Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Blossom Company is planning to produce 1,000 units of product in 2022. Each unit requires 10 pounds of materials at $4.0 per pound and a
Blossom Company is planning to produce 1,000 units of product in 2022. Each unit requires 10 pounds of materials at $4.0 per pound and a half-hour of labor at $12 per hour. The overhead rate is 40% of direct labor. (a) Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor $ Overhead $ (b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places 3.275) Standard cost Per Unit Labor data for making one gallon of finished product in Donna Company are as follows. (1) Price--hourly wage rate $18.00, payroll taxes $0.50, and fringe benefits $1.30. (2) Quantity-actual production time 1.6 hours, rest periods and cleanup 0,30 hours and setup and downtime 0.20 hours Compute the following. (Round answers to 2 decimal places, eg. 1.25.) (a) Standard direct labor rate per hour. (b) Standard direct labor hours per gallon hours (c) Standard labor cost per gallon
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6691579cc7955_1806691579c69d7a.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6691579d96cd0_1816691579d12ec3.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started