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F2 Standard Costing

Forums › ACCA Forums › General ACCA Forums › F2 Standard Costing

  • This topic has 0 replies, 1 voice, and was last updated 12 years ago by rissalewis.
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  • April 24, 2013 at 4:46 pm #123417
    rissalewis
    Member
    • Topics: 2
    • Replies: 3
    • ☆

    Could someone explain the solution for this question?

    JC Co operates a bottling plant. The liquid content of a filled bottle of product T is 2 litres. During the filling process there is a 30% loss of liquid input due to spoilage and evaporation. The standard price of the liquid is $1.20 per litre. The standard cost of the liquid per bottle of product T, to the nearest cent, is

    A. $2.40
    B. $2.86
    C. $3.12
    D. $3.43

    ANSWER:

    D. $3.43

    Required liquid input = 2 litres x 100/70 = 2.86 litres

    Standard cost of liquid input = 2.86 x $1.20 = $3.43

    (My question): What confuses me is the required input. I would think it to be 2 litres + the 30% loss in litres, then multiplied by the unit cost.

    HELP PLEASE!!

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