3. If 7,020 units are produced during a month, what would be the cost of goods manufactured? Assume that work in processinventories do not change.Cost of goods manufactured2S3ED$4RF%5TG< Prev(013 of 17MacBook ProYH&‒‒‒7UNext >8G- 0K0 stiSarnia Ltd. is a manufacturing company that produces a single product. The company keeps meticulous records of manufacturingactivities from which the following information has been extracted:Number of units producedCost of goods manufacturedWork in process inventory, beginningWork in process inventory, endingDirect materials cost per unitDirect labour cost per unitManufacturing overhead cost, totalMarch-Low6,020$171,360$ 10,800$ 18,000$$Manufacturing overhead cost for MarchManufacturing overhead cost for June610?June-High9,030$264,000$ 38,400$ 25,200610?The company's manufacturing overhead cost consists of both variable and fixed cost elements. To have data available for planning,management wants to determine how much of the overhead cost varies with the number of units produced versus how much is fixedper month.Required:1. For both March and June, estimate the amount of manufacturing overhead cost added to production.2. Using the high-low method, estimate a cost formula for manufacturing overhead.

The costs are classified as fixed and variable costs. The high low method is used to separate the…

3. If 7,020 units are produced during a month, what would be the cost of goods manufactured? Assume that work in process inventories do not change. Cost of goods manufactured < Prev ‒‒‒ 13 of 17 t MacBook Pro Next >

3. If 7,020 units are produced during a month, what would be the cost of goods manufactured? Assume that work in process inventories do not change. Cost of goods manufactured < Prev ‒‒‒ 13 of 17 t MacBook Pro Next >

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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YPLUS Kimmel, Accounting, 7e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT National Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. RESOURCES OMEWORK --05 -07 -09 -11 a-b Per Unit Total Direct materials $21 -16 Direct labor $41 --01A -02A -03A Variable manufacturing overhead Fixed manufacturing overhead $14 $1,264,000 Variable selling and administrative expenses $ 4 Fixed selling and administrative expenses $ 1,106,000 Its by Study These costs are based on a budgeted volume of 79,000 units produced and sold each year. National uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%. Compute the total variable cost per unit, otal fixed cost per unit, and total cost per unit for M14-M16. Variable cost per unit 2$ Fixed cost per unit Total cost per unit 24 MacBook
ces Mc Graw Hill 2 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: 2 Direct materials Direct labor S 15. What incremental manufacturing cost will Martinez incur if it increases production from 10,000 to 10,001 units? (Round your answe. to 2 decimal places.) Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense W Incremental cost per unit produced mmand X H #3 E D C ZE $ 4 R F < Prev % 5 V T Average Cost per Unit $7.00 $ 4.50 $ 1.40 $ 4.00 $ 4.00 $ 2.10 G A 6 $ 1.10 $ 0.55 B ස 15 of 15 tv ♫ Y H & 7 U N Next D * 00 8 J 1 M 2023-01...0.40 PM 2023-01...2.52 PM 2022- ( 9 < K A * O ) 0 < H L P A command I a
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uestions | bartleby G How many units must be in... My Home CengageNOWv2| Online te.. eBook Show Me How A production department within a company received materials of $10,000 and conversion costs of $8,000 from the prior department. It added material of $36,500 and conversion costs of $70,750. The equivalent units are 25,000 for material and 22,500 for conversion. What is the unit cost for materials and conversion? When required, round final answers to two decimal places. Unit Cost Materials Conversion $ + %24
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Yuzu: Cost Manac X Q companies using X Process Costing S X a Search Are firms that pro x + 333/epubcfi/6/42[%3Bvnd.vst.idref%3Dchapter06]!/4/38/64/28/2[E6-29]/4/3:5[he%20... A 6-29 Process Costing in Sugar Manufacturing The food-processing industry, like most process industries, is a common user of process costing. Consider, for example, the sugar manufacturing industry. The processes in sugar manufacturing can differ depending on the agricultural product used to produce sugar. When sugar cane is used, the sequence of processes looks something like this: * First: Cane shredding The sugar cane is shredded into small pieces to facilitate its movement through the milling machine. Second: Milling The shredded cane is crushed between the rollers in the milling machine to produce the cane juice. Third: Heating and adding lime In this step, the cane juice is heated to concentrate the juice, and lime is added to reduce acidity. Fourth: Clarifying Impure elements are removed from the juice.…
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