Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using selected answers above, what were the total costs assigned to work in process? Please, show details. Crede Manufacturing Company uses a standard Cos: accounting

image text in transcribed

Using selected answers above, what were the total costs assigned to work in process?

Please, show details.

Crede Manufacturing Company uses a standard Cos: accounting system. In 2020, 28,000 units were produced. Each unit took several kilograms of direct materials and 16 standard hours of direct labourata standard hourly rate of $15. Normal capacity was 48,500 direct labour hours. During the year, 117,600 kg of raw materials were purchased a $0.95 per kilogram. All materials purchased wers used during the year. al Your answer is correct. If the materials price variance was $5,890 favourable, what was the standare materials price per kilogram? [Round answer to 2 decimal places, 525 Standard price per kilogram 2 e Textbook and Media Attempts: 1 of 2 used (b) Your answer is correct. If the materials quantity variance was $5.600 unfavourable what was the standard materials quantity per unit? (Round answer to 2 decimal places, e.g. 5.17.) Standare materials quantity per unit 400 kilograms e Textbook and Media Attempts: 2 of 2 used (c) Your answer is correct. What were the standard hours allowed for the units produced? ? Standard hours allowed 44900 e Textbook and Media Attempts: 1 of 2 used (d) d Your answer is correct. If the labour Quantity variance was $9,200 unfavourable, what were the actual direct labour hours worked? Actual direct labour hours 45420 e Textbook and Media Attempts: 1 of 2 used le) your answer is correct. If the labour price variance was $12.168 favourable what was the actua rats per hour? Round answer to 2 decimal placeses 15.25.1 Actual rate per hour s s 14.60 e Textbook and Media Attempts: 1 of 2 used f) Your answer is correct. Iftotal budgeted manufacturing overhead was $392.850 at normal capacity, what was the predetermined overhead rate? Round $? ( answer to 2 decimal places, es. 15.25 Predetermined overhaac rats S S 8.10 e Textbook and Media Attempts: 2 of 2 used LE Your answer is correct. What was the standard cost per unit of product? (Round answer to 2 decimal places es. 15.25.) Standard cost per unit S 40.96 e Textbook and Media Attempts: 1 of 2 used th) Your answer is correct. How much overhead was applied to production during the year? Overhead applied 352880 e Textbook and Media Attempts: 1 of 2 used

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

Students also viewed these Accounting questions

Question

what are the positive and negative of the model the way

Answered: 1 week ago