Raw Material Product Alpha6 Zeta7 X442 1.8 kilos 4.4 kilos Y661 Sintering Standard Labor Time Finishing 2.4 liters 4.4 liters 0.20 hours 0.40 hours 1.20 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,100 kilos Purchase Cost $ 40,770 16,100 liters $ 22,540 Standard Price $2.50 per kilo $1.50 per liter Used in Production 9,600 kilos 14,100 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $21.50 per hour in Finishing. c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,680, and 2,960 direct labor-hours were worked in Finishing at a total labor cost of $69,560. d. Production during May was 1,700 Alpha6s and 1,550 Zeta7s. equired: Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.

Raw Material Product Alpha6 Zeta7 X442 1.8 kilos 4.4 kilos Y661 Sintering Standard Labor Time Finishing 2.4 liters 4.4 liters 0.20 hours 0.40 hours 1.20 hours 0.80 hours Information relating to materials purchased and materials used in production during May follows: Material X442 Y661 Purchases 15,100 kilos Purchase Cost $ 40,770 16,100 liters $ 22,540 Standard Price $2.50 per kilo $1.50 per liter Used in Production 9,600 kilos 14,100 liters The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $22.00 per hour in Sintering and $21.50 per hour in Finishing. c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $30,680, and 2,960 direct labor-hours were worked in Finishing at a total labor cost of $69,560. d. Production during May was 1,700 Alpha6s and 1,550 Zeta7s. equired: Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor.

Name: Complete the standard cost card for each product, showing the standard
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Description: Complete the standard cost card for each product, showing the standard cost of direct materials and direct labor. Raw MaterialProductAlpha6Zeta7X4421.8 kilos4.4 kilosY661SinteringStandard Labor TimeFinishing2.4 liters4.4 liters0.20 hours0.40 hours1.2

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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