Calculate the standard cost per unit. E12.19 (LO 1) Muhsin Company has gathered the following information about its product: Direct materials: Each unit of product contains 4.5 kg of materials. The average waste and spoilage per unit produced under normal conditions is 0.5 kg. Materials cost $5 per kilogram, but Muhsin always takes the 2% cash discount that all of its suppliers offer. Freight costs average $0.25 per kilogram. Direct labour: Each unit requires two hours of labour. Set-up, cleanup, and downtime average 0.3 hours per unit. The average hourly pay rate of Muhsin's employees is $12. Payroll taxes and fringe benefits are an additional $3 per hour. Manufacturing overhead: Overhead is applied at a rate of $7 per direct labour hour. Instructions Calculate Muhsin's total standard cost per unit. Calculate materials, price, and quantity variances.

Calculate the standard cost per unit. E12.19 (LO 1) Muhsin Company has gathered the following information about its product: Direct materials: Each unit of product contains 4.5 kg of materials. The average waste and spoilage per unit produced under normal conditions is 0.5 kg. Materials cost $5 per kilogram, but Muhsin always takes the 2% cash discount that all of its suppliers offer. Freight costs average $0.25 per kilogram. Direct labour: Each unit requires two hours of labour. Set-up, cleanup, and downtime average 0.3 hours per unit. The average hourly pay rate of Muhsin's employees is $12. Payroll taxes and fringe benefits are an additional $3 per hour. Manufacturing overhead: Overhead is applied at a rate of $7 per direct labour hour. Instructions Calculate Muhsin's total standard cost per unit. Calculate materials, price, and quantity variances.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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