23 Sales Projections in Units#JanuaryFebruaryMarch5678914150 Projected Sales Price/Unit$1112 Monthly Projected Selling & Administrative Expenses1316177 18 9 20 21 2 23 24 25 25 27 28 29 20 31 2 33 4 5 36 37 38 391922AprilMay20 Materials32Variable Cost/UnitFixed Costs34Production:35Desired Ending InventoryBeginning26 Direct LaborInventory (new business)Desired Ending InventoryNumber of Materials per UnitProjected Cost/Material UnitBeginning Inventory (new business)30 Manufacturing OverheadVariable Cost/UnitFixed CostsTime per Unit (in hours)per HourCost21,94528,615$42,94854,52634,817$12.00$ 2,662.00$$206.0052.6%081.0%07.05.001.00$ 16.005.003,909 381011129 Purchased141516Units to be producedMaterial/Unit17Total Production NeedDesired Ending InventoryTotal Materials NeededBeginning InventoryTotal Materials Needed to beCost per Unit of MaterialTotal Material CostMATERIALS REQUIREMENTS BUDGETMaterial/unitCost per Unit of MaterialCost of Material per ProductJanuaryFebruaryMarchApril

Budgeting is a method of estimating expected future outcomes based on past events. Budgeting…

9 14 15 Projected Sales Price/Unit $ 1 2 Monthly Projected Selling & Administrative Expenses 13 16 17 Sales Projections in Units January February March April May 21 22 18 19 20 Materials 23 24 25 28 29 32 88 ल Variable Cost/Unit Fixed Costs 26 Direct Labor 27 Production: 33 Desired Ending Inventory Beginning Inventory (new business) 34 30 Manufacturing Overhead 31 Variable Cost/Unit Fixed Costs Desired Ending Inventory Number of Materials per Unit Projected Cost/Material Unit Beginning Inventory (new business) Time per Unit (in hours) Cost per Hour $ 21,945 28,615 42,948 54,526 34,817 $ 12.00 $ 2,662.00 $ 206.00 $ $ 52.6% 0 81.0% 0 7.0 5.00 1.00 16.00 5.00 3,909

9 14 15 Projected Sales Price/Unit $ 1 2 Monthly Projected Selling & Administrative Expenses 13 16 17 Sales Projections in Units January February March April May 21 22 18 19 20 Materials 23 24 25 28 29 32 88 ल Variable Cost/Unit Fixed Costs 26 Direct Labor 27 Production: 33 Desired Ending Inventory Beginning Inventory (new business) 34 30 Manufacturing Overhead 31 Variable Cost/Unit Fixed Costs Desired Ending Inventory Number of Materials per Unit Projected Cost/Material Unit Beginning Inventory (new business) Time per Unit (in hours) Cost per Hour $ 21,945 28,615 42,948 54,526 34,817 $ 12.00 $ 2,662.00 $ 206.00 $ $ 52.6% 0 81.0% 0 7.0 5.00 1.00 16.00 5.00 3,909

