Question

In: Accounting

We are analyzing 2 products – product Hamburgers(HB)and Double Deckers(DD) Product HB requires 1 Patty (P)...

  1. We are analyzing 2 products – product Hamburgers(HB)and Double Deckers(DD)
    • Product HB requires 1 Patty (P) and 2 Buns (B)
    • Product DDs requires 2 Patties (P) and 3 Buns B)
    • The standard cost for P is $1 per unit.
    • The standard cost for B is $0.50 per unit.
    • During this month, the company purchased 5,000 Ps for $4,950 (there was no beginning balance).
    • During this month, the company purchased 5,000 units of Bs for $2,600. (there was no beginning balance).
    • During the month the company produced 500 HBs and 1000 DDs.
    • During the month the company used 2520 units of Ps and 3975 units of Bs.
    • Payroll was $315, with 16 hours (this is actual - direct labor only).
    • Each burger requires 1/100 of an hour for Direct Labor
    • Labor standard cost is $20 per hour.

hint: for production of both HB and DDs

Compute the price and quantity variances for direct materials and direct labor for HB and DDs

Solutions

Expert Solution

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

We are analyzing 2 products – product Hamburgers(HB)and Double Deckers(DD) Product HB requires 1 Patty (P)...
We are analyzing 2 products – product Hamburgers(HB)and Double Deckers(DD) Product HB requires 1 Patty (P) and 2 Buns (B) Product Y requires 2 Patties (P) and 3 Buns B) The standard cost for P is $1 per unit. The standard cost for B is $0.50 per unit. During this month, the company purchased 5,000 Ps for $4,950 (there was no beginning balance). During this month, the company purchased 5,000 units of Bs for $2,600. (there was no beginning balance)....
Problem 1: We are analyzing 2 products – product X and product Y. Product X requires...
Problem 1: We are analyzing 2 products – product X and product Y. Product X requires 4 Part As and 3Part B’s. Product Y requires 3 Part A’s and 2 Part B’s. The standard cost for Part A is $24 per unit. The standard cost for Part B is $12 per unit. During this month, the company purchased 50,000 units of Part A for $1,220,000 (there was no beginning balance). During this month, the company purchased 50,000 units of Part...
We are analyzing 2 products – product X and product Y. Product X requires 3 Part...
We are analyzing 2 products – product X and product Y. Product X requires 3 Part As and 4 Part B’s. Product Y requires 2 Part A’s and 3 Part B’s. The standard cost for Part A is $12 per unit. The standard cost for Part B is $24 per unit. During this month, the company purchased 50,000 units of Part A for $587,500 (there was no beginning balance). During this month, the company purchased 100,000 units of Part B...
We are analyzing 2 products – product X and product Y. Product X requires 3 Part...
We are analyzing 2 products – product X and product Y. Product X requires 3 Part As and 4 Part B’s. Product Y requires 2 Part A’s and 3 Part B’s. The standard cost for Part A is $12 per unit. The standard cost for Part B is $24 per unit. During this month, the company purchased 50,000 units of Part A for $587,500 (there was no beginning balance). During this month, the company purchased 100,000 units of Part B...
We are analyzing 2 products – product X and product Y. Product X requires 4 Part...
We are analyzing 2 products – product X and product Y. Product X requires 4 Part As and 3Part B’s. Product Y requires 3 Part A’s and 2 Part B’s. The standard cost for Part A is $24 per unit. The standard cost for Part B is $12 per unit. During this month, the company purchased 50,000 units of Part A for $1,220,000 (there was no beginning balance). During this month, the company purchased 50,000 units of Part B for...
We are analyzing 2 products – product X and product Y. Product X requires 3 Part...
We are analyzing 2 products – product X and product Y. Product X requires 3 Part As and 4 Part B’s. Product Y requires 2 Part A’s and 3 Part B’s. The standard cost for Part A is $12 per unit. The standard cost for Part B is $24 per unit. During this month, the company purchased 50,000 units of Part A for $587,500 (there was no beginning balance). During this month, the company purchased 100,000 units of Part B...
2) S&P Supply sells only two products, Product S and Product P. Product S Product P...
2) S&P Supply sells only two products, Product S and Product P. Product S Product P Selling price per unit $25 $50 Variable cost per unit $20 $30 Fixed costs $225,000 a) What is the firm’s breakeven sales in dollars, assuming a sales (revenue) mix of 20% Product S and 80% Product P? b). Suppose the firm generated the amount of sales in dollars needed to break even, assuming a sales mix of 20% Product S and 80% Product P....
JOBCO produces two products on two machines. A unit of product 1 requires 2 hours on...
JOBCO produces two products on two machines. A unit of product 1 requires 2 hours on machine 1 and 1 hour on machine 2. For product 2, a unit requires 1 hour on machine 1 and 3 hours on machine 2. The revenues per unit of products 1 and 2 are $30 and $20, respectively. The total daily processing time available for each machine is 8 hours. Letting x1 and x2 represent the daily number of units of products 1...
A certain company makes two products: P₁ and P₂ . Each P₁ requires 5 kg of...
A certain company makes two products: P₁ and P₂ . Each P₁ requires 5 kg of material M and 3 kg of matetrial N. Each P₂ requires 3 kg of M and 3 kg of N. In the warehouse, there are 350 kg of M and 270 kg of N available. The profit is $50 for each P₁ and $40 for each P₂. What mis of P₁ and P₂ products should the company make and sell in order to maximize...
The green and red Company manufactures two products, Product 1 and Product 2. Product 2 was...
The green and red Company manufactures two products, Product 1 and Product 2. Product 2 was developed as an attempt to enter a market closely related to that of Product 1. Product 2 is the more complex of the two products, requiring three hours of direct labour time per unit to manufacture compared to one and one-half hours of direct labour time for Product 1. Product 2 is produced on an automated production line. Overhead is currently assigned to the...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT