Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold during the quarter Variable marketing and administrative costs Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing cost per unit. c. Determine the full absorption cost per unit. d. Determine the full cost per unit. e. Determine the profit margin per unit. f. Determine the gross margin per unit. g. Determine the contribution margin per unit. Note: Round your answer to 2 decimal places. Answer is complete but not entirely correct. a. Variable cost per unit b. Variable manufacturing cost per unit c. Full absorption cost per unit d. Full cost per unit e. Profit margin per unit f. Gross margin per unit g. Contribution margin per unit $ 251.00 $ 247.00 $ 268.00 $ 272.00 X $ 253.00 X $ 274.00 x $ 274.00 $ 116 per unit $ 2,540,000 $ 525 per unit $ 57 per unit $74 per unit $ 290,000 45,000 $4 per unit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

5

Direct materials
Fixed manufacturing overhead costs
Sales price
Variable manufacturing overhead
Direct labor
Fixed marketing and administrative costs
Units produced and sold during the quarter
Variable marketing and administrative costs
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost per unit.
c. Determine the full absorption cost per unit.
d. Determine the full cost per unit.
e. Determine the profit margin per unit.
f. Determine the gross margin per unit.
g. Determine the contribution margin per unit.
Note: Round your answer to 2 decimal places.
X Answer is complete but not entirely correct.
a. Variable cost per unit
b. Variable manufacturing cost per unit
c. Full absorption cost per unit
d. Full cost per unit
e. Profit margin per unit
f. Gross margin per unit
g. Contribution margin per unit
$
$
$
$
$
$
$
251.00
247.00
268.00 X
272.00 x
253.00 X
274.00 X
274.00
$ 116 per unit
$ 2,540,000
$ 525 per unit
$ 57 per unit
$ 74 per unit
$ 290,000
45,000
$ 4 per unit
Transcribed Image Text:Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold during the quarter Variable marketing and administrative costs Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing cost per unit. c. Determine the full absorption cost per unit. d. Determine the full cost per unit. e. Determine the profit margin per unit. f. Determine the gross margin per unit. g. Determine the contribution margin per unit. Note: Round your answer to 2 decimal places. X Answer is complete but not entirely correct. a. Variable cost per unit b. Variable manufacturing cost per unit c. Full absorption cost per unit d. Full cost per unit e. Profit margin per unit f. Gross margin per unit g. Contribution margin per unit $ $ $ $ $ $ $ 251.00 247.00 268.00 X 272.00 x 253.00 X 274.00 X 274.00 $ 116 per unit $ 2,540,000 $ 525 per unit $ 57 per unit $ 74 per unit $ 290,000 45,000 $ 4 per unit
Expert Solution
steps

Step by step

Solved in 9 steps

Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education