Lionel, Inc The Actual Prices Paid Per Unit of Each Activity Driver

question 106

Essay

Lionel, Inc., has developed ideal standards for four activities: labor, materials, inspection, and receiving.
Information is as follows: $$\begin{array} { l l r r r } \text { Activity } & \text { Activity Driver } & \mathrm { SQ } & \mathrm { AQ } & \mathrm { SP } \\\text { Labor } & \text { Hours } & 500 & 550 & \$ 32 \\\text { Materials } & \text { Pounds } & 2,000 & 2,500 & 48 \\\text { Inspection } & \text { Inspection hours } & 0 & 375 & 22 \\\text { Receiving } & \text { Orders } & 60 & 75 & 800\end{array}$$
The actual prices paid per unit of each activity driver were equal to the standard prices.
Required:
Complete the following cost report:
$\begin{array} { l }\text { Activity }&\text { Value-Added } & \text { Non-value-Added } & \text { Actual }\\\hline \text { Labor}&\$\_\_\_&\$\_\_\_&\$\_\_\_\\ \text {Materials }\\ \text { Inspection}\\ \text {Receiving }\\ \text { Totals}&\$\_\_\_&\$\_\_\_&\$\_\_\_\\\end{array}$

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Definitions:

Mortality Rate

A measure of the frequency of occurrence of death in a defined population during a specific time period.

Widowhood

The status of a person who has lost a spouse through death and has not remarried.

Spouses

Partners in a marriage or a similar intimate relationship recognized legally, socially, or religiously.

Anxiety And Depression

Conditions characterized by persistent worry, fear, sadness, and a lack of interest in life that interfere with daily activities.