Standard material cost per kg of raw material is 650

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Elementary and Intermediate Algebra: Algebra Within Reach
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Chapter 3 / Exercise 81
Elementary and Intermediate Algebra: Algebra Within Reach
Larson
Expert Verified
7) Standard material cost per kg of raw material is $6.50. Standard material allowed per unit is 5 Kg. Actual material used per unit is 6.00 Kg. Actual cost per kg is $6.00. What is the standard cost per output unit?A) $30.00B) $36.00C) $32.50D) $39.00Answer: Explanation: Standard cost per output unit = Standard material cost per kg × standard material allowed per unit = $6.50 × 5 kg = $32.50
C
Diff: 2Objective: 4AACSB: Application of knowledge8) Standard labor rate is $7.50 per hour. Standard labor allowed per unit is 0.7 hours. Actual cost per labor hour is $7.00 and actual labour hour per unit is 1 hours. What is the standard labor cost per output unit?
B
Diff: 2Objective: 4AACSB: Application of knowledge9) A standard price is the minimum price a company will have to pay for a unit of input.
Diff: 2Objective: 4AACSB: Analytical thinking
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Elementary and Intermediate Algebra: Algebra Within Reach
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Chapter 3 / Exercise 81
Elementary and Intermediate Algebra: Algebra Within Reach
Larson
Expert Verified
10) To prepare budgets based on actual data from past periods is preferred since past inefficiencies are EXCLUDED.
Diff: 2Objective: 4AACSB: Analytical thinking11) A firm's inefficiencies, such as the wastage of direct materials, are incorporated in past data. Hence the data represents the ideal performance of a firm.
Diff: 2Objective: 4AACSB: Analytical thinking12) A standard is attainable through efficient operations but allows for normal disruptions such as machine breakdowns and defective production.
Diff: 2Objective: 4AACSB: Analytical thinking13) One advantage of using standard times to develop a budget is they are simple to compile, are based solely on the past actual history, and do not require expected future changes to be taken into account.
Diff: 1Objective: 4AACSB: Analytical thinking

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