Please do not give solution in image format thanku Corporation C produces a chemical product which it sells to other manufacturers. In 2014, the company incurred$344,000 of costs to produce 40,000 gallons of the chemical. The selling price of the chemical is $11.00 per gallon. Thecosts per unit to manufacture a gallon of the chemical are presented below:Direct materials$6.00Direct laborVariable manufacturing overhead .80Fixed manufacturing overhead .60Total manufacturing costs $8.601.20If the company processes the chemical further and manufactures a new product, the following additional costs per gallonwill be incurred: Direct materials $1.80, Direct labor $.60, Variable manufacturing overhead $.50. No increase in fixedmanufacturing overhead is expected. The company can sell the new product at $15.00 per gallon.InstructionsDetermine the incremental per gallon increase in net income and the total increase in net income if the companymanufactures the new product.

Incremental Analysis :— This analysis shows the comparison between two different alternatives. A…

Corporation C produces a chemical product which it sells to other manufacturers. In 2014, the company incurred $344,000 of costs to produce 40,000 gallons of the chemical. The selling price of the chemical is $11.00 per gallon. The costs per unit to manufacture a gallon of the chemical are presented below: Direct materials $6.00 Direct labor 1.20 Variable manufacturing overhead .80 Fixed manufacturing overhead .60 Total manufacturing costs $8.60 If the company processes the chemical further and manufactures a new product, the following additional costs per gallon will be incurred: Direct materials $1.80, Direct labor $.60, Variable manufacturing overhead $.50. No increase in fixed manufacturing overhead is expected. The company can sell the new product at $15.00 per gallon. Instructions Determine the incremental per gallon increase in net income and the total increase in net income if the company manufactures the new product.

Corporation C produces a chemical product which it sells to other manufacturers. In 2014, the company incurred $344,000 of costs to produce 40,000 gallons of the chemical. The selling price of the chemical is $11.00 per gallon. The costs per unit to manufacture a gallon of the chemical are presented below: Direct materials $6.00 Direct labor 1.20 Variable manufacturing overhead .80 Fixed manufacturing overhead .60 Total manufacturing costs $8.60 If the company processes the chemical further and manufactures a new product, the following additional costs per gallon will be incurred: Direct materials $1.80, Direct labor $.60, Variable manufacturing overhead $.50. No increase in fixed manufacturing overhead is expected. The company can sell the new product at $15.00 per gallon. Instructions Determine the incremental per gallon increase in net income and the total increase in net income if the company manufactures the new product.

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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