Determine standard quantity for each of the raw materials

Assignment Help Accounting Basics

Reference no: EM131820664

Question: Standard Material Allowances Chesapeake Chemical Company supplies primarily industrial users. Your superior has asked you to develop a standard product cost for a new solution the company plans to introduce. The new chemical solution is made by combining altium and bollium, boiling the mixture, adding credix, and bottling the resulting solution in 20-liter containers. The initial mix, which is 20 liters in volume, consists of 24 kilograms of altium and 19.2 liters of bollium. A 20% reduction in volume occurs during the boiling process. The solution is then cooled slightly before adding 10 kilograms of credix to each 20-liter container; the addition of credix does not affect the total liquid volume. The purchase prices of the raw materials used in the manufacture of this new chemical solution are as follows

Altium $2.20 per kilogram

Bollium $4.60 per liter

Credix $3.20 per kilogram

Determine the standard quantity for each of the raw materials needed to produce 20 liters of Chesapeake Chemical Company's new chemical solution and the total standard materials cost of 20 liters of the new product.

Reference no: EM131820664

Questions Cloud

What is net income : Interest expense is $50,000 and depreciation is $55,000. The tax rate is 34%. What is the net income?

Determining the deception and design : The authors of the paper "Deception and Design: The Impact of Communication Technology on Lying Behavior" (Proceedings of Computer Human Interaction

Particular brand of cough medicine : Suppose that a random sample of 50 bottles of a particular brand of cough medicine is selected and the alcohol content of each bottle

Discuss about the critical incident stress debriefing : Create one 10-12-slide PowerPoint presentation (in addition to a title slide and references slide) outlining an intervention for each case study.

Determine standard quantity for each of the raw materials : Determine the standard quantity for each of the raw materials needed to produce 20 liters of Chesapeake Chemical Company's new chemical solution and the total.

Discuss bonuses are determined based on meeting : What is the problem here, and how can it be fixed, Discuss bonuses are determined based on meeting

Find the change in the amount of money at time delta : find the change in the amount of money at time delta(t). Derive the differential equation from the above.

Describe the statistical test that you chose to run : Describe the statistical test that you chose to run and provide the key results for the test as well as a brief explanation of the results.

Estimate the mean breaking force for acrylic bone : Assuming that it is reasonable to believe that breaking force under these conditions has a distribution that is approximately normal

User Account

All Pages