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Linda_us, Finance, Accounts & Homework Tutor
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Experience:  Post Graduate Diploma in Management (MBA)
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1.Fruit Snacks Corp Inc. makes lunchbox style fruit snacks.

Resolved Question:

1.Fruit Snacks Corp Inc. makes lunchbox style fruit snacks. The owner of the company is setting up a standard cost system, and she has collected the following data for one of the company’s products-fruit chews.
The data below pertain only to the fruits used in the product:
Material requirements, kilograms of fruits per dozen bags 0.95 kilograms
Allowance for waste, kilograms of fruits per dozen bags 0.06 kilograms
Allowance of rejects, kilograms of fruit per dozen bags 0.04 kilograms
Purchase price, fruit $7.50 per kilogram
Purchase discount 4% of the purchase price
Shipping cost from the supplier $0.30 per kilogram
Receiving and handling cost $0.10 per kilogram

a. Determine the standard price of a kilogram of fruits. Show computations
b. Determine the standard quantity of fruits for one dozen bags, Show computations

2. Posters Now uses a standard cost system. Job 67 is for the manufacturing of 800 units of the product P100. The company’s standards for one unit of product P100 are as follows:
Standard quantity: 11 ounces
Standard price: $3 per ounce
Standard direct labor: 1.5 hours
Standard labor rate: $12 per hour
The job requires 8,000 ounces of raw materials costing $26,100
a. What is the materials price variance? Show computations
b. What is the materials quantity variance? Show computations

3. Posters Now uses a standard cost system. Job 67 is for the manufacturing of 800 units of the product P100. The company’s standards for one unit of product P100 are as follows:
Standard quantity: 11 ounces
Standard price: $3 per ounce
Standard direct labor: 1.5 hours
Standard labor rate: $12 per hour
The job requires 8,000 ounces of raw materials costing $26,100. The job also used 1,250 labor hours at a rate of $12.20 hour.
a. What is the labor rate variance? Show computations
b. What is the labor efficiency variance? Show computations

4. Walker Corporation is a distributor of several products. They use a predetermined variable overhead rate based on direct labor hours. In the most recent month, 90,000 items were shipped to customers using 3,500 direct labor hours. The company incurred a total of $12,600 in variable overhead costs. According to the company’s standards, 0.04 direct labor hours are required to fulfill an order for one item and the variable overhead rate is $3.50 per direct labor hour.

a. What is the variable overhead spending variance? Show computations
b. What is the variable overhead efficiency variance? Show computations



5. For the third quarter of the year, the following data was reported
Inspection time 1.4 days
Process Time 4.5 days
Wait time 12.0 days (the time between the customer order and the beginning of production)
Queue Time 3.9 days
Move time 0.8 days

a. What is the throughput time? Show computations
b. What is the manufacturing cycle efficiency for the quarter? Show computations
c. What is the delivery cycle time? Show computations
Submitted: 2 years ago.
Category: Homework
Expert:  Linda_us replied 2 years ago.
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Linda_us, Finance, Accounts & Homework Tutor
Category: Homework
Satisfied Customers: 7038
Experience: Post Graduate Diploma in Management (MBA)
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