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Problems 8-12. Standard Cost Sheet Materials and Labor. An industrial solvent with the brand name...

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Problems 8-12. Standard Cost Sheet Materials and Labor. An industrial solvent with the brand name Velocidad is produced by Proveedor Chemical Company in Caracas, Venezuela, and sold in 25-liter drums. Data with respect to materials and labor are as follows: 1. A batch of 1,500 liters of Velocidad is made from an input of 1,500 liters each of Des tino and Promesa. In the boiling operation, 50% of the volume of both Destino and Promesa is lost through evaporation. At the end of the boiling operation, 2 kilograms of Bono are added to each 1,500-liter batch. (This has no measurable effect on volume.) 2. 3 A worker can process one 25-liter drum in 20 minutes. 4. At the final inspection, two 25-liter drums are rejected out of every 10 drums received from the production line. Standard materials prices and the labor rate (in bolivars) are as follows: 5. sio B 200 per liter Promesa B150 per liter Bono Labor rate B 1,200 per hour B 600 per kilogram Question: Prepare a standard cost sheet that shows the standard materials and labor costs for each 25-liter drum of completed product

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