Agnessa Premium Chocolate Ltd. produces specialty chocolate confections in England. The owner of the company is setting up a standard costing system; the following data are for one of the company’s products, the Truffle Supreme, made with the finest white
Homework Answers
| Req 1. | ||||||
| Standard Price per Kilogram: | ||||||
| The purchase price per kilogram | 9.00 | |||||
| Less: Purchase discount @ 5% | 0.45 | |||||
| Net Purchase price | 8.55 | |||||
| Add: Friehg in cost per kilogram | 0.20 | |||||
| Add: Material handling cost per kilogram | 0.05 | |||||
| Standard Price per Kilogram: | 8.80 | |||||
| Req 2. | ||||||
| Standard Qty allowed for a Dozen truffle: | ||||||
| Material required per dozen truffle | 0.8 | kilograms | ||||
| Add: Allowance for Waste | 0.02 | kilograms | ||||
| Add: Allowance for rejection | 0.03 | kilograms | ||||
| Standard Qty allowed for a Dozen truffle: | 0.85 | kilograms | ||||
| Req 3. | ||||||
| Std qty allowed for a dozen truffle | 0.85 | Kilograms | ||||
| Multiply: Std price per kilogram | 8.80 | |||||
| Std Cost of White chocloate per dozen truffle | 7.48 | |||||
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Agnessa Premium Chocolate Ltd. produces specialty chocolate confections in England. The owner of the company is setting up a standard costing system; the following data are for one of the company’s products, the Truffle Supreme, made with the finest white
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ALWAYS THUMBS UP THANKS
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A company produces three products: Institutional, Standard, and
Silver. The company used a Traditional Costing System with a
predetermined overhead rate of $9 per unit produced based on an
estimated $945,000 total overhead and estimated 105,000 units to be
produced between all three products. The company uses
six overhead activities for which budgeted information is provided
below:
The company uses six overhead activities for which budgeted information is provided below: Activity Processing Set Up Handling Machine Depreciation Quality Control Packing...
Houston Company produces two products. Standard and Jumbo, and currently uses a costing system that accumulates all overhead costs in a single cost pool and assigns it to products based on direct labor dollars. After completing a study that showed overhead costs were driven by factors other than volume, Houston's management has decided to implement an activity based costing (ABC) system. The study showed that manufacturing overhead costs could be associated with three activities: (1) purchasing. (2) receiving, and (3)...
I
ALWAYS THUMBS UP THANKS
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