Kubin Company's relevant range of production is 21,000 to 25,000 units. When it produces and sells 23,000 units, itsaverage costs per unit are as follows:Direct materialsDirect laborVariable manufacturing overheadFixed manufacturing overheadFixed selling expenseFixed administrative expenseSales commissionsVariable administrative expenseAverageCost perUnit$ 8.10$ 5.10$ 2.60Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4]1. Total amount of product cost2. Total amount of period cost incurred3. Total amount of product cost4. Total amount of period cost$6.10$4.60$ 3.60$ 2.10$ 1.60Required:1. For financial accounting purposes, what is the total amount of product costs incurred to make 23,000 units?2. For financial accounting purposes, what is the total amount of period costs incurred to sell 23,000 units?3. For financial accounting purposes, what is the total amount of product costs incurred to make 25,000 units?4. For financial accounting purposes, what is the total amount of period costs incurred to sell 21,000 units?(For all requirements, do not round intermediate calculations.)$ 503,700

Product costs are the costs directly related to a product's production. Product cost includes - Raw…

1. For financial accounting purposes, what is the total amount of product costs incurred to make 23,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 23,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 25,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 21,000 units?

1. For financial accounting purposes, what is the total amount of product costs incurred to make 23,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 23,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 25,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 21,000 units?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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eBook Show Me How Calculator E Print Item Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production $65,000 Direct labor 75,000 Factory overhead 27,000 Work in process inventory, March 1 54,000 Work in process inventory, March 31 41,990 Finished goods inventory, March 1 24,000 Finished goods inventory, March 31 16,000 a. For March, determine the cost of goods manufactured. く Using the data given, prepare a statement of Cost of Goods Manufactured. Timbuk 3 Company Statement of Cost of Goods Manufactured KSHEET.A... 24 $4 Total manufacturing costs incurred during March Total manufacturing costs NKSHEET.A... LANKSHEET Cost of goods manufactured CEL.ALGO Check My Work 5 more Check My Work uses remaining. D items : 30% All work saved. MacBook Pro 20 F1 F2 F3 F4 F5 F6 F7 F8 %23 LC
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Tennair Corporation manufactures cooling system components. The company has gathered the following information about two of its customers: Evans Equipment and Rogers Refrigeration. Evans Equipment Sales revenue Rogers Refrigeration $ 160,000 61,000 Cost of goods sold General selling costs $ 229,000 102,000 37,000 23,800 28,500 General administrative costs 17,850 Cost-driver data used by the firm and traceable to Evans and Rogers are: Customer Activity Sales activity Order taking Special handling Special shipping Customer Activity Sales activity Order taking Special handling Special shipping Cost Driver Sales visits Sales orders Units handled Shipments Evans Equipment 12 visits 31 orders 460 units. 33 shipments Pool Rate $ 970 278 44 460 Rogers Refrigeration 9 visits 36 orders 410 units 44 shipments Required: A. Perform a customer profitability analysis for Tennair. Compute the gross margin and operating income on transactions related to Evans Equipment and Rogers Refrigeration.
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The Dorilane Company produces a set of wood patio furniture consisting of a table and four chairs. The company has enough customer demand to justify producing its full capacity of 3,800 sets per year. Annual cost data at full capacity follow: Direct labor Advertising Factory supervision Property taxes, factory building Sales commissions Insurance, factory Depreciation, administrative office equipment Lease cost, factory equipment Indirect materials, factory Depreciation, factory building Administrative office supplies (billing) Administrative office salaries Direct materials used (wood, bolts, etc.) Utilities, factory $ 89,000 $ 103,000 $70,000 $ 23,000 $ 65,000 $ 6,000 $ 2,000 $ 17,000 $ 18,000 $ 106,000 $ 5,000 $ 111,000 $ 426,000 $ 46,000 Required: 1. Enter the dollar amount of each cost item under the appropriate headings. Note that each cost item is classified in two ways: first, as variable or fixed with respect to the number of units produced and sold; and second, as a selling…
An analyst is constructing a simple model to determine the gross and net profit of a product, given its profit per unit, quantity sold, and the total costs assigned to the product. The calculation for gross profit is Profit per Unit times Quantity. The calculation for Net Profit is Gross Profit minus Total Costs. A B 1. 2 Profit per Unit 8 3 Quantity |10,100 4 Gross Profit 5 6 Total Costs 6,100 7 8 Net Profit With the values for Profit per Unit, Quantity, and Total Costs shown above, what should the model return for the following calculated cells? Cell Value Gross Profit Net Profit
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