Fruit Snacks, Posters Now, Posters Now, Walker Corporation, For the third quarter

# Fruit Snacks, Posters Now, Posters Now, Walker Corporation, For the third quarter

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 companys products-fruit chews.The data below pertain only to the fruits used in the productMaterial requirements, kilograms of fruits per dozen bags 0.95 kilogramsAllowance for waste, kilograms of fruits per dozen bags 0.06 kilogramsAllowance for rejects, kilograms of fruits per dozen bags 0.04 kilogramsPurchase price, fruit \$7.50 per kilogramPurchase discount 4% of purchase priceShipping cost from the supplier \$0.30 per kilogramReceiving and handling cost \$0.l0 per kilograma. Determine the standard price of a kilogram of fruits. Show computationsb. Determine the quantity of fruits for one dozen bags. Show computations2. Posters Now uses a standard cost system. Job 67 is for the manufacturing of 800 units of the product P100. The company standards for one unit of the product P100 are as follows:Standard quantity: 11 ouncesStandard price: \$3 per ounceStandard direct labor: 1.5 hoursStandard labor rates: \$12 per hourThe job required 8000 ounces of raw material costing \$26,100.a. What is the materials price variance? Show computationsb. What is the materials quantity variance? Show computations3. Posters Now uses a standard cost system. Job 67 is for the manufacturing of 800 units of the product P100. The company standards for one unit of the product P100 are as follows: Standard quantity: 11 ouncesStandard price: \$3 per ounceStandard direct labor: 1.5 hoursStandard labor rates: \$12 per hourThe job required 8000 ounces of raw material costing \$26,100. The job also used 1,250 labor hours at rate of \$12.20 per hour.a. What is the labor rate variance? Show calculationsb. What is the labor efficiency variance? Show calculations4. Walker Corporation is a distributor of several products. They used 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 companys overhead 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 hours. a. What is the variable overhead spending variance? Show calculationsb. What is the variable overhead efficiency variance? Show calculations 5. For the third quarter of the year, the following data was reported:Inspection time 1.4 daysProcess time 4.5 daysWait time 12.0 days (the time between the customer order and the beginning of production)Queue time 3.9 daysMove time 0.8 days a. What is the throughput time? Show calculationsb. What is the manufacturing cycle efficiency for the quarter? Show calculationsc. What is the delivery cycle time? Show calculations