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Please help with homework problems Lindor Chocolates successfully uses a standard costing system for it's signature chocolates. They have a direct materials standard of 2
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Lindor Chocolates successfully uses a standard costing system for it's signature chocolates. They have a direct materials standard of 2 gallons of input at a cost of $4 per gallon. During January, Lindor Chocolates purchased and used 6,000 gallons. The direct materials quantity variance was $400 unfavorable and the direct materials price variance was $3,000 favorable. How many units did Lindor chocolates produce? Starbucks Corporation is an early adopter of the standard costing system. Starbucks has a materials standard of 1 pound per unit of output. Each pound has a standard price of $26 per pound. During July, Exeter paid $136,000 for 4,980 pounds, which it used to produce 4,790 units. What is the direct materials quantity variance? Gatorade Company has recently entered the market for quality energy drinks. These drinks are popular. Gatorade uses process costing to account for the production of these canned energy drinks. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,700 units for materials and 10,650 units for conversion costs. Beginning inventory consisted of $8,000 in materials and $8,800 in conversion costs. April costs were $30,000 for materials and $43,612 for conversion costs. Ending inventory still in process was 4,100 units (100% complete for materials, 50% for conversion). The cost per equivalent unit for conversion costs using the weighted average method would be: The Lysol Disinfectant Company is having increased sales this quarter for disinfectant wipes. Lysol uses a process costing system. During January, 10,500 units were started, and 11,000 units were completed. On January 31, the inventory consisted of 250 units that were 30% completed. How many units were in beginning inventory on January 1Step by Step Solution
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