Average waste and spoilage per unit produced

Assignment Help Financial Accounting

Reference no: EM13755354

Kimm Company has gathered the following information about its product. Direct materials. Each unit of product contains 3.60 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.20 pounds. Materials cost $5 per pound, but Kimm always takes the 3.53% cash discount its entire suppliers offer. Freight costs average $0.32 per pound. Direct labor. Each unit requires 2.00 hours of labor. Setup, cleanup, and downtime average 0.26 hours per unit. The average hourly pay rate of Kimm’s employees is $13.90. Payroll taxes and fringe benefits are an additional $2.00 per hour. Manufacturing overhead. Overhead is applied at a rate of $7.70 per direct labor hour. Compute Kimm’s total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.) Total standard cost per unit $Entry field with incorrect answer

Reference no: EM13755354

Questions Cloud

What is the present value and plan to retire : What is the present value of 500,000 to be paid in 10 years with an interest rate of 8 percent? What is the present value of 10 equal payments of 15,000 with an interest rate of 10 percent?

Percent of the company financing : A. What percent of the company's financing is debt? B. What percent of the company's financing is equity?

Create a data dictionary : Create a data dictionary that includes the following: A description of the content for each field, The data type of each field, The format the data will be stored as in the field

Calculate the annualized value of a building : Calculate the annualized value of a building that would cost $ 1 million to replace and has a life of 25 years. use interest rates of 5% 10% and 15%

Average waste and spoilage per unit produced : Kimm Company has gathered the following information about its product. Direct materials. Each unit of product contains 3.60 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.20 pounds.

Analyze the audit report that the cpa firm issued : Analyze the audit report that the CPA firm issued. Ascertain the legal liability to third parties who relied on financial statements under both common and federal securities laws. Justify your response.

Analysis of how digital media guided decision making : Digital media has changed the ways ideas, information, and arguments in society are communicated both locally and globally. Individuals and organizations frequently use digital media as a means to influence individuals and organizations.

Spent in the future to service warranty claims : Street Factory provides a 3-year warranty with one of its products which was first sold in 2012. In that year, Street spent $80,000 servicing warranty claims. At year-end, Street estimates that an additional $300,000 will be spent in the future to se..

Money demand suppose that you never carry cash : (Money Demand) Suppose that you never carry cash. Your paycheck of $1,000 per month is deposited directly into your checking account, and you spend your money at a constant rate so that at the end of each month your checking account balance is zero. ..

User Account

All Pages