A Stone Age Surfboards Data Department Graystone Fabrication 2.5 Finishing 2 Profit/Unit $40.00 10 11 12 Model 13 Graystone Lava 14 Quantity Produced 15 Fabrication 16 Finishing 17 18 19 Market Mixture 20 21 22 Profit Contribution What is the quantity of Graystone surfboards produced? 7 1 2 3 4 5 6 7 8 9 10 2 5 B C Product Lava 4.2 3.6 $60.00 D Limitations (hours) 74 30 Hours Used Excess Lava Total Profit

A Stone Age Surfboards Data Department Graystone Fabrication 2.5 Finishing 2 Profit/Unit $40.00 10 11 12 Model 13 Graystone Lava 14 Quantity Produced 15 Fabrication 16 Finishing 17 18 19 Market Mixture 20 21 22 Profit Contribution What is the quantity of Graystone surfboards produced? 7 1 2 3 4 5 6 7 8 9 10 2 5 B C Product Lava 4.2 3.6 $60.00 D Limitations (hours) 74 30 Hours Used Excess Lava Total Profit

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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TB Problem Qu. 11-170 Zee Corporation has developed the following... Zee Corporation has developed the following cost standards for the production of its leather backpacks: Standard Cost Per Backpack Leather (1.8 yards × $27 per yard) $48.60 Direct labor (2.1 hours × $12.00 per hour) $25.20 Variable overhead (2.1 hours × $17.60 per hour) $36.96 Variable overhead at Zee is applied on the basis of direct labor hours. The actual results for last month were as follows: Number of backpacks produced 11,500 Direct labor hours incurred 23,390 Yards of leather purchased 22,260 Yards of leather used in production 21,720 Cost of leather purchased $566,517 Direct labor cost $252,612 Variable overhead cost $416,342 The direct materials purchases variance is computed when the materials are purchased.Required:Compute the following variances for Zee. a. Materials price variance. b. Materials quantity variance. c. Labor…
Camden County College References X b My Questions bartleby Chapter 3 Quiz + v denccinstructure.com/courses/3788/assignments/35967?module item id=88693 Question 12 --/- View Policies Current Attempt in Progress Concord Company decided to analyze certain costs for June of the current year. Units started into production equaled 27000 and ending work in process equaled 3500 units. With no work in process was 20% complete and total conversion costs equaled $135520? beginning work in process inventory, how much is the conversion cost per unit if ending O $4.44. O $2.80. O $5.60. O $5.02. e Textbook and Media Attempts: 0 of 1 used Submit Answer Save for Later Next > < Prev Send to Gradebook 11:42 10/4/2 hp ins prt sc f12 f11 I f10 f5 f6 f8 home delete enc II % num 6 9 backspace 7 lock
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LL Requlred Information The following information applies to the questions displayed below] Cane Company manufactures two products called Alpha and Beta that sell for $225 and $175, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 130,000 units of each product Its average cost per unit for each product at this level of activity are given below. Alpha $42 Beta $ 24 32 24 Direct materials Direct labor Variable manufacturing overhead Traceable Fixed manufacturing overhead Variable selling expenses Common fixed expenses 42. 26. 34 31. 34. 27. Total cost per unit $173 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars. 2 What is the company's total amount of common fixed expenses? Total common fixed expenses. ( Prev of 15 2 3 4 Next e to search TPL F4 F5
Exercise 1 CVP Relationships high electromagnetic radiation environments. Kelter Company manufactures and sells a specialized cordless telephone contribution format income statement for the most recent year is grven L Exurcises CVP Relationships The companys or helow Total Per Unit % of Sales Sales (20,000 units) Less: Variable expenses Contribution margin Less Fixed expenses P1,200,000 P60 100% 900,000 45 P 300,000 15 240,000 Net operating income P 60,000 Management is anxious to improve the company's profit performance and bas asked for an analysis of a number of items. Required 1 Compute the company's CM ratio and variable expenses ratio.
Question z Answer saved Cost Formulas Marked out of 1.45 Material A Material B Material C Cutting labor Shaping labor Finishing labor Hag question $25/pound $100/gallon $45/hour $55/hour $60/ hour Saved to this PC Shorewood Manufacturing produces a single product requiring the following directmaterial and direct labor: Cost per Unit of Input Required Amount per Unit of Product $40 / pound 10 ounces Homework 6 8 ounces 0.3 gallon 30 minutes 15 minutes 45 minutes Variable Manufacturing overhead consists of indirect material, $0.60 per unit of product; indirect labor, $1,000 per month plus $0.70 per unit of product; factory maintenance, $14,000 per year plus $0.55 per unit of product; factory depreciation, $15,000 per year; and annual factory property taxes, $8,000. Selling and administrative expenses include the salaries of a sales manager, $30,000 per year; an office manager, $18,000 per year; and two salespersons, each of whom is paid a base salary of $11,000 per year and a commission…
VAR COST Student Name => ______________________ Section Number => ______________________ - - - - - - - - 6 Data Section: 7 8 Actual production in units 100,000 9 Sales in units 80,000 10 Sales price per unit $30 11 Variable manufacturing costs per unit $14 12 Variable selling costs per unit $2 13 Fixed manufacturing costs $630,000 14 Fixed selling expenses $100,000 28 15 - - - 16 Answer Section: 17 Income statement: Absorption costing 18 19 Sales FORMULA1 20 Cost of goods sold: 21 Variable manufacturing costs FORMULA2 22 Fixed manufacturing costs FORMULA3 23 ---------- 24 Total goods available for sale $0 25 Less ending inventory FORMULA4 26 ---------- 27 Cost of goods sold $0 28 ---------- 29 Gross profit $0 30 Fixed selling expenses FORMULA5 31…