A company manufactured 50,000 units of a product at a cost of $450,000. It sold 45,000 units at $15 each. The gross profit is
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- During the year, sales were $300,000. The unadjusted balance of Cost of Goods Sold was $225,000. Overapplied manufacturing overhead was $5,000. What is the gross profit on sales? a. 300,000 b. 80,000 c. 220,000 d. 180,000Given the following information, determine the amount of Profit or Loss: Cost of sales: $46,000 Cost of labor: $54,000 Cost of overhead: $39,000 Total Sales: $120,000The following information pertains to ABC Company: Manufacturing costs: $2,240,000 Units manufactured: 32,000 Price per unit: $110 per unit Beginning inventory: 1,500 units Ending inventory: 4,000 units What is the amount of ABC Company’s gross margin?
- The following information relates to the Magna Company for the upcoming year, based on 490,000 units. Amount Per Unit Sales $ 4,900,000 $ 10.00 Cost of goods sold 3,920,000 8.00 Gross margin 980,000 2.00 Operating expenses 367,500 0.75 Operating profits $ 612,500 $ 1.25 The cost of goods sold includes $1,470,000 of fixed manufacturing overhead; the operating expenses include $122,500 of fixed marketing expenses. A special order offering to buy 86,000 units for $9.30 per unit has been made to Magna. Fortunately, there will be no additional fixed expenses associated with the order and Magna has sufficient capacity to handle the order. How much will operating profits be increased if Magna accepts the special order?The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been: a. $20,000 b. $50,000 c. $110,000 d. $150,000The following information relates to the Jasmine Company for the upcoming year, based on 424,000 units: Amount Per Unit Sales $ 8,480,000 $ 68.00 Cost of goods sold 6,784,000 40.00 Gross margin 1,696,000 28.00 Operating expenses 960,000 7.50 Operating profits $ 736,000 $ 20.50 The cost of goods sold includes $2,289,600 of fixed manufacturing overhead; the operating expenses include $281,600 of fixed marketing expenses. A special order offering to buy 74,000 units for $19.80 per unit has been made to Jasmine. Fortunately, there will be no additional fixed costs associated with the order and Jasmine has sufficient capacity to handle the order. How much will operating profits increase if Jasmine accepts the special order? Multiple Choice $185,000 $74,000 $562,400 $370,000
- Mine Company produced 1,000 units of a product at a selling price of P95.00 each. Direct materials P30, Direct Labor P15, Factory overhead P 20,000.00. Selling and administrative incurred P10,000.00. How much is the gross profit per unit P 30.00 P 20.00 P 75.00 P 10.00The following information relates to the Jasmine Company for the upcoming year: Sales Amount Per Unit Sales $8,120,000 6,496,000 $32.00 Cost of goods sold Gross margin Operating expenses 22.00 1,624,000 10.00 690,000 3.00 Operating profits $ 934,900 $ 7.00 The cost of goods sold includes $2,375,100 of fixed manufacturing overhead; the operating expenses include $223,100 of fixed marketing expenses. A special order offering to buy 56.000 units for $16.20 per unit has been made to Jasmine. Fortunately, there will be no additional operating expenses associated with the order; however, Jasmine is operating at full capacity. How much will operating profits increase if Jasmine accepts the special order? Multiple Choice $280,000. $140,000. $56,000. Operating profits will not increase as a result of accepting the special order.Wu Company incurred $40,000 of fixed cost and $50,000 of the variable cost when 4,000 units of products were made and sold. If the company's volume increases to 5,000 units, the total cost per unit will be: a. $18.00. b. $20.00. c. $20.50. d. $22 50.
- Last year, Regio Company incurred the following costs: Direct materials 50,000 Direct Labor 20,000 Manufacturing overhead 130,000 Selling expense 40,000 Administrative expense 36,000 Regio produced and sold 10,000 units at a price of 31 each. 1. What is the prime cost per unit? 2. What is the conversion cost per unit? 3. What is the cost of goods sold per unit 4. What is the gross profit per unit? 5. What is the operating income?General AccountingWu Company incurred $40,000 of fixed cost and $50,000 of variable cost when 4,000 units of product were made and sold. If the company's volume doubles, what happens to the total cost per unit?
