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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 3 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,...
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Wine Glass Inc. produces and sells
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Per the Standards, for the months of
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pound.
For the Month of May, Wine Glass Inc.
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What is the Materials Activity Variance for the Month of
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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
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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
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16
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Normal capacity
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A firm manufactures a product that sells for $12 per unit. Variable cost per unit is $9 and fixed cost per period is $1680.
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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
______
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The master manufacturing overhead budget for the month based on
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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
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22.70
Variable manufacturing overhead
9.80
Fixed manufacturing overhead
5.30
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a) Find the maximum monthly
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b) Find the maximum profit, the
production level that will realize the maximum profit, and the
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c) If the local government decides to subsidize the company $5
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A) What price should the company charge for the phones, and how
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