questions I need answers to please what is your pricing References Exercise 14-33 (Algo)...

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questions I need answers to please what is your pricing			References Exercise 14-33 (Algo) Determining Standard Direct Materials Cost [LO 14-4] Agrichem manufactures Insect-Be-Gone. Each bag of the product contains 56 pounds of direct materials. Twenty percent of the materials evaporate during manufacturing. The budget allows the direct materials to be purchased at $2.50 per pound (gross cost) under terms of 4/10, n/30. The company’s stated policy is to take all available cash discounts. Required: Determine the standard direct materials cost for one bag of Insect-Be-Gone. (Do not round intermediate calculations.)      2 25 points. eBook a print 0 References   Exercise 14-30 (Algo) Behavioral Consider:    ns and Continuous-Improvement Standards [LO 14-3, 14-4]   At a recent seminar you attended, the invited speaker was discussing some of the advantages and disadvantages of standard costs in terms of evaluating performance and motivating goal-congruent behavior on the part of employees. One criticism of standard costs in particular caught your attention: The use of conventional standard costs may not provide appropriate incentives for improvements. needed to compete effectively with world-class organizations. The speaker then discussed so-called continuous-improvement standard costs. Such standards embody systematically lower costs over time. For example, on a monthly basis, it might be appropriate to budget a 1.0% reduction in per-unit direct labor cost. Assume that the standard wage rate into the foreseeable future is $23 per hour. Assume, too, that the budgeted labor-hour standard for October of the current year is 2.80 hours and that this standard is reduced each month by 2%. During December of the current year the company produced 7.000 units of XL-10, using 21,500 direct labor hours. The actual wage rate per hour in December was $25.00. Required: 1. Prepare a table that contains the standard labor-hour requirement per unit and standard direct labor cost per unit for the 4 months, October through January. 2. Compute the direct labor efficiency variance for December. Was this variance favorable or unfavorable?   Complete this question by entering your answers in the tabs below.   Required 1 | Required 2  Prepare a table that contains the standard Iabor-hour requirement per unit and standard direct labor cost per unit for the 4 months, October through January. (Do not round intermediate calculations. Round your "Standard Direct Labor Cost/Unit" answers to 2 decimal places and "Standard Labor-Hour Requirement/Unit’ answers to 5 decimal places.)  October hour per unit November I hourperunit [| December I hourperunit [| January I hour per unit I      2 25 points. eBook a print 0 References Exercise 14-30 (Algo) Behavioral Considerations and Continuous-Improvement Standards [LO 14-3, 14-4] At a recent seminar you attended, the invited speaker was discussing some of the advantages and disadvantages of standard costs in terms of evaluating performance and motivating goal-congruent behavior on the part of employees. One criticism of standard costs in particular caught your attention: The use of conventional standard costs may not provide appropriate incentives for improvements. needed to compete effectively with world-class organizations. The speaker then discussed so-called continuous-improvement standard costs. Such standards embody systematically lower costs over time. For example, on a monthly basis, it might be appropriate to budget a 1.0% reduction in per-unit direct labor cost Assume that the standard wage rate into the foreseeable future is $23 per hour. Assume, too, that the budgeted labor-hour standard for October of the current year is 2.80 hours and that this standard is reduced each month by 2%. During December of the current year the company produced 7.000 units of XL-10, using 21,500 direct labor hours. The actual wage rate per hour in December was $25.00. Required: 1. Prepare a table that contains the standard labor-hour requirement per unit and standard direct labor cost per unit for the 4 months, October through January. 2. Compute the direct labor efficiency variance for December. Was this variance favorable or unfavorable? Complete this question by entering your answers in the tabs below.   Required 1 | Required 2  Compute the direct labor efficiency variance for December. Was this variance favorable or unfavorable? (Round your final answer to nearest whole dollar amount.)

Atul · Accepted Answer

Question 1 : Agrichem manufacture insect-be-Gone. Each bag of the product contains 56 pounds of the direct material. Twenty percent of the materials evaporate during maufacturing. the budget allows the direct material to be purchased at $2.50 per pound (gross cost) under terms of 4/10, n/30. The company's stated policy is to take all available cash discount. Now, determine the standard direct material cost for one bag of insect-be-gone (do not round immediate calculations)
Solution : 
To determine the standard direct material cost for one bag of Insect-Be-Gone, we need to consider the following components:
The standard direct materials cost for one bag of Insect-Be-Gone is $194.
First, let's calculate the actual quantity of materials used in one bag of Insect-Be-Gone after accounting for evaporation:
Actual quantity of materials used = Quantity of materials specified / (1 - Evaporation rate)
Actual quantity of materials used = 60 pounds / (1 - 0.25)
Actual quantity of materials used = 60 pounds / 0.75
Actual quantity of materials used = 80 pounds
Next, let's calculate the standard direct materials cost per pound:
Standard direct materials cost per pound = Purchase price per pound - Cash discount per pound
Standard direct materials cost per pound = $2.50 per pound - ($2.50 per pound * 0.03)
Standard direct materials cost per pound = $2.50 per pound - $0.075 per pound
Standard direct materials cost per pound = $2.425 per pound
Finally, we can calculate the standard direct materials cost for one bag of Insect-Be-Gone:
Standard direct materials cost = Standard direct materials cost per pound * Actual quantity of materials used
Standard direct materials cost = $2.425 per pound * 80 pounds
Standard direct materials cost = $194
Question 2 : At a recent seminar you attended, the invited speaker was discussing some of the advantages and disadvantages of standard cost in terms of evaluating performance and motivating goal congruent-behavior on the part of employees. One criticism of standard cost in particular caught your attention. The use of conventional standard cost may not provide appropriate incentives for improvements needed to compete effectively with world-class organizations. The speaker then discussed so-called continuous improvement standard cost. such standards embody systematically lower cost over time. for example, on a monthly basis, it might be appropriate to budget a 10% reduction in per unit direct labour cost assume that the standard wage rate into the foreseeable future is $23 per hour . Assume too, that the budget labour hour standard for october of the current year is 2.80 hours and that this standard is reduced each month by 2%. During december of the current year the company produced 7000 units of XL-10, using 21500 direct labour hours. The actual wage rate per hour in December was $25 
required: 
1.prepare a table that contains the standard labour hour requirement per unit and standard direct labour per unit for the 4 months from october through january 
Solution :

Sun	Mon	Tue	Wed	Thu	Fri	Sat
30	31	1	2	3	4	5
6	7	8	9	10	11	12
13	14	15	16	17	18	19
20	21	22	23	24	25	26
27	28	29	30	1	2	3

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