(Answered) Q1 fiona company ltd has set the following standards to

Accounting

Q1. Fiona Company Ltd has set the following standards to produce one unit of product. Normal production each month is 500 units.

Direct Material	8 Kg@ 6.5 per kg	$52
Direct Labor	4 hours @7.00 per hour	$28

During June, actual production amounted to 420 units. All direct material was purchased and used this month. Actual cost amounted to-

Direct Material	3500kg	$21875
Direct Labor	1720hours	$12212

Determine the standard material quantity allowed for June production. (Show The Workings)

Q3. BeActive Sporting Goods sells tandem bicycles. The following data was taken from the most recent quarterly sales forecast

	Expected Sales Units	Target inventory at the end of the month
April	1400	315
May	1575	412
June	1650	425

BeActive's cost for one bicycle is $125. What dollar amount should the company budget for June purchases?

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