Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6 2.5 points Problem 9-21 (Algo) Multiple Products, Materials, and Processes [LO9-4, LO9-5] Mickley Corporation produces two products, Alpha6s and Zeta7s, which pass through

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

6 2.5 points Problem 9-21 (Algo) Multiple Products, Materials, and Processes [LO9-4, LO9-5] 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): Standard Labor Time Raw Material eBook Product Alphab Zeta7 X442 2.0 kilos Y661 3.4 liters Sintering 0.20 hours Finishing 0.80 hours 4.0 kilos 5.0 liters 0.25 hours 0.90 hours Print References Information relating to materials purchased and materials used in production during May follows Material X442 Purchases 15,900 kilos Purchase Cost $55,650 Y661 16,900 liters $ 23,660 Standard Price $3.30 per kilo $1.50 per liter Used in Production 10,400 kilos 15,800 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 $20.50 per hour in Finishing. c. During May, 1,300 direct labor-hours were worked in Sintering at a total labor cost of $31720, and 3,040 direct labor-hours were worked in Finishing at a total labor cost of $68,400. d. Production during May was 2,500 Alpha6s and 1,400 Zeta7s. Ch

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting

Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp

1st Canadian Edition

978-0132490252, 132490250, 978-0176223311

More Books

Students also viewed these Accounting questions

Question

What are the big five personality traits? (p. 60)

Answered: 1 week ago