A business has prepared the following standard cost card based on producing and selling 15,000 units per month:                                                             $ Selling price                                        10 Variable production cost                     3 Fixed production cost                         1 Profit per unit                                      6           Actual production and sales for month 1 were 12,000 units and this resulted in the following:                                                               $000 Selling price                                        124 Variable production cost                     40 Fixed production cost                         9 Profit per unit                                      75 Question: 1. What is the actual selling price per unit? (2 decimal places, no dollar sign) 2. What is the total fixed production cost under flexed budget? (no dollar sign and comma) 3. What is the total variable production cost under fixed budget? (no dollar sign and comma) 4. What is the gross profit under flexed budget? (no dollar sign and comma)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A business has prepared the following standard cost card based on producing and selling 15,000 units per month:

                                                            $

Selling price                                        10

Variable production cost                     3

Fixed production cost                         1

Profit per unit                                      6        

 

Actual production and sales for month 1 were 12,000 units and this resulted in the following:

 

                                                            $000

Selling price                                        124

Variable production cost                     40

Fixed production cost                         9

Profit per unit                                      75

Question:
1. What is the actual selling price per unit? (2 decimal places, no dollar sign)

2. What is the total fixed production cost under flexed budget? (no dollar sign and comma)

3. What is the total variable production cost under fixed budget? (no dollar sign and comma)

4. What is the gross profit under flexed budget? (no dollar sign and comma)

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