1 2 Marigold produces four kinds of ice cream from a single process. The total joint costs of $72,400 resulted from 3,300 gallons of vanilla, 2,800 gallons of strawberry, 2,100 gallons of chocolate, and 1,100 gallons of Neapolitan ice cream. Marigold sells the vanilla ice cream for $3.00 a gallon, and the other three flavours are sold for $3.50 per gallon. How much of the joint cost will be allocated to each product, if the sales value at split-off method is used? Davis Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for November: Molding Grinding Finishing Direct materials $143,300 $15,700 $10,200 Direct labor 13,600 34,200 22,800 19,400 Applied overhead 17,000 135,900 During November, 8,800 components were completed. There is no beginning or ending WIP in any department. Required: 1. Prepare a schedule showing, for each department, the cost of direct materials, direct labor, applied overhead, product transferred in from a prior department, and total manufacturing cost. 2. Calculate the unit cost.

Bronte Confections is known for its rich dark chocolate fudge. Bronte sells its fudge to local retailers. A "unit" of fudge is a 10-pound batch. The standard quantities of ingredients for a batch include 6 cups of sugar, 23 ounces of chocolate chips, 13 ounces of butter, and 25 ounces of evaporated milk. The standard costs for each of the ingredients are as follows: $0.25 per cup of sugar, $0.14 per ounce of chocolate chips, $0.11 per ounce of butter, and $0.08 per ounce of evaporated milk. Calculate the standard direct material cost per batch of fudge. Calculate the standard direct material (DM) cost per batch of fudge. (Enter all dollar amounts to two decimal places.) Standard Quantity X Standard Price Standard Cost Sugar per cup Chocolate chips per ounce Butter per ounce Evaporated milk per ounce Standard DM cost per batch X X

Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as follows: Ingredient Quantity Price Cocoa 500 lbs. $1.40 per lb. Sugar 100 lbs. $0.50 per lb. Milk 250 gal. $1.60 per gal. Determine the standard direct materials cost per bar of chocolate.

Truly Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,457 bars) are as follows: Ingredient Quantity Price Cocoa 420 lbs. $0.30 per lb. Sugar 120 lbs. $0.60 per lb. Milk 90 gal. $1.20 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places.fill in the blank 1 of 1$ per bar

Aunt Molly's Old Fashioned Cookies bakes cookies for retail stores.  The company's best-selling cookie is the chocolate nut supreme, which is marketed as a gourmet cookie and regularly sells for $8.00 per pound.  The standard cost per pound of chocolate nut supreme, based on Aunt Molly's normal monthly production of 400,000 pounds is as follows: Cost Item Quantity Standard Unit Cost Total Cost Direct material:          Cookie mix 10 oz. $0.02 per oz. $0.20    Milk Chocolate 5 oz. $0.15 per oz. $0.75    Almonds 1 oz. $0.50 per oz. $0.50          Total $1.45 Direct Labor          Mixing 1 min $14.40 per hr. $0.24    Baking 2 min $18.00 per hr. $0.60     Total $0.84           Cost Item Quantity Standard Unit Cost Total Cost Variable overhead 3 min $32.40 per direct-labor hr. $1.62 Total Standard cost per pound     $3.91 Aunt Molly's management accountant, Karen Blair, prepares monthly budget reports based on these standard costs. The month of April's…

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Pirate Seafood Company purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $20.00 per pound and the flakes for $16.00 per pound. On average, 100 pounds of lobster are processed into 59 pounds of tails and 27 pounds of flakes, with 14 pounds of waste. Assume that the company purchased 3,400 pounds of lobster for $4 per pound and processed the lobsters with an additional labor cost of $8,000. No materials or labor costs are assigned to the waste. If 1,858 pounds of tails and 829 pounds of flakes are sold, calculate the allocated cost of the sold items and the allocated cost of the ending inventory. The company allocates joint costs on a value basis. (Round your answers to nearest whole number. Round cost per pound answers to 2 decimal places.)

Tropikal Co makes fizzy drinks. One of its products, the Opop, requires the following standard input for a litre of output: Materials Litres Cost per litre ($) ($) Carbonated water 1.50 0.90 0.6 0.3 Flavoured syrup 2.00 0.60 Sugar water 0.3 0.80 0.24 1.2 1.74 During June, 6,000 litres of the Opop were made and sold using the following inputs: Materials Actual litres used Actual cost per litre ($) Carbonated water 3,800 1.40 Flavoured syrup 1,400 2.10 Sugar water 1,500 0.95 6,700 What was the favourable yield variance for the Opop for June? Select... V Select... $725 $740 $15 $732

Buzz Appliances manufactures two products: Food Processors and Espresso, Machines. The following data are available:Sales priceVariable costs Food Processors$175580 Espresso Makers$265S160 The company can manufacture four food processors per machine hour and three espresso machines per machine hour. The company's production capacity is 1,200 machine hours per month. What is the contribution margin per machine hour for food processors?

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