Standard Direct Materials Cost per Unit 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 (1,950 bars) are as follows: Ingredient Quantity Price Cocoa 630 lbs. $0.40 per lb. Sugar 180 lbs. $0.60 per lb. Milk 150 gal. $1.50 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places. fill in the blank 1 of 1$ per bar

Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.2 pounds of the material, Ike uses 3.6 pounds of the material, and Bix uses 6.8 pounds of the material. Selling price per unit and variable costs per unit of each product follow. Selling price per unit Variable costs per unit Kin $ 169.68 105.00 Ike $ 112.56 78.00 Bix $ 212.88 134.00 (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, list the three products in the order in which management should produce and meet demand. Contribution margin per pound Product Contribution Margin Kin Ike Bix Order in which management should produce and meet demand:

I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Cocoa Dark Chocolate Light Chocolate Standard Price per Pound 9 lb. 6 lb. 7 lb. 11 lb. $5.2 0.6 Sugar Standard labor 0.4 hr. 0.5 hr. time Planned production Standard labor rate Dark Chocolate Light Chocolate 4,200 cases $16.5 per hr. 10,000 cases $16.5 per hr. I Love My Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Dark Chocolate Actual production (cases) Light Chocolate 10,400 Actual Pounds Purchased and Used 4,000 Actual Price per Pound Cocoa Sugar $5.3 0.55 98,900 138,800 Actual Labor Rate Actual Labor Hours Used Dark chocolate $16.2 per hr. 16.8 per hr. 1,460 5,330 Light chocolate Required: Prepare the following variance analyses for both chocolates and…

May you please answer both questions (:

Childress Company produces three products, K1, S5 and G9. Each product uses the same type of direct material. K1 uses 4 pounds of the material, S5 uses 3 pounds of the material and G9 uses 6 pounds of the material. Demand for all products is strong but only 50000 pounds of material are available. Information about the selling price per unit and variable cost per unit of each product follows. Orders for which product should be produced and filled first then second and then third? Selling price k1 $160 S5 $112 G9 $210 Variable costs K1$96 S5 $85 G9 $144

I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case        Dark Chocolate      Light Chocolate      Standard Price per Pound Cocoa 9 lbs.   6 lbs.   $5.30   Sugar 7 lbs.   11 lbs.   0.60   Standard labor time 0.4 hr.   0.5 hr.           Dark Chocolate Light Chocolate Planned production 5,000 cases   11,500 cases   Standard labor rate $14.50 per hr.   $14.50 per hr.   I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results:   Dark Chocolate Light Chocolate Actual production (cases) 4,800 12,000        Actual Price per Pound      Actual Pounds Purchased and Used Cocoa $5.40   115,800   Sugar 0.55   161,500     Actual Labor Rate      Actual Labor Hours Used Dark…

Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 3.9 pounds of the material, Ike uses 3.1 pounds of the material, and Bix uses 5.5 pounds of the material. Selling price per unit and variable costs per unit of each product follow.     Kin Ike Bix Selling price per unit $ 152.67 $ 118.66 $ 207.55 Variable costs per unit 93.00 92.00 141.00 (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, lis

Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through two operations, Sintering and Finishing. Each of the products uses two raw materials-X442 and Y661. The company uses a standard cost system, with the following standards for each product (on a per unit basis): Raw Material Standard Labor Time Product X442 Y661 Sintering Finishing Alpha6 3.0 kilos 2.0 liters 0.40 hours 1.00 hours Zeta7 5.0 kilos 5.0 liters 0.50 hours 1.20 hours Information relating to materials purchased and materials used in production during May follows: Purchase Standard Used in Material Purchases Cost Price Production 15,700 kilos 16,700 liters $51,810 $20,040 $3.10 per kilo $1.30 per liter 10,200 kilos 14,700 liters X442 Y661 The following additional information is available: a. The company recognizes price variances when materials are purchased. b. The standard labor rate is $23.00 per hour in Sintering and $21.50 per hour in Finishing. c. During May, 1,450 direct labor-hours were…

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

Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.5 pounds of the material, Ike uses 4.1 pounds of the material, and Bix uses 6.2 pounds of the material. Selling price per unit and variable costs per unit of each product follow. Selling price per unit Variable costs per unit Kin $ 173.10 102.00 Ike $ 118.18 78.00 Bix $ 204.34 138.00 (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, list the three products in the order in which management should produce and meet demand. Contribution margin per pound Product Contribution Margin Kin Ike Bix Order in which management should produce and meet demand: