Tamarisk, Inc. is planning to produce 3,000 units of product in 2022. Each unit requires...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Tamarisk, Inc. is planning to produce 3,000 units of product in 2022. Each unit requires 3 pounds of materials at $7 per pound and a half-hour of labor at $18 per hour. The overhead rate is 70% 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, e.g. 2.75.) Standard cost $ $ Toutbool and Media Current Attempt in Progress Labor data for making one gallon of finished product in Concord Company are as follows. (1) Price-hourly wage rate $15.40, payroll taxes $0.60, and fringe benefits $1.70. (2) Quantity- actual production time 1.40 hours, rest periods and cleanup 0.30 hours, and setup and downtime 0.30 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct labor rate per hour. $ (b) Standard direct labor hours per gallon. hours (c) Standard labor cost per gallon. $ e Textbook and Media
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
