Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

02. Kappa Go produces Dmega, an animal feed made by mixing and heating thr Alpha. Beta and Gamma. The company uses a standard costing system

image text in transcribed
image text in transcribed
02. Kappa Go produces Dmega, an animal feed made by mixing and heating thr Alpha. Beta and Gamma. The company uses a standard costing system to monitor its costs. The standard material cost for 100 kg of 0mega is as follows: Input Kg Cost per kg Cost per 100 kg of Omega {ii} 11$} Alpha 1&0 2-00 00-00 Beta 60 5-00 300-00 Gamma 20 1-00 20-00 Total l20 1500-00 Notes {1] The mixing and heating process is subject to a standard evaporation loss. {2] Alpha. Beta and Gamma are agricultural products and their quality and pric significantly from year to year. Standard prices are set at the average market last five years. Kappa Co has a purchasing manager who is responsible for pri supplier contracts. {3} The standard mix is set by the finance department. The last time this was :1 product launch which was five years ago. It has not changed since. Last month 11,600 kg of 0mega was produced, using the following inputs: Input Kg Cost per kg Total cost Lil [if lpha 2,200 1-30 3,9150 Beta 2,500 0-00 15,000 Gamma 9'20 1-00 9'20 Total 5.1520 10.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

11th Edition

1119594596, 978-1119594598

More Books

Students also viewed these Accounting questions

Question

1. Why do we trust one type of information more than another?

Answered: 1 week ago