Chypre, Ic., produces a cologne mist using a solvent mix (water and pure alcohol) and aro- matic compounds (the scent base) that it sells to other companies for bottling and sale to con- sumers. Chypre developed the following standard cost sheet: Direct Material Mix Proportion SP Mix Standard Cost Solvent mix 760 gallons 0.95 5.27 S 4,005.20 Aromatic compounds Total 40 0.05 8,000.00 320,000.00 800 gallons 720 gallons S324,005.20 Yield On May 2, Chypre produced a batch of 1,000 gallons with the following actual results: Direct Material Actual Mix Solvent mix 945 gallons Aromatic compounds 55 1,000 gallons 880 gallons Total Yield Required: 1. Calculate the yield ratio. 2. Caleulate the standard cost per unit of the yield. (Round to the nearest cent.) 3. Calculate the direct materials yield variance. (Round to the nearest cent.) 4. Calculate the direct materials mix variance. (Round to the nearest cent.)
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- Chypre, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet: Direct Material Mix Mix Proportion SP Standard Cost Solvent mix 855 gallons 0.95 $5.55 $4745.25 Aromatic compounds 45 0.05 8080.00 363600.00 Total 900 gallons $368,345.25 Yield 828 gallons On May 2, Chypre produced a batch of 1,150 gallons with the following actual results: Direct Material Actual Mix Solvent mix 1,086.75 gallons Aromatic compounds 63.25 Total 1,150 gallons Yield 1,015 gallons Required: Instructions for parts 3 and 4: If a variance is zero, enter "0" and select "Not applicable" from the drop down box. 1. Calculate the yield ratio. If required, round your answer to two decimal places.fill in the blank 1 2. Calculate the standard cost per unit of the yield. If required,…Snapware Systems produces commercial strength cleansing supplies. Two of its main products are window cleaner that uses ammonia, and floor cleaner that uses bleach. Information for the most recent period follows: Product Names Window Cleaner (ammonia) Floor Cleaner (bleach) Direct materials information: Standard ounces per unit 16 oz. 24 oz. Standard price per ounce $0.75 ? Actual quantity used per unit 20 oz. 22 oz. Actual price paid for material $1.00 $0.90 Actual quantity purchased and used 1,500 oz. 2,800 oz.. Price variance ? $300 U Quantity variance $1,500 U ? Total direct materials variance ? $678 F Number of units produced 500 600 What is the standard price for bleach? Select one: a. $0.88/oz. b. $1.09/oz. c. $1.14/oz. d. $0.79/oz. e. $0.92/oz.Fresh Company produces a well-known perfume. The standard manufacturing cost of theperfume is described by the following standard cost sheet:Direct materials:Liquids (5 oz. @ $ 0.25) $1.25Bottles (1 @ RM 0.05) $ 0.05Direct Labor (0.25 @ $13.00) $ 3.25Variable overhead (0.25 @ $ 5) $1.25Fixed overhead (0.25 @ $10.00) $ 2.50Standard cost per unit $ 8.30Management has decided to investigate only those variances that exceed the lesser of 10% ofthe standard cost for each category or $22,000. During the past quarter, a total of 300,000four-ounce bottles of perfume was produced. Descriptions of actual activity for the quarter follow:a. A total of 1.2 million ounces of liquids was purchased, mixed, and processed. The pricepaid per ounce averaged $0.27b. Exactly 280,000 bottles were used. The price paid for each bottle was $ 0.055.c. Direct labor hours totaled 50,000 with a total cost of $ 650,000d. Variable overhead cost totaled $ 242,000e. Fixed overhead cost was $ 600,000Normal production…
- Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard quantity or hours of direct materials: 7.40 pounds, standard price or rate of direct materials is 2.60 per pound. Standard cost of direct materials is 19.24. Standard quality or hours of direct labor is 0.45. Standard price or rate of direct labor is 8.00 per pound. Standard cost is 3.60. During the most recent month, the following activity was recorded: 12,100 pounds of material were purchased at a cost of 2.50 per pound. All of the material purchased was used to produce 1,500 units of the product. 575 hours of direct labor time were recorded at a total labor cost of 5,750. Compute the materials price variance and the materials quantity variance for the month. Complete the labor rate variance and efficiency variance for the month.Chypre, Inc., produces a cologne mist using a solvent mix (water and pure alcohol) and aromatic compounds (the scent base) that it sells to other companies for bottling and sale to consumers. Chypre developed the following standard cost sheet: On May 2, Chypre produced a batch of 1,000 gallons with the following actual results: Required: 1. Calculate the yield ratio. 2. Calculate the standard cost per unit of the yield. (Round to the nearest cent.) 3. Calculate the direct materials yield variance. (Round to the nearest cent.) 4. Calculate the direct materials mix variance. (Round to the nearest cent.)College Life produces sweatshirts for college organizations and uses hybrid costing. It reports the following for its fabrication process. Customers choose screen-printed or embroidered logos. Direct materials Conversion Fabrication process costs Customer choices-Logo types Screen-printed Embroidered Required: a. Compute the cost per unit for both the screen-printed and embroidered sweatshirts. b. If the company has a target markup of 30% above cost, compute the selling price for each type of sweatshirt. c. For the current period, the company added direct materials into production that should have produced 5,700 sweatshirts. Actual production was 5,415 (nondefective) sweatshirts. Compute the yield for this period. Express the answer in percent. Required 1 Required 2 Required 3 Per Unit $ 26 13 Complete this question by entering your answers in the tabs below. $39 $ 6 $ 12 Yield For the current period, the company added direct materials into production that should have produced 5,700…
