Lance Inc., processes sugar cane that it purchases from farmers. Sugar cane is processed in batches. A batch of sugar cane costs P60 to buy from farmers and P13 to crush in the company's plant. Two intermediate products, cane fiber and cane juice, emerge from the crushing process. The cane fiber can be sold as is for P29 or processed further for P13 to make the end product industrial fiber that is sold for P61. The cane juice can be sold as is for P40 or processed further for P20 to make the end product molasses that is sold for P67. 1. How much profit (loss) does the company make by processing the intermediate product cane juice into molasses rather than selling it as is?

2.The company "Chanos Ltd" produces puzzles for adults within the framework of a standardized mass production. The production process uses 2 basic raw materials: cardboard and high quality ink. For the manufacture of a puzzle, half a square meter of cardboard and 0.1 kg of ink are required. The cardboard is inserted at the beginning of the production process and the ink is added at the end by printing the design on the now perforated puzzle. The company uses the cost flow assumption F.I.F.O. to value its inventories. Here are some data for the month of August 20X6: The initial stock of semi-finished on 1/8/20X6 was 2,000 puzzles processed at 20% in terms of conversion costs. The cost of the initial stock amounted to €28,000 in terms of cardboard costs and €35,000 in terms of conversion costs. The conversion cost for the month amounted to € 20,300. The final stock of semi-finished on 31/8/20X6 was 3,000 puzzles processed at 40% in terms of conversion costs. Data are also given…

Please answer in text form without image

Glassworks makes products for the sandblasting industry. One of the products they make is bags of high-grade sandblasting media that is made from a combination of quartz-sand and recycled ground-glass (cullet). Standard costs and quantities to produce one bag of sandblasting media are as follows:                           Quantity          Cost Quartz-sand    20 kg               $4.00 Cullet               5 kg                $3.00   80,000 bags of sandblasting media were produced. Actual purchases and inventories were:                         Beginning           Ending          Purchases        Purchases                         Inventory         Inventory              (in kg)            ( in $) Quartz-sand       0 kg                          0 kg       1,610,000 kg   $322,161 Cullet                  0 kg              120,000 kg         550,000 kg    $286,000   Required: Calculate the following variances: a)Total direct material efficiency variance. b)Total direct material mix variance.…

Dinesh

Dineshbhai

answer in text form please (without image)