Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. oxford corporation produces a product that require

Oxford Corporation produces a product that requires 3.3 pounds of materials per unit. The allowance...

60.1K

Verified Solution

Question

Accounting

image
Oxford Corporation produces a product that requires 3.3 pounds of materials per unit. The allowance for waste and spoilage per unit is 2 pounds and 4 pounds, respectively. The purchase price is $4 per pound, but a 2% discount is usually taken. Freight costs are $.09 per pound, and receiving and handling costs are $.04 per pound. The hourly wage rate is $22.00 per hour, but a raise which will average $1.50 will go into effect soon. Payroll taxes are $1.40 per hour, and fringe benefits average $1.90 per hour. Standard production time is 1.5 hours per unit, and the allowance for rest periods and setup is. 4 hours and 2 hours, respectively. What is the standard direct materials price per pound? Round to two decimal places. Do not use a dollar sign. What is the standard direct labor hours per unit? Round to two decimal places

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students