- College Life produces sweatshirts for college organizations and uses hybrid costing. It reports the following for its fabrication process. Customers choose screen-printed or embroidered logos. Direct materials Conversion Fabrication process costs Customer choices-Logo types Screen-printed Embroidered Required: a. Compute the cost per unit for both the screen-printed and embroidered sweatshirts. b. If the company has a target markup of 30% above cost, compute the selling price for each type of sweatshirt. c. For the current period, the company added direct materials into production that should have produced 6,700 sweatshirts. Actual production was 6,499 (nondefective) sweatshirts. Compute the yield for this period. Express the answer in percent. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Per Unit $ 46 23 $ 69 $ 6 $ 20 Compute the cost per unit for both the screen-printed and embroidered sweatshirts. Cost per unit $121.00 x $…Johnston Adhesives Company makes three widely used industrial adhesives: A101, A204, and B216. Sales and production information for each of the three adhesives are shown in the following table. Most of Johnston’s customers ask for a special blend of the three products, which improves heat-resistance. The additional separable processing requires additional time and materials, and the price is increased accordingly, as shown in the table. Assume that Johnston produces only for specific customer orders, so there is no beginning or ending inventory. Assume also that all of Johnston’s customers requested the heat-resistant version of the products so that all production required additional separable processing. Total joint cost for the three products is $3,411,000. A101 A204 B216 Gallons sold 240,000 240,000 178,000 Final sales price per gallon $ 13 $ 6 $ 11 Price at split-off 10 3 7 Separable processing cost $ 563,000 $ 81,000 $ 623,000 Calculate the unit product cost…Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Raw Material Product Alpha6 Zeta7 Material X442 Y661 Y661 X442 3.0 kilos 3.0 liters 5.0 kilos 5.0 liters Sintering 0.30 hours 1.10 hours 0.40 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchases 15,300 kilos 16,300 liters Purchase Cost $ 44,370 Standard Price $ 2.70 per kilo Used in Production 9,800 kilos 14,300 liters $ 26,080 $ 1.70 per liter The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in Finishing. c. During May, 1,320 direct labor-hours were worked in Sintering at a…
- Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Standard Price or Hours, 2.10 ounces 0.40 hours 0.40 hours Rate $24.00 per ounce $ 14.00 per hour $ 2.50 per hour Standard Cost $50.40 Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit During November, the following activity was recorded related to the production of Fludex: 5.60 1.00 $ 57.00 a. Materials purchased, 11,500 ounces at a cost of $259,325. b. There was no beginning inventory of materials; however, at the end of the month, 2,700 ounces of material remained in ending inventory. c. The company employs 23 lab technicians to work on the production of Fludex. During November, they each worked an average of 100 hours at an average pay rate of $11.00 per hour. d. Variable manufacturing…Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Cost Activity Washing, Pressing & Filtering (WPF) Bottling $ 1,550,150 $ 453,000 Additional information about each grade of olive oil is as follows: Direct Materials Costs Grade Standard Extra Virgin Sales Revenue $ 5,105,000 $ 2,150,000 Required 1 $ 900,000 $ 600,000 Required: 1. Calculate the activity rate for each activity pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Required 2 Required 3 Cost Driver Washing, Pressing, and Filtering hours Number of bottles. Complete this question by entering your answers in the tabs below. Direct Labor Costs $ 375,000 $ 150,000 Required 4 Standard 45,200…Healthfirst (HF) Ltd has recently started to produce a face shield and product's standard cost data are as follows: Cost per unit Direct materials Perspex (0.5 meters @ $15 per meter) $ 7.50 Direct materials Hardened Plastic (0.25 meters at $20.00 per meter) 5.00 Direct manufacturing labour (0.5 hr @ $30.00 per hr) Manufacturing overhead Total Cost 15.00 Required Should HF accept the offer. Show all computations. 30.00 $57.50 Additional information 45% of the Manufacturing overhead changes with the number of units produced. Additionally, if production of face shields is discontinued, 20% of the remaining fixed cost will be avoided. The budgeted production used to compute overheads is 10,000 units per quarter. HF has been approached by another company who is willing to supply the face shields at $50. Per unit. The space used to manufacture face shields can be used to Generate $ 120,000 in contribution margin per quarter.