17 The following information relates to a factory for different capacity levels e production. Capacity Level of Production 60% 70% 80% Production (Units) 6,000 7,000 8,000 Raw Materials Direct Wagess Production Overheads 2,40,000 1,80,000 1,26,000 2,80,000 2,10,000 3,20,000 2,40,000 1,32,000 1.38,000 Total Cost Profit 5,46,000 54,000 6,22,000 78,000 6.98,000 1,02.000 Sales 6,00,000 7,00,000 8,00,000 Calculate Break-even Sales Volume.

17 The following information relates to a factory for different capacity levels e production. Capacity Level of Production 60% 70% 80% Production (Units) 6,000 7,000 8,000 Raw Materials Direct Wagess Production Overheads 2,40,000 1,80,000 1,26,000 2,80,000 2,10,000 3,20,000 2,40,000 1,32,000 1.38,000 Total Cost Profit 5,46,000 54,000 6,22,000 78,000 6.98,000 1,02.000 Sales 6,00,000 7,00,000 8,00,000 Calculate Break-even Sales Volume.

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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15 Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $ 6.20 $ 3.70 $ 1.60 $ 4.00 $ 3.20 $ 2.20 $ 1.20 $ 0.45 10. If 12,500 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production? Total foxed manufacturing cost
%24 Kesterson Corporation has provided the following information: Cost Cost per Period per Unit $7.20 $4.30 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense 09 $2.20 $0.50 If 7,500 units are produced, the total amount of indirect manufacturing cost incurred is closest to: Multiple Cholce $12,000 O $36.750 re to search F4 F5 F7 F8 F10 てい1 Coca %23 V
TF 3 The following data was prepared by the Oriole Company. Total Variable Fixed Sales price $22/unit Direct materials used $82,650 Direct labor $96,000 Manufacturing overhead $113,670 $17,910 $95,760 Selling and administrative expense $22,700 $13,100 $9,600 Units manufactured 25,200 units Beginning Finished Goods Inventory 19,200 units Ending Finished Goods Inventory 7,000 units Cost of goods sold $ Under variable costing, what is the cost of goods sold? (Round cost per unit to 2 decimal places, e.g. 2.52 and final answer to 0 decimal place, e.g. 2,152.) Cost of goods sold$ Under absorption costing, what is the operating income? (Round cost per unit to 2 decimal places, e.g. 2.52 and final answer to 0 decimal place, e.g. 2,152.) Operating income $ Under variable costing, what is the operating income? (Round cost per unit to 2 decimal places, e.g. 2.52 and…
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Exercise 18-8 (Algo) Computing missing amounts in contribution margin Income statements LO A1 Compute the missing amounts in the contribution income statement shown below: (Round "Per Unit" answers to 2 decimal places.) Company A Company B Number of units sold Sales Variable costs Contribution margin Fixed costs Income 2,375 Total $ 465,000 $ 97.00 Per unit Total Per unit 302,400 123,500 166,250 $ 108,000 61,750
1- Chapter 1 Assignment i 1 of 15 € a 19 2 Total manufacturing overhead cost Manufacturing overhead per unit 4# Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Okay 3 4 Y A Saved 11. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) & LO 5 * Help 6 Save & Exit 7 Average Cost per Unit $7.00 $4.50 $ 1.40 $ 4.00 $4.00 $ 2.10 $ 1.10 $ 0.55 You Check my work 8 Submit 9 } 11 0 d
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PROBLEM 2. The management of B Company uses the following unit costs for the one product it manufactures Projected Cost Per Unit Direct Materials P30.00 Direct Labor 19.00 Variable Overhead 6.00 Fixed overhead (based on 10,000 units per month) 5.00 Variable selling and administrative Fixed selling and administrative (based on 10,000 units per month) 4.00 2.80 Units Beginning Inventory 2,000 Production 9,000 Available 11,000 Sales 7,500 Ending Inventory 3,500 REQUIRED: prepare projected income statements for June 2018 for management purposes under each of the following product costing methods: 1. Absorption costing with all variances charged to cost of goods sold for each month. 2. Direct (variable) costing 3. Supporting schedules calculating inventoriable production costs per unit. Ignore income taxes.
Details Product J Product G Product P Total Direct $25 $20 $11 $12,38,000 Material Cost Direct Labor 4/3 1 88,000 Hours Machine 4/3 1 76,000 Hours Direct Labor $8 $12 $6 Cost No. of 3 7 20 30 production run No. of 3 20 32 Deliveries No. of 15 35 220 270 Receipts (2*7) No. of 15 10 25 50 production orders Production 30,000 20,000 8,000 and sales units Raw material 11 usage units The total overhead costs is $18,48,000. Set-up 1.623377%, Machines 41.125541%, Receiving 23.538961%, Packing 13.528139% and Engineering 20.183983% of total overhead costs. The company operates a just-in-time inventory policy, and receives each component once per production per run. In the past the company has allocated overheads to products on the basis of direct labor hours. However, the majority of overheads are more closely related to machine hours than direct labor hours. The company has recently redesigned its cost system by recovering overheads using two volume-related bases: machine hours and materials…
2uestion 3: PQ Itd. is manufacturing product X and Y only. It provides the following information X Sales X – 70,000 units @ $12 $ 840,000 Sales Y – 90,000 units @ $8 Total Material Cost ($259,000) Total Labor Cost ($233,000 Total Overheads ($190,000) Profit/(Loss) $158,000 Additional Information: Labour includes fixed cost $65,000 Overheads include fixed cost $36,000 Required: Calculate the Contribution per unit of Y & interpret the answers. Part B Raw materials Purchases ... $290,000 Manufacturing overhead applied to work in process. . $285,000 Total actual manufacturing overhead costs. .... $270,000 Selling expenses.. $140,000 Direct labor....? Admin expenses. $100,000 Inventory balances were as follows: Beginning of Year $40,000 End of Year Raw materials Work in process Finished goods. $10,000 $35,000 $50,000 Cost of goods available for sale $740,000; Net operating income was $30,000. Unadjusted cost of goods sold totaled $660,000; Total manufacturing costs for the year were…
Units in beginning inventory 0 Units produced 18,000 Units sold 15,000 Units in ending inventory 3,000 Variable costs per unit: Direct materials $ 270 Direct labor $ 380 Variable manufacturing overhead $ 48 Variable selling and administrative $ 21 Fixed costs: Fixed manufacturing overhead $ 650,000 Fixed selling and administrative $ 480,000 1.Absorption costing unit product cost: 2.Variable costing unit product cost: