Question
In: Accounting
Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per...
Hank Itzek manufactures and sells homemade wine, and he wants to
develop a standard cost per gallon. The following are required for
production of a 50-gallon batch.
| 2,450 ounces of grape concentrate at $0.07 per ounce |
| 54 pounds of granulated sugar at $0.50 per pound |
| 60 lemons at $0.85 each |
| 200 yeast tablets at $0.29 each |
| 250 nutrient tablets at $0.11 each |
| 2,900 ounces of water at $0.005 per ounce |
Hank estimates that 2% of the grape concentrate is wasted, 10% of
the sugar is lost, and 25% of the lemons cannot be used.
Compute the standard cost of the ingredients for one gallon of
wine. (Round intermediate calculations and final answer
to 2 decimal places, e.g. 1.25.)
| Standard Cost Per Gallon | $enter the standard cost per gallon in dollars rounded to 2 decimal places |
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per...
Hank Itzek manufactures and sells homemade wine, and he wants to
develop a standard cost per gallon. The following are required for
production of a 590-gallon batch.
3,300 ounces of grape concentrate at $0.09 per ounce
649 pounds of granulated sugar at $0.47 per pound
1,121 lemons at $0.67 each
1,180 yeast tablets at $0.28 each
590 nutrient tablets at $0.14 each
2,100 ounces of water at $0.005 per ounce
Hank estimates that 5% of the grape concentrate is wasted,...
Wine Glass Inc. produces and sells wine glasses. Per the Standards, for the months of May,...
Wine Glass Inc. produces and sells
wine glasses.
Per the Standards, for the months of
May, each wine glass takes 2 pounds of material at $2.50 per
pound.
For the Month of May, Wine Glass Inc.
planned on producing and selling 200 wine glasses. They actually
produced and sold 210 wine glasses, using 525 pounds of material
costing $1,181.25 in actual total cost.
What is the Materials Activity Variance for the Month of
May:
What is the Materials Spending Variance...
CHOCHITO, S.A homemade sweets factory wants to determine the normal time and standard time for packaging...
CHOCHITO, S.A homemade sweets factory wants to determine the
normal time and standard time for packaging and packaging of its
variety of products. The following table contains the data about a
recent study, regarding the measurement of the elements to be
carried out. A measurement is considered incorrect if it has a
variability greater than +/- 10%, therefore it must be eliminated
from the calculation. Knowing that the company grants its workers
30 minutes for the necessary delay and fatigue:...
Friday Night, Inc. manufactures high-quality 5-liter boxes of wine which it sells for $14 per box....
Friday Night, Inc. manufactures high-quality 5-liter boxes of
wine which it sells for $14 per box. Below is some information
related to Friday Night's capacity and budgeted fixed manufacturing
costs for 2019:
Budgeted Fixed
Days of
Hours of
Denominator-Level
Manufacturing
Production
Production
Boxes
Capacity Concept
Overhead per Period
per Period
per Day
per Hour
Theoretical capacity
$2,500,000
362
22
300
Practical capacity
$2,500,000
310
16
250
Normal capacity
$2,500,000
310
16
175
Master budget capacity
$2,500,000
310
16
200
Production...
A firm manufactures a product that sells for $12 per unit. Variable cost per unit is $9 and fixed cost per period is $1680.
A firm manufactures a product that sells for $12 per unit. Variable cost per unit is $9 and fixed cost per period is $1680.Capacity per period is 1800 units.(a) Develop an algebraic statement for the revenue function and
the cost function.(b) Determine the number of units required to be sold to break
even.(c) Compute the break-even point as a percent of capacity.(d) Compute the break-even point in sales dollars.(a) The revenue function isTR=nothing.
Buil Corporation manufactures a single product. The standard cost per unit of the product is as...
Buil Corporation manufactures a single product. The standard
cost per unit of the product is as follows.
Direct materials—2 pounds of plastic at $6 per pound $12
Direct labour—2 hours at $13 per hour 26
Variable manufacturing overhead 7
Fixed manufacturing overhead 5
______
Total standard cost per unit $50
The master manufacturing overhead budget for the month based on
the normal productive capacity of 20,000 direct labour hours
(10,000 units) shows total variable costs of $70,000 ($3.50 per
labour...
A company manufactures and sells x television sets per month. The monthly cost equation is?(?)=??,???+???and the...
A company manufactures and sells x television sets per month.
The monthly cost equation is?(?)=??,???+???and the monthly
demand−price equation is ?=???−???Use thisinformation to
answerquestions below.
1.a.What is the maximum monthly revenue?
b.What price should the company charge for each television
set?
2.a.How many television sets should be produced to realize the
maximum monthly profit?
b.What is the maximum monthly profit
Inman Corporation manufactures a single product. The standard cost per unit of product is as follows:...
Inman Corporation manufactures a single product. The standard
cost per unit of product is as follows:
Direct materials—2 kg of plastic at $5.50 per kilogram
$11.00
Direct labour—2 hours at $11.35 per hour
22.70
Variable manufacturing overhead
9.80
Fixed manufacturing overhead
5.30
Total standard cost per unit
$48.80
The master manufacturing overhead budget for the month based on the
normal productive capacity of 20,800 direct labour hours (10,400
units) shows total variable costs of $104,000 ($5 per labour hour)
and...
4) A company manufactures and sells x lime scooters sets per month. The monthly cost and...
4) A company manufactures and sells x lime scooters sets per
month. The monthly cost and price-demand equations are
Cx=16,000+75x
p(x)=200-x/30 0≤x≤3,000
a) Find the maximum monthly
revenue.
b) Find the maximum profit, the
production level that will realize the maximum profit, and the
price the company should charge for each scooter.
c) If the local government decides to subsidize the company $5
for each scooter it produces, how many scooters should the company
manufacture each month to maximize its...
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are...
A company manufactures and sells x cellphones per week. The
weekly price-demand and cost equations are given below.
p=400-.05x and C(x)=20,000 + 135x
A) What price should the company charge for the phones, and how
many phones should be produced to maximize the weekly revenue?
What is the maximum weekly revenue? The company should produce ?
phones each week at a price of $ ?. (Round to the nearest cent
as needed.) The maximum weekly revenue is $ ? (Round...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Define “culture.” Software is defined by the Merriam-Webster Dictionary as "the programs that run on a...
- In humans, hypotrichosis (sparse body hair) is a rare autosomal recessive condition. Let h = hypotrichosis...
- Increase all of the listing prices by 5% for all listings under $500,000 and 10% for...
- Samsung Industry that requires you to act as a change agent to form an organizational change...
- Use fork() Create a program that reads characters from an input file. Use fork to create...
- A pension fund manager is considering three mutual funds. The first is a stock fund, the...
- Compute the cost of not taking the following cash discounts. (Use a 360-day year. Do not...
ADVERTISEMENT