) Raw materials are studied for contamination. Suppose that the number of particles of contamination per...
Homework Answers
a. Given that 0.014 particles per pound.
(0.014/0.014)*5 particles per (1/0.014)*5 pound.
5 particles per 357.1429 pounds.
Ans : 357.1429 pounds.
b. standard deviation of the pounds of materials =sqrt(5/0.014^2) =159.7191
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) Raw materials are studied for contamination. Suppose that
the number of particles of contamination per...
Raw materials are studied for contamination. Suppose that the number of particles of contamination per pound...
Raw materials are studied for contamination. Suppose that the number of particles of contamination per pound of material is a Poisson random variable with a mean of 8 particle per pound. A) What is the expected number of pounds of material required to obtain 5 particles of contamination? B) What is the standard deviation of the pounds of materials required to obtain 5 particles of contamination?
Alpha Company purchased, on account, 3,500 pounds of raw materials at $10 per pound on January...
Alpha Company purchased, on account, 3,500 pounds of raw materials at $10 per pound on January 2, 2017. The production manager requisitioned and received 2,500 pounds of raw material into production on January 15. Use this information to prepare the General Journal entries (without explanation) for January 2 and January 15. If no entry is required then write "No Entry Required."
Alaska Corporation purchased, on account, 6,600 pounds of raw materials at $7.50 per pound on January...
Alaska Corporation purchased, on account, 6,600 pounds of raw materials at $7.50 per pound on January 2, 2019. The production manager requisitioned and received 2,350 pounds of raw material into production on January 15. Use this information to prepare the General Journal entries (without explanation) for January 2 and January 15. If no entry is required then write "No Entry Required."
Brief Exercise 23-2 Tang Company accumulates the following data concerning raw materials in making its finished...
Brief Exercise 23-2
Tang Company accumulates the following data concerning raw
materials in making its finished product: (1) Price per pound of
raw materials—net purchase price $2.92, freight-in $0.38, and
receiving and handling $0.24. (2) Quantity per gallon of finished
product—required materials 3.21 pounds, allowance for waste and
spoilage 0.90 pounds.
Compute the following. (Round answers to 2 decimal
places, e.g. 1.25.)
(a)
Standard direct materials price per pound of raw
materials.
$
(b)
Standard direct materials quantity per gallon....
The standard and actual prices per pound of raw material are $4.00 and $4.50, respectively. A...
The standard and actual prices per pound of raw material are $4.00 and $4.50, respectively. A total of 10,500 pounds of raw material was purchased and then used to produce 5,000 units. The quantity standard allows 2 pounds of the raw material per unit produced. What is the materials price variance? Give equation used as well.
Suppose that the number of asbestos particles in a sample of 1 squared centimeter of dust...
Suppose that the number of asbestos particles in a sample of 1 squared centimeter of dust is a Poisson random variable with a mean of 1000. What is the probability that 10 squared centimeters of dust contains more than 10030 particles? Use normal approximation without continuity correction. Round your answer to 3 decimal places
1. What raw materials cost would be included in the company’s planning budget for March? 13. What variable manufacturin...
1. What raw materials cost would be included in the company’s
planning budget for March?
13. What variable manufacturing overhead cost would be included
in the company’s flexible budget for Marc
14. What is the variable overhead rate variance for March?
(Round the actual overhead rate to two decimal places.
Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance.). Input all amounts as positive
values.)
15. What...
Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price...
Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials-net purchase price $2.59, freight-in $0.52, and receiving and handling $0.39. (2) Quantity per gallon of finished product-required materials 3.34 pounds, allowance for waste and spoilage 0.70 pounds Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per pound of raw materials (b) Standard direct materials quantity per gallon. c) Total standard materials...
12. What contribution margin per pound of raw material is earned by each of the two...
12. What contribution margin per pound of raw material is earned
by each of the two products?
Contribution margin per pound: Alpha Beta
13. Assume that Cane's customers would buy a maximum of 97,000
units of Alpha and 77,000 units of Beta. Also assume that the
company's raw material available for production is limited to
247,000 pounds. How many units of each product should Cane produce
to maximize its profits?
Units produced: Alpha Beta
14. Assume that Cane's customers would...
San Diego Sheet Metal, Inc. incurs a variable cost of $40 per pound for raw material...
San Diego Sheet Metal, Inc. incurs a variable cost of $40 per pound
for raw material to produce a special alloy used in manufacturing
aircraft.
Required:
In the table below, show the unit cost and total cost of raw
material at the following production levels: 1 pound, 10 pounds,
and 1,000 pounds.
Production Level in pounds Unit Cost Total Cost per pound per pound per pound 1,000
Raw materials are studied for contamination. Suppose that the number of particles of contamination per pound of material is a Poisson random variable with a mean of 8 particle per pound. A) What is the expected number of pounds of material required to obtain 5 particles of contamination? B) What is the standard deviation of the pounds of materials required to obtain 5 particles of contamination?
Brief Exercise 23-2
Tang Company accumulates the following data concerning raw
materials in making its finished product: (1) Price per pound of
raw materials—net purchase price $2.92, freight-in $0.38, and
receiving and handling $0.24. (2) Quantity per gallon of finished
product—required materials 3.21 pounds, allowance for waste and
spoilage 0.90 pounds.
Compute the following. (Round answers to 2 decimal
places, e.g. 1.25.)
(a)
Standard direct materials price per pound of raw
materials.
$
(b)
Standard direct materials quantity per gallon....
Suppose that the number of asbestos particles in a sample of 1 squared centimeter of dust is a Poisson random variable with a mean of 1000. What is the probability that 10 squared centimeters of dust contains more than 10030 particles? Use normal approximation without continuity correction. Round your answer to 3 decimal places
1. What raw materials cost would be included in the company’s
planning budget for March?
13. What variable manufacturing overhead cost would be included
in the company’s flexible budget for Marc
14. What is the variable overhead rate variance for March?
(Round the actual overhead rate to two decimal places.
Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance.). Input all amounts as positive
values.)
15. What...
Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw materials-net purchase price $2.59, freight-in $0.52, and receiving and handling $0.39. (2) Quantity per gallon of finished product-required materials 3.34 pounds, allowance for waste and spoilage 0.70 pounds Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per pound of raw materials (b) Standard direct materials quantity per gallon. c) Total standard materials...
12. What contribution margin per pound of raw material is earned
by each of the two products?
Contribution margin per pound: Alpha Beta
13. Assume that Cane's customers would buy a maximum of 97,000
units of Alpha and 77,000 units of Beta. Also assume that the
company's raw material available for production is limited to
247,000 pounds. How many units of each product should Cane produce
to maximize its profits?
Units produced: Alpha Beta
14. Assume that Cane's customers would...
San Diego Sheet Metal, Inc. incurs a variable cost of $40 per pound
for raw material to produce a special alloy used in manufacturing
aircraft.
Required:
In the table below, show the unit cost and total cost of raw
material at the following production levels: 1 pound, 10 pounds,
and 1,000 pounds.
Production Level in pounds Unit Cost Total Cost per pound per pound per pound 1,000
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