Question

Assume your company sells bags of one dozen chocolate chip cookies. These cookies are made in...

Assume your company sells bags of one dozen chocolate chip cookies. These cookies are made in your kitchen for now, as your company is just starting up. Estimate the direct materials and direct labor inputs needed to produce each bag of cookies. For each type of direct material (e.g., flour, sugar, etc.) and direct labor, determine the standard quantity and standard price. Since the cookies are made in your kitchen, you can ignore overhead costs. The result should be a total standard cost (excluding overhead) for the product or service.

DO YOUR OWN ESTIMATES ( MAKE UP ESTIMATES ON YOUR OWN)

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Total Standard Cost for Producing one dozen chocolate chip cookies  

Particulars Quantity Rate Total Standard Cost
1.Direct Materials
Flour 5Kg $2.00 $10.00
Sugar 2Kg $1.00 $2.00
Other Materials 1kg $1.00 $1.00
2.Direct Labour 8 Hours $1.50 $12.00
Total Standard Cost $25.00

Note : The quantity and rates are based on totally assumption and the expert had no idea of rates in the respective country.

Add a comment
Know the answer?
Add Answer to:
Assume your company sells bags of one dozen chocolate chip cookies. These cookies are made in...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...

    The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with a mean of 1261 chips and a standard deviation of 117 chips. (a) Determine the 28th percentile for the number of chocolate chips in a bag. (b) Determine the number of chocolate chips in a bag that make up the middle 98% of bags. (c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip cookies?

  • The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed...

    The number of chocolate chips in a bag of chocolate chip cookies is approximately normally distributed with a mean of 1261 chips and a standard deviation of 117 chips. ​(a) Determine the 25th percentile for the number of chocolate chips in a bag. ​(b) Determine the number of chocolate chips in a bag that make up the middle 96​% of bags. ​(c) What is the interquartile range of the number of chocolate chips in a bag of chocolate chip​ cookies?...

  • Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies Chocolate...

    Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies Chocolate chips Flour Butter Sugar Other ingredients Labor wages Rent on manufacturing space Utilities (paid at a fixed monthly rate) Depreciation on kitchen equipment $58.00 $ 30.00 $61.50 $ 30.00 $ 35.00 S 300.00 S 300.00 $ 54.00 $ 82.00 Calculate each of the following a. The total variable cost this month. (Round your answer to 2 decimal places) Total Variable Cost b. The total...

  • Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate...

    Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate chips $ 57.00 Flour $ 39.00 Butter $ 49.50 Sugar $ 32.00 Other ingredients $ 33.00 Labor wages $ 350.00 Rent on manufacturing space $ 250.00 Utilities (paid at a fixed monthly rate) $ 55.00 Depreciation on kitchen equipment $ 85.00 e. The total variable cost if Cactus Cookies had manufactured 2,000 cookies this month. (Do not round your intermediate calculations.) f. The total...

  • Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate...

    Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate chips $ 56.00 Flour $ 35.00 Butter $ 64.50 Sugar $ 31.00 Other ingredients $ 31.00 Labor wages $ 300.00 Rent on manufacturing space $ 300.00 Utilities (paid at a monthly rate) $ 54.00 Depreciation on kitchen equipment $ 89.00 Calculate each of the following: a. The total variable cost this month. (Round your answer to 2 decimal places.) b. The total fixed cost...

  • find the probability The number of chocolate chips in an 18-ounce bag of chocolate chip cookies...

    find the probability The number of chocolate chips in an 18-ounce bag of chocolate chip cookies is approximately normally distributed with a mean of 1252 chips and standard deviation 129 chips. (a) What is the probability that a randomly selected bag contains between 1100 and 1400 chocolate chips, inclusive? (b) What is the probability that a randomly selected bag contains fewer than 1100 chocolate chips? (c) What proportion of bags contains more than 1200 chocolate chips? (d) What is the...

  • Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate...

    Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate chips Flour Butter Sugar Other ingredients Labor wages Rent on manufacturing space Utilities (paid at a monthly rate) Depreciation on kitchen equipment $ 55.00 $ 35.00 $ 67.50 $ 36.00 $ 31.00 $350.00 $ 300.00 $ 60.00 $ 90.00 Calculate each of the following: a. The total variable cost this month. (Round your answer to 2 decimal places.) Total Variable Cost b. The total...

  • This module has focused on different business costs. For this week’s paper, go to your local...

    This module has focused on different business costs. For this week’s paper, go to your local grocery store and price the ingredients for baking chocolate chip cookies. For simplicity, assume the ingredients for three dozen cookies are: One 16 oz. box of sugar = $1.79 One 12 oz. bag of chocolate chips = $1.99 One 2 lb. bag of flour = $1.99 One dozen eggs = $1.29 A fixed cost of $30 to rent a kitchen with an oven for...

  • value: 0.64 points Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate...

    value: 0.64 points Cactus Cookies incurred the following costs this month to manufacture 1,000 jumbo chocolate chip cookies. Chocolate chips Flour Butter Sugar Other ingredients Labor wages Rent on manufacturing space Utilities (paid at a fixed monthly rate) Depreciation on kitchen equipment $59.00 $ 36.00 $63.50 $31.00 $ 31.00 350.00 350.00 57.00 $ 90.00 5 Calculate each of the following: a. The total variable cost this month. (Round your answer to 2 decimal places.) Total Variable Cost 570.50 ie if...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT