Bruno Company accumulates the following data concerning a mixed cost,using miles as the activity level.Miles Driven Total CostJanuary 8,015February 7,510Miles Driven Total Cost$14,195March 8,500$15,00013,515 April8,20514,495a. Compute the variable cost per mile using the high-low method.b. Compute the fixed cost elements using the high-low method.Arsons company is planning to produce 2,100 units of productin 2017. Each unit requires 1.60 pounds of materials at $6.40per pound and a half-hour of labor at $16.00 per hour. Theoverhead rate is 60% of direct labor.A. Compute the budgeted amounts for 2017 for direct materialsto be used, direct labor, and applied overhead.B. Compute the standard cost of one unit of production (roundanswer to 2 decimal places).

Question ( 1 )We have the mixed cost data of the Bruno company for four monthsBy using the High Low…

Answered: Bruno Company accumulates the following…

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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Flounder Corporation produces microwave ovens. The following unit cost information is available: direct materials $33, direct labor $30, variable manufacturing overhead $15, fixed manufacturing overhead $38, variable selling and administrative expenses $12, and fixed selling and administrative expenses $22. Its desired ROI per unit is $25.50. Compute its markup percentage using a total - cost approach.
Cardinal uses the high-low method of estimating costs. Cardinal had total costs of $26,450 at its lowest level of activity, when 7,100 units were sold. When, at its highest level of activity, sales equaled 12,700 units, total costs were $39,890. What would be the estimated variable cost per unit be?
Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 7,425 $415,800 2,925 267,300 4,860 348,380 a. Determine the variable cost per unit and the total fixed cost. Variable cost: (Round to the nearest dollar.) $ per unit Total fixed cost: $ b. Based on part (a), estimate the total cost for 3,730 units of production. Total cost for 3,730 units: $
Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $800 per unit, of which $540 is product cost and $260 is selling and administrative expenses. In addition, the total cost of $800 is made up of $460 variable cost and $340 fixed cost. The desired profit is $168 per unit. Determine the markup percentage on total cost. %
Rios Company makes drones and uses the variable cost method in setting product price. Its costs for producing 42,000 units follow. The company targets a profit of $322,000 on this product. Variable Costs per Unit Direct materials Direct labor Overhead Selling, general and administrative Fixed Costs (total) Overhead Selling, general and administrative $ 92 62 47 37 1. Compute the total variable cost and the markup percentage. 2. Compute the dollar markup per unit on variable cost. 3. Compute the selling price per unit. (For all requirements, round your final answers to the nearest whole number.) 1. Total variable costs S 1. Markup percentage 2. Markup per unit 3. Selling price per unit $692,000 634,000 Answer is complete but not entirely correct. 238 16 39 277✔ $ S
Adams, Inc. has the following cost data for Product X, and unit product cost using absorption costing when production is 2,000 units, 2,500 units, and 5,000 units. (Click on the icon to view the cost data.) (Click on the icon to view the unit product cost data.) Product X sells for $175 per unit. Assume no beginning inventories. Read the requirements. Data table Begin by selecting the labels and computing the gross profit for scenario a. and then compute the gross profit for scenario b. and c. Absorption costing a. b. C. Gross Profit Reference 2,000 units 2,500 units 5,000 units 42 $ 42 52 52 11 11 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit product cost Print $ $ 42 S 52 11 10 115 $ Done 8 113 $ 4 109 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Print Done $42 per unit 52 per unit 11 per unit 20,000 per year
The following information relates to Everstream Ltd: Variable manufacturing cost 500 Applied fixed manufacturing cost 160 Variable selling and administrative cost 130 Allocated fixed selling and administrative cost ? To achieve the target price of $1,035 per unit, the mark-up percentage based on total unit cost is 15%. Required: Calculate the allocated fixed selling and administrative cost per unit. Develop a cost-plus pricing formula that will result in the target price for each of the following bases: Variable manufacturing cost Absorption manufacturing cost Total variable cost
A moodle1.du.edu.om The company produced 1000 units in January. The production manager was asked to review these costs and provide her best guess as to how they should be categorized. She responded with the following information. Variable Total Costs Costs Material Costs 35000 45000 Labor Costs 55000 67500 Production Facilities cost 2500 10500 On the basis of above information, what is the estimated cost for 1600 units from the following? Select one: a. 173000 b. 158500 c. 178500 d. 163750 II
If variable manufacturing costs are $9 per unit and total fixed manufacturing costs are $224,000, what is the manufacturing cost per unit if: a. 4,000 units are manufactured and the company uses the variable costing concept? $ b. 5,600 units are manufactured and the company uses the variable costing concept? c. 4,000 units are manufactured and the company uses the absorption costing concept? $ d. 5,600 units are manufactured and the company uses the absorption costing concept?
Voltar has collected the following data for recent months Month Miles Driven Total Cost March 41,00O 30,690 April 43,600 44,234 May 35,500 37,000 June 42,400 31,593 Required: a) Using the high-low method, find variable cost per unit, total fixed cost, and total cost equation? b) What is the estimated cost for a month in which 38,000 miles are driven
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