Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Canuck Maple makes maple syrup. it is based in a small town between Montreal and Quebec City. The owner uses a special recipe handed down

image text in transcribed
image text in transcribed
Canuck Maple makes maple syrup. it is based in a small town between Montreal and Quebec City. The owner uses a special recipe handed down through several generations in his family to make the highly popular brand of maple syrup. Due to recent growth of the company, the owner wants to develop a standard cost for the syrup. The following information is available on the production of the syrup: a. Syrup is made by combining the base syrup with a secret ingredient called X. The syrup and ingredient X are brought together in a specific proportion and boiled for a specific time at a specific temperature. This process results in o 20% loss in volume for both ingredients. After boiling. the mixture consists of 13.8 litres of syrup and 20.4 kilograms of X per 10 -litre batch of syrup. b. After the boiling process is complete, the solution is cooled slightly before 15.5 kilograms of a second ingredient, Y, are added per 10-litre batch of syrup. There is no loss of volume during this process. The resulting solution is then bottled in 10 -litre containers. c. The finished product is undergoes strict quality testing. The syrup is unstable and easily spoils, and one 10-litre batch out of six is rejected at final inspection. In other words, after every five good batches, the sixth one is rejected. Rejected batches have no commercial value and are thrown out. d. It takes a worker 28 minutes to process one 10-litre batch of syrup. Employees work an eight-hour day, including one hour per day for rest breaks and cleanup. Required: 1. Determine the amount of syrup that must be processed to yleld one batch of finished product, considering only the loss during processing. (Do not round intermediate calculations and round your answer to 1 decimal place.) 2. Determine the amount of syrup that is lost due to failure to pass the quality test. (Do not round intermediate calculations and round your answer to 1 decimal place.) 3. Determine the standard quantity of syrup that will be required to make one 10-litre batch of finished syrup. (Do not round intermediate calculations and round your answer to 1 decimal place.) 3. Determine the standard quantity of syrup that will be required to make one 10-6tre botch of finished syrup. (Do not round intermediate calculations and round your answer to 1 decimal place.) 4. Determine the standard quantity of ingredionts X and Y needed to produce an acceptable 10-litre batch of Syrup. (Do not round intermediate calculations and round your answers to 1 decimal place. 5. How many batches of syrup are processed in a day? 6. Determine the standard labour time to produce an acceptable 10 - litre batch of syrup. (Do not round intermediate calculations.). 7. Assuming the following purchase prices and costs, prepare a standard cost card for materials and labour for one acceptable 10-litre batch of syrup: (Do not round intermediate calculations and round your answers to 2 decimal places.)

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

Beyond Audit Auditing Remotely And Delivering Value

Authors: Robert L. Mainardi

1st Edition

1119789605, 978-1119789604

More Books

Students also viewed these Accounting questions