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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INFORMATION RAW MATERIAL STOCK Meters Cost per metre Total amount Opening Balance (1 Jan 2023) Purchases 25 Feb 2023 600 m R39 500 4 215 m R316 710 2 220 m R72.00 R159 840 25 May 2023 1 680 m R78.00 R131 040 25 August 2023 R82.00 R25 830 Returns: (damaged stock) 25 May 2023 195 m R78,00 Closing balance (31 Dec 2023) 495 m Stock sent to the factory 4 125 m The previous bookkeeper prepared a factory overhead cost note but did not take into account the items listed below. Their total was R44 188. Note that the other cost accounts were adjusted accordingly. Rent Expense Water & Electricity Insurance Office sundry expenses 72 252 51 840 22 050 9570 ⚫Rent must be allocated according to floor space occupied. The factory occupies 500 m², the sales department occupies 300 m²and the office occupies 100 m². 75% of the water and electricity relates to the factory. • Insurance on equipment is allocate in the ratio 3:2: 1 between the factory, sales and office departments. Note that insurance is a…
B A Sales 160 200 80 40 Direct material 24 32 16 3 Direct Wages 40 48 32 8 Factory overheads 48 64 40 8 Selling and admin 24 30 12 expenses Profit/loss 24 26 |(20) 15 40% of factory overheads vary at normal volumes and the selling and administation overheads vary at the extent of 5% of sales.20% of sales of product "C"is done in conjunction with productÄ" and as much as the discontinuance of product "C"will bring down the sales of product" A" by 10% (Answer Part 2) 1. Prepare a contribution format income statement and in view of loss reported for product C, the management is considering discounting it. In that eventthe company can save a su of Rs.8 million in fixed expenses What is the financial implication of discounting product C. 2. The P/V ratio of a company is 50% and the margin of safety is 40% You are required to calculate the BEP and the net profit if the volume of sales is Rs.800,000/- 6.
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Question 2 The following monthly data in contribution format are available for the Ross Company and its only product. Product SD: Sales Variable expenses Contribution margin Fixed expenses Net operating income Total $ $ $ $ $ 381,600 304.800 76,800 34,500 42,300 Per Unit $ 5 159 127 32 The company produced and sold 2,400 units during the month and had no beginning or ending inventories. a) What is the current operating leverage? b) Projections indicate that the market will worsen by 15% next month. What is the projected net operating income given this increase?
Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Multiple Choice $133,100 $93,100 Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead $ 40,000 Fixed selling and administrative expense $ 73,500 What is the total period cost for the month under the absorption costing? $40,000 $95 $73,500 5,000 4,900 100 $ 26 $ 40 ta ta ta ta $ $ 4
High-Low Method The manufacturing costs of Ackerman Industries for the first three months of the year follow: Total Costs Units Produced January $219,590 2,710 units February 168,480 1,680 March 262,080 4,080 Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. Round all answers to the nearest whole dollar. a. Variable cost per unit $ b. Total fixed cost
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:
Trio Company reports the following information for its first year of operations. $ 20 per unit $ 21 per unit $ 9 per unit $ 263,250 per year 20,250 units 15,500 units 4,750 units Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory Exercise 19-2 (Algo) Computing unit and inventory costs under variable costing LO P1 Assume instead that Trio Company uses variable costing. 1. Compute the product cost per unit using variable costing. 2. Determine the cost of ending finished goods inventory using variable costing. 3. Determine the cost of goods sold using variable costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the product cost per unit using variable costing. Product cost per unit of finished goods using: Total product cost per unit $ Variable costing 0 per unit
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Exercise 3 (Variable Costing Unit Product Cost and Income Statement; Break-even) PC Desk, Inc., makes an oak desk specially designed for personal computers. The desk sells for P2,000. Data for last year's operations follow: Units in beginning inventor.. Units produced.. Units sold. Units in ending inventory. 10,000 9,000 1,000 Variable costs per unit: Direct materials.. Direct labor Variable manufacturing overhead. Variable selling and administrative Total variable cost per unit. . P 600 300 100 200 P1,200 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative. Total fixed costs... P3,000,000 4,500,000 P7,500,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one computer desk. 2. Assume that the company uses variable costing. Prepare an income statement for the year using the contribution format. 3. What is the company's break-even point in terms of units sold?
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TB Problem 05-212 Pabbatti Corporation, which has only one product ... Pabbatti Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 99 Units in beginning inventory 560 Units produced 2,190 Units sold 2,430 Units in ending inventory 320 Variable costs per unit: Direct materials $ 19 Direct labor $ 22 Variable manufacturing overhead $ 2 Variable selling and administrative $ 12 Fixed costs: Fixed manufacturing overhead $ 56,940 Fixed selling and administrative $ 7,290 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. (Hint: Use the reconciliation method.) Required: a. What is the unit product cost for the month under variable costing? b. Prepare a…