhead 6.15 Total standard cost per unit $52.00 Actual costs for producing 2,690 units were as follows: Direct materials used 5,920 kg Direct materials purchased (6,730 kg) $32,304 Direct labour (6,950 hours) $67,415 Variable manufacturing costs $32,200 Fixed manufacturing costs $17,700 1....
Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction...
Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction with its process cost system. The per-unit standard costs for direct materials and direct labor for its single product are as follows: Materials: (4.0 kilograms × $10.00 per kilogram) $ 40.00 Labor: (4.0 hours × $18.00 per hour) $ 72.00 All materials are issued at the beginning of processing. The operating data shown below were taken from the records for July: In-process beginning inventory...
Pyre Mills, Inc. is a large producer of men’s and women’s clothing. The company uses a...
Pyre Mills, Inc. is a large producer of men’s and women’s clothing. The company uses a standard costing system. The standard costs and actual costs per unit for one of the company’s products are as follows: Direct material: Standard: 4.0 metres at $5.40 per metre Actual: 4.4 metres at $5.05 per metre Direct Labour: Standard: 1.6 hours at $6.75 per hour Actual: 1.4 hours at $7.30 per hour During this period, the company produced 4,800 units of the product. At...
Jackson Industries uses a standard cost system in which direct materials inventory is carried at standard...
Jackson Industries uses a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for one unit of product.    Standard Quantity Standard Price or Rate Direct materials 5 pounds $3.60 per pound Direct labor 1.25 hours $12.00 per hour During May, Jackson purchased 125,000 pounds of direct material at a total cost of $475,000. The total factory wages for direct labor, for May were $327,600. Jackson manufactured 22,000 units of...
Shade Company adopted a standard cost system several years ago. The standard costs for direct labor...
Shade Company adopted a standard cost system several years ago. The standard costs for direct labor and direct materials for its single product are as follows: Materials (5 kilograms × $12/kilogram) = $60/unit; direct labor (3.5 hours/unit × $20/hour) = $70/unit. All materials are issued at the beginning of processing. The operating data shown below were taken from the records for December: In-process beginning inventory None In-process ending inventory—80% complete as to labor 1,030 units Units completed during the period...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT