Asplund Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.95 Cost per Period $ 3.60 $ 2.00 $ 20,800 $ 1.50 $ 0.45 $ 8,900 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,280 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,280 units? a. Total product cost b. Total period cost

Asplund Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.95 Cost per Period $ 3.60 $ 2.00 $ 20,800 $ 1.50 $ 0.45 $ 8,900 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,280 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,280 units? a. Total product cost b. Total period cost

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

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
! Required information [The following information applies to the questions displayed below.] Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Calculate the product costs per unit. Note: Round your answer to 2 decimal places. b. Calculate the period costs for the period. Product costs per unit b. Period costs $80 per unit $ 23,800 $ 9,100 $9 $20 $ 10 $16 21,000
Gold Company uses a plantwide overhead rate with machine hours as the allocation base. Use the following information to solve for the amount of machine hours estimated per unit of product RST. Direct material cost per unit of RST Total estimated manufacturing overhead Total cost per unit of RST Total estimated machine hours, Direct labor cost per unit of RST $ 19 $308,000 $ 84 154,000 MH 27 $
What are the answers to Total Manufacturing cost for both Garcon Co. and Pepper Co.?
The following particulars are extracted from the records of a company. Product A Product B Sales (per unit) RO. 100 RO. 120 Consumption of material Material cost 2 kg 3 kg RO. 10 RO. 15 Direct wages cost RO. 15 RO. 10 Direct expenses RO. 5 RO. 6 Machine hours used 3 Overhead expenses: Fixed 10 Variable 15 20 Direct wage per hour is RO.5. Comment on the profitability of each product (both use the same raw material) when: (i) Total sales potential in units is limited Production capacity (in terms of machine hours) is the limiting factor. Material is in short supply (ii) (iv) Sales potential in value is limited.
Calculate the Direct expenses and factory cost from the following information: Direct Labor RO 5,000, Direct material RO:8.000, production overheads are RO 3.000 and prime cost is RO 19,000. a. Direct expenses RO 6,000, Factory cost RO 22:000 b. Direct expenses RO 6,000; Factory cost RO 11,000 c. Direct expenses RO 11,000; Factory cost RO 22,000 d. Direct expenses RO 22.000, Factory cost RO 6,000
Nole, Incorporated, manufactures and sells two products: Product W8 and Product NO. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Product W8 Product NO Total direct labor-hours Total Direct Labor-Hours 900 11,000 11,900 The direct labor rate is $17.40 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per Unit $ 176.40 $ 280.50 Product W8 Product NØ Expected Production 100 1,000 Activity Cost Pools Labor-related Machine setups Order size Direct Labor- Hours Per Unit 9.0 11.0 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Expect Activity Product NO 11,000 400 4,200 Multiple Choice Activity Measures DLHS setups MHS Estimated Overhead Cost $461,720 25,865 796,220 $ 1,283,805 The overhead applied to each unit of Product W8 under…
The following data was prepared by the Sandhill Company. Total Variable Fixed $ 24/unit Sales price $ 78, 750 Direct materials used Direct labor $91,000 $ 110, 750 $ 13,850 $ 96.900 Manufacturing overhead $ 22,000 $ 12,600 $9,400 Selling and administrative expense 25,500 units Units manufactured 20, 800 units Beginning Finished Goods Inventory 9,000 units Ending Finished Goods Inventory Under variable costing, what is the unit product cost?
Dake Corporation's relevant range of activity is 2,300 units to 5,500 units. When it produces and sells 3,900 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Multiple Choice For financial reporting purposes, the total amount of product costs incurred to make 3,900 units is closest to: $57,915 $48,165 $61,815 Average Cost per Unit $ 6.80 $ 4.00 $ 1.55 $9,750 $2.50 $ 1.15 $ 0.85 $0.95 $ 0.85
Using this information from Planters, Inc., what is the cost per unit under absorption costing? Round to the nearest penny, two decimal places. Planters, Inc data Cost Production Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Amount 10,348 units $248 293 103 1,008,619
A Cothing Manufacturing Company provides the following unit costs associated with one of its products: Direct materials. Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Operating costs Total $160 50 55 32 30 $327 What are the period costs per unit associated with the Product? O A $30 O B. $33 OC. $100 O D. $17
Required information. Cost Classifications (Algo) [The following information applies to the questions displayed below] Kubin Company's relevant range of production is 26,000 to 35,500 units. When it produces and sells 30,750 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $8.50 $5.60 $ 3.10 1. Total amount of product cost 2. Total amount of period cost 3. Total amount of product cost 4 Total amount of period cost $6.60 $5.10 $.4.10 $2.00 $2.10 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4] Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 30,750 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 30,750 units? 3. For…