Swifty Corporation produces a product that requires 2.60 pounds of materials per unit. The allowance for waste andspoilage per unit is 0.30 pounds and 0.10 pounds, respectively. The purchase price is $4 per pound, but a 2% discount isusually taken. Freight costs are $0.50 per pound, and receiving and handling costs are $0.03 per pound. The hourlywage rate is $13 per hour, but a raise which will average $0.30 will go into effect soon. Payroll taxes are $1.30 per hour,and employee benefits average $2.60 per hour. Standard production time is 1 hour per unit, and the allowance for restperiods and setup is 0.20 hours and 0.10 hours, respectively. The standard direct materials price per pound is $3.92. $4.45 $4.53. $4.00.

Under standard costing the cost will be estimated at the beginning based on past data on cost.Then…

Answered: Swifty Corporation produces a product…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

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Chapter2: Building Blocks Of Managerial Accounting

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Bramble Corp. produces a product that requires 2.60 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.30 pounds and 0.10 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $0.10 per pound, and receiving and handling costs are $0.07 per pound. The hourly wage rate is $17 per hour, but a raise which will average $0.30 will go into effect soon. Payroll taxes are $1.70 per hour, and employee benefits average $3.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is 0.20 hours and 0.10 hours, respectively. The standard direct labor rate per hour is O $17.00. O $17.30. O $22.40. O $22.10. Save for Later Attempts: 0 of 1 used Submit Answer
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Bonita Industries produces a product that requires 2.30 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.40 pounds and 0.10 pounds, respectively. The purchase price is $2 per pound, but a 2% discount is usually taken. Freight costs are $0.10 per pound, and receiving and handling costs are $0.07 per pound. The hourly wage rate is $12 per hour, but a raise which will average $0.30 will go into effect soon. Payroll taxes are $1.20 per hour, per hour, and employee benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is 0.20 hours and 0.10 hours, respectively. The standard direct materials quantity per unit is Ⓒ 2.70 pounds. O 2.30 pounds. O 2.40 pounds. O 2.80 pounds.
Bonita Industries produces a product that requires 2.6 pounds of materials per unit. The allowance for waste and spoilage per unit is 0.3 pounds and 0.1 pounds, respectively. The purchase price is $4 per pound, but a 2% discount is usually taken. Freight costs are $0.4 per pound, and receiving and handling costs are $0.08 per pound. The hourly wage rate is $12 per hour, but a raise which will average $0.3 will go into effect soon. Payroll taxes are $1.20 per hour, and fringe benefits average $2.40 per hour. Standard production time is 1 hour per unit, and the allowance for rest periods and setup is 0.2 hours and 0.1 hours, respectively.The standard direct materials price per pound is A. $3.92. B. $4.40. C. $4.48. D. $4.00.
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