A1 Addison, Inc. makes a single product, an indoor fireplace. Data for last year is as follows:2$4203 Selling price per fireplace4 Manufacturing costs:Variable per unit produced:6.Direct materials$135Direct labor$438.$37Variable manufacturing overheadFixed manufacturing overhead per year10 Selling and administrative expenses:11 Variable per unit sold12 Fixed per year9.$210,000$45$190,0001314 Units in beginning inventory15 Units produced during the year16 Units sold during the year5,0004,5001718 Use the data to answer the following.19A20 1. Assume the company uses variable costing:2122 Compute the unit product cost for one fireplace2324 Prepare a contribution margin income statement for the year2526 Sales27 Variable expenses:28 Variable cost of goods sold29 Variable selling and administrative expenses30 Contribution margin31 Fixed expenses:32 Fixed manufacturing overhead33 Fixed selling and administrative expenses34 Net operating income3536 Compute the number of fireplaces required to breakeven3738 2. Assume the company uses absorption costing:3940 Compute the unit product cost for one fireplace4142 Prepare an income statement for the year4344 Sales45 Cost of goods sold46 Gross margin47 Selling and administrative expenses48 Net operating income49

Name: A1 Addison, Inc. makes a single product, an indoor fireplace. Data fo
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: A1 Addison, Inc. makes a single product, an indoor fireplace. Data for last year is as follows:2$4203 Selling price per fireplace4 Manufacturing costs:Variable per unit produced:6.Direct materials$135Direct labor$438.$37Variable manufacturing overhe

The income statement can be prepared using various approaches as variable costing and absorption…

Business

Accounting

A Addison, Inc. makes a single product, an indoor fireplace. Data for last year is as follo $420 - Selling price per fireplace - Manufacturing costs: Variable per unit produced: Direct materials $135 Direct labor $43 $37 Variable manufacturing overhead eFixed manufacturing overhead per year 0 Selling and administrative expenses: 1 Variable per unit sold 2 Fixed per year 13 14 Units in beginning inventory 15 Units produced during the year 16 Units sold during the year 17 18 Use the data to answer the following. $210,000 $45 $190,000 5,000 4,500 19

A Addison, Inc. makes a single product, an indoor fireplace. Data for last year is as follo $420 - Selling price per fireplace - Manufacturing costs: Variable per unit produced: Direct materials $135 Direct labor $43 $37 Variable manufacturing overhead eFixed manufacturing overhead per year 0 Selling and administrative expenses: 1 Variable per unit sold 2 Fixed per year 13 14 Units in beginning inventory 15 Units produced during the year 16 Units sold during the year 17 18 Use the data to answer the following. $210,000 $45 $190,000 5,000 4,500 19

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It d Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $795. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Required: 0 13,000 10,000 3,000 $ 180 $ 390 $ 51 $ 23 $ 700,000 $ 430,000 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. > Answer is complete but not entirely correct. 1.…
please show the calculation used to fill each answer box. Thank you
Jayleen company makes two products: Carpet Kleen and Floor Deodorizer. Operating information from the previous year follows: Units produced and sold of Carpet Kleen = 5,000 Units produced and sold of Floor Deodorizer = 4,000 Machine hours used for Carpet clean = 5,000 Machine hours used for Floor Deodorizer = 1,000 Sales price per unit of carpet clean = $9 Sales price per unit of Floor Deodorizer = $15 Variable cost per unit of Carpet Clean = $7 Variable cost per unit of Floor deodorizer = $13 Fixed costs of $37,000 per year are presently allocated equally between both products. If the product mix were to changed, total fixed costs would remain the same. Assuming there is unlimed demand for both products and Jaleen has 18,500 hours available, how many units of each product should be produced and sold?
Liam Wallace is general manager of Worldwide Salons. During 2018Wallace worked for the company all 18, 1 year at a $ 12,900 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary Wallace's federal income tax withheld during 2018 was $1,161 per month, plus $2,322 on his bonus check. State income tax withheld came to $170 per month , plus $110 on the bonus . FICA tax was withheld on the annual earnings . Wallace authorized the following payroll deductions : Charity Fund contribution of 4% of total earnings and life insurance of $35 per month Worldwide incurred payroll tax expense on Wallace for FICA tax . The company also paid state unemployment tax and federal unemployment tax . Requirement 4. Make the journal entry to record the accrual of Worldwide's payroll tax expense for Wallace's total earnings.
Mcdale Incorporated produces and sells two products. Data concerning those products for the most recent month appear below. Product 149V Product Z500 Sales $ 14,000 Variable expenses $ 15,000 $ 3,300 $ 2,790 The fixed expenses of the entire company were $18,460. The break-even point for the entire company is closest to: Multiple Choice $23,367 $10,540 $24,550 $18,460
answer in text form please (without image)
Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $845, Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs : Fixed manufacturing overhead Fixed selling and administrative 19,000 16,000 3,000 $ 260 $ 340 $ 57 $ 22 $ 910,000 $ 930,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gahelan. 1. Absorption costing unit product cost 2. Variable costing unit product cost
Cop
D8.
Answer all the requirement, answer in text form please (without image)
Get Answer