Reference no: EM133006062
Question - Ivanhoe Manufacturing Company uses a standard cost accounting system. In 2022, 27,000 units were produced. Each unit took several kilograms of direct materials and 1.6 standard hours of direct labour at a standard hourly rate of $9.00. Normal capacity was 48,300 direct labour hours. During the year, 110,700 kg of raw materials were purchased at $0.97 per kilogram. All materials purchased were used during the year.
If the materials price variance was $3,321 favourable, what was the standard materials price per kilogram?
If the materials quantity variance was $5,400 unfavourable, what was the standard materials quantity per unit?
What were the standard hours allowed for the units produced?
If the labour quantity variance was $5,580 unfavourable, what were the actual direct labour hours worked?
If the labour price variance was $13,146 favourable, what was the actual rate per hour?
If total budgeted manufacturing overhead was $376,740 at normal capacity, what was the predetermined overhead rate?
What was the standard cost per unit of product?
How much overhead was applied to production during the year?
Using selected answers above, what were the total costs assigned to work in process?
|
Explain the benefits of a structured interview
: Robert Sloan just called you to tell you that one of his Staff Accountants is planning to retire in 3 months. This gives you some time to walk through the hirin
|
|
What was the standard materials quantity per unit
: If the materials quantity variance was $5,800 unfavourable, what was the standard materials quantity per unit
|
|
How do evaluate what is the project mirr
: What is the project's MIRR? A project has an initial cost of $70,000, expected net cash inflows of $11,000 per year for 8 years, and a cost of capital of 10%.
|
|
What will be expense to be recognized in income statement
: On 01/01/20X1 the Beta Company granted 10,000 stock options. What will be the expense to be recognized in the income statement as of 12/31/20X1?
|
|
How much overhead was applied to production during the year
: During the year, 110,700 kg of raw materials were purchased at $0.97 per kilogram. How much overhead was applied to production during the year
|
|
Find how many units must be sold to achieve
: If the unit sales price is $5,350, unit variable cost is $2,460, and total fixed costs are $803,000, how many units must be sold to achieve a target net income
|
|
How do find what is the project pi
: A project has an initial cost of $40,000, expected net cash inflows of $11,000 per year for 6 years, and a cost of capital of 9%. What is the project's PI?
|
|
What is burgundy weighted average cost of capital
: What is Burgundy's weighted average cost of capital? Burgundy is contemplating what for the company is an average-risk investment costing 56 million
|
|
How long will it be before you have enough to buy the car
: The bank pays 5.5 percent annual interest on its accounts. How long will it be before you have enough to buy the car
|