Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, has the following standard cost per unit: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Standard Price or Hours Rate $23.00 per ounce $14.00 per hour $ 2.50 per hour 2.20 ounces 0.60 hours 0.60 hours Standard Cost $ 50.60 8.40 1.50 $ 60.50 During November, the following activity was recorded related to the production of Fludex: a. Materials purchased, 12,000 ounces at a cost of $259,800. b. There was no beginning inventory of materials; however, at the end of the month, 3,100 ounces of material remained in ending inventory. c. The company employs 25 lab technicians to work on the production of Fludex. During November, they each worked an average of 130 hours at an average pay rate of $12.00 per hour. d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $4,200. e. During November, the company produced 4,000 units of Fludex.

Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, has the following standard cost per unit: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Standard Price or Hours Rate $23.00 per ounce $14.00 per hour $ 2.50 per hour 2.20 ounces 0.60 hours 0.60 hours Standard Cost $ 50.60 8.40 1.50 $ 60.50 During November, the following activity was recorded related to the production of Fludex: a. Materials purchased, 12,000 ounces at a cost of $259,800. b. There was no beginning inventory of materials; however, at the end of the month, 3,100 ounces of material remained in ending inventory. c. The company employs 25 lab technicians to work on the production of Fludex. During November, they each worked an average of 130 hours at an average pay rate of $12.00 per hour. d. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $4,200. e. During November, the company produced 4,000 units of Fludex.

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Description: Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, has the followingstandard cost per unit:Direct materialsDirect laborVariable manufacturing overheadTotal standard cost per unitStandard Q

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, has the following standard cost per unit: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.40 ounces $ 18.00 per ounce $ 43.20 Direct labor 0.70 hours $ 14.00 per hour 9.80 Variable manufacturing overhead 0.70 hours $ 3.00 per hour 2.10 Total standard cost per unit $ 55.10 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 12,000 ounces at a cost of $198,000. There was no beginning inventory of materials; however, at the end of the month, 3,200 ounces of material remained in ending inventory. The company employs 20 lab technicians to work on the production of Fludex. During November, they each worked an average of 160 hours at an average pay rate of $12.00 per hour. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours.…
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Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or 2.50 Hours ounces 0.90 hours Standard Price or Rate $ 22.00 per ounce $ 16.00 per hour 0.90 hours $ 2.00 per hour Standard Cost $ 55.00 14.40 1.80 $ 71.20 During November, the following activity was recorded related to the production of Fludex: a. Materials purchased, 14,000 ounces at a cost of $289,800. b. There was no beginning inventory of materials; however, at the end of the month, 4,050 ounces of material remained in ending inventory. c. The company employs 26 lab technicians to work on the production of Fludex. During November, they each worked an average of 150 hours at an average pay rate of $15.00 per hour. d. Variable…
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Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.00 ounces $ 30.00 per ounce $ 60.00 Direct labor 0.50 hours $ 14.00 per hour 7.00 Variable manufacturing overhead 0.50 hours $ 3.40 per hour 1.70 Total standard cost per unit $ 68.70 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 10,000 ounces at a cost of $287,000. There was no beginning inventory of materials; however, at the end of the month, 3,000 ounces of material remained in ending inventory. The company employs 20 lab technicians to work on the production of Fludex. During November, they each worked an average of 130 hours at an average pay rate of $12.00 per hour.…