Muscle Concrete Mixes Concrete and Trucks It to Construction Sites

question 10

Essay

Muscle Concrete mixes concrete and trucks it to construction sites. The company uses a standard costing system for the batches of concrete produced. The company has a fleet of 10 mixing trucks, each of which goes on three runs per day, 350 days per year under normal circumstances. The standard costs are as follows:
Standard costs per batch based on 1,050 batches per year Amount
Raw material - gravel, sand, cement, chemicals $1,000
Wages 400
Variable overhead - mixing truck depreciation, diesel fuel, etc. 450
Fixed overhead - depreciation on raw materials silo 400
Total production cost per batch $2,250
Opening inventory cost - all raw materials 1,000,000
Ending inventory cost - all raw material 450,000
During 2013, the company received an unusually large order for a big construction project. As a result, Muscle Concrete had to extend its operating hours and days, temporarily increasing output to 1,250 batches for the year. The company used the first-in, first-out cost flow assumption. Actual variable costs approximated standard costs per batch. Depreciation rates established at the beginning of the year remain valid for the year.
Required:
Determine the amount of cost of goods sold for 2013.

Grasp the socialization process and how it is influenced by various factors including technology, globalization, and social settings.

Recognize the significance and process of resocialization in altering one's social identity.

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Definitions:

Downdropped

Referring to a section of the Earth's crust that has moved downward in relation to adjacent sections, often due to faulting.

Uplifted

Uplifted refers to regions of the Earth's crust that have been raised due to tectonic activities, such as earthquakes or mountain-building processes, altering the landscape and geology.

Glacier

A large, slow-moving mass of ice formed by the compaction and crystallization of snow, found in cold regions and high altitudes.

Tsunami

A large, long high sea wave caused by underwater earthquakes, volcanic eruptions, or landslides.