CALCULATOR PRINTER VERSION ( BACK NE National Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. Per Unit Total Direct materials $26 Direct labor $44 Variable manufacturing overhead $15 Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses $1,377,000 $ 5 $ 1,053,000 These costs are based on a budgeted volume of 81,000 units produced and sold each year. National uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%. Compute the total variable cost per unit, total fixed cost per unit, and total cost per unit for M14-M16. Variable cost per unit %$4 Fixed cost per unit Total cost per unit %24

CALCULATOR PRINTER VERSION ( BACK NE National Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. Per Unit Total Direct materials $26 Direct labor $44 Variable manufacturing overhead $15 Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses $1,377,000 $ 5 $ 1,053,000 These costs are based on a budgeted volume of 81,000 units produced and sold each year. National uses cost-plus pricing methods to set its target selling price. The markup percentage on total unit cost is 40%. Compute the total variable cost per unit, total fixed cost per unit, and total cost per unit for M14-M16. Variable cost per unit %$4 Fixed cost per unit Total cost per unit %24

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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Task 2 (Budgeting) Aqua Safe produces water purifiers for domestic use. The production expenses for the production of 5,000 units of water purifiers in its factory is given in Table T2: Materials Labour Variable Overheads Fixed Overheads Table T2 Administrative Expenses (5% Variable) Selling Expenses (20% Fixed) Distribution Expenses (10% Fixed) Total Cost of Sales (for 5,000 units) 4200 2100 1400 900 1000 570 480 10650 You are required to prepare a flexible budget for the production of 7000 units and 14000 units of water purifiers.
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Oriole Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Oriole: Time Charges Material Loading Charges Technicians' wages and benefits $260,700 Parts manager's salary and benefits $36,960 Office employee's salary and benefits 63,200 16,720 Other overhead 23,700 25,520 Total budgeted costs $347,600 $79,200 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $352,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged eTextbook and Media 79 per hour Attempts: 1 of 2 used (b) Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%.) Material loading percentage eTextbook and Media Save for Later % Attempts: 0 of 2 used Submit Answer
Office Products Inc. manufactures and sells various high-tech office automation products. Two divisions of Office Products Inc. are the Computer Chip Division and the Computer Division. The Computer Chip Division manufactures one product, a “super chip,” that can be used by both the Computer Division and other external customers. The following information is available on this month’s operations in the Computer Chip Division: Selling price per chip P50 Monthly capacity 10,000 chips Variable costs per chip P20 External sales 6,000 chips Fixed production costs P60,000 Internal sales 0 chips Fixed SG&A costs P90,000 Presently the Computer Division purchases no chips from the Computer Chips Division, but instead pays P45 to an external supplier for the 4,000 chips it needs each month. 1.…
Stewart Company, a recent entrant to the market, manufacturers a popular robotic toy. There are two production departments-Assembly and Finishing. Selected budgeted and actual data are below. Assembly $276,000 $343,200 80,000 1,300 Budgeted overhead Finishing $288,000 Actual overhead $198,000 Expected direct labor hours Expected machine hours 24,960 120,000 During the year, 10,000 units of the toy were produced and 9,700 units were sold. Actual data related to this production are below. Direct materials cost $540,012 $48,600 Direct labor cost Direct labor hours used: Assembly Finishing Machine hours used: 82,560 26,880 Assembly Finishing 1,680 130,940 Stewart uses departmental overhead rates-Assembly is based on direct labor hours and Finishing is based on machine hours. If necessary, round final answers to 2 decimal places. Required: 1. Compute the departmental overhead rates for a) Assembly and b) Finishing. 2. Using the departmental rates, compute the overhead costs assigned to…
Ring Company makes two models of phones - Blue and Yellow. Blue is a basic model and Yellow has more advanced features. Data on the two phones is as follows: Blue Yellow Expected production 50,000 phones 150,000 phones Direct materials and Direct labour costs $25 $40 Ring Company's accountant prepares the following budget that she plans to use to prepare an activity based analysis the costs of Blue and Yellow: \table[[, Blue, Yellow, Budgeted Cost],[,,,], [ Equipment setup, 100 setups, 60 setups,$88,000 ง Required: 1. "Calculate the manufacturing overhead allocation rate for each activity using ABC 2. Calculate the cost of the Blue Phone." 3. If the company wants a markup on cost of 75 percent calculate the selling price of the Blue Phone
Carla Vista Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Carla Vista: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Rate charged $ Time Charges Material Loading Charges $245,830 Calculate the rate charged per hour of labour. eTextbook and Media Save for Later 47,580 31,720 $325,130 The company wants a $30 profit margin per hour of labour and a 25% profit margin on parts. It has budgeted for 7,930 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $388,000. $36,860 16,490 per hour 25,220 $78,570 Attempts: 0 of 2 used Submit Answer
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Required information Eckert Company uses the absorption costing approach to cost plus pricing to set prices for its products. Based on budgeted sales of 18.000 units next year, the unit product cost of a particular product is $60.40. The company's selling general, and administrative expenses for this product are budgeted to be $370.800 in total for the year. The company has invested $260.000 in this product and expects a return on investment of T (Appendix 12A) The markup on absorption cost for this product would be closest to which of the following O O O M4T 36.74 ALIK HON 3 Save & Submit
Vaughn Manufacturing expects a direct materials cost of $4 per unit for 300000 units (a total of $1200000 of direct materials costs). Vaughn's standard direct materials cost and budgeted direct materials cost is O Standard $1200000 per year $4 per unit $4 per unit $1200000 per year Budgeted $1200000 per year $4 per unit $1200000 per year $4 per unit