please answer withim 30 minutes... Required information[The following information applies to the questions displayed below.]Kubin Company's relevant range of production is 16,000 to 24,500 units. When it produces and sells 20,250 units, itsaverage costs per unit are as follows:Direct materialsDirect laborVariable manufacturing overheadFixed manufacturing overheadFixed selling expenseFixed administrative expenseSales commissionsVariable administrative expenseDirect materialsDirect laborVariable manufacturing overheadFixed manufacturing overheadFixed selling expenseFixed administrative expenseSales commissionsVariable administrative expenseAverageCost perUnit$7.78$4.70$2.20$5.70Required:1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,250 units?2. For financial accounting purposes, what is the total amount of period costs incurred to sell 0,250 units?3. For financial accounting purposes, what is the total amount of product costs incurred to make 24,500 units?4. For financial accounting purposes, what is the total amount of period costs incurred to sell 16,000 units?1. Total amount of product cost2. Total amount of period cost incurred3. Total amount of product cost4. Total amount of period cost$ 4.20$ 3.20$ 1.70$ 1.20Unit$ 7.70$ 4.70$2.20$ 5.70$ 4.20$ 3.20$ 1.70$ 1.20Required:1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,250 units?2. For financial accounting purposes, what is the total amount of period costs incurred to sell 20,250 units?3. For financial accounting purposes, what is the total amount of product costs incurred to make 24,500 units?4. For financial accounting purposes, what is the total amount of period costs incurred to sell 16,000 units?(For all requirements, do not round intermediate calculations.)

According to the given question, we are required to compute the product cost and period costs for…

Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Unit $7.70 $ 4.70 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost $2.20 $ 5.70 $ 4.20 $ 3.20 $ 1.70 $ 1.20 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,250 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 20,250 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 24,500 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 16,000 units? (For all requirements, do not round intermediate calculations.)

Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Unit $7.70 $ 4.70 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost $2.20 $ 5.70 $ 4.20 $ 3.20 $ 1.70 $ 1.20 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,250 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 20,250 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 24,500 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 16,000 units? (For all requirements, do not round intermediate calculations.)

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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