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Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SGGA) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SGGA Number of units produced per quarter $ 250 1,500,000 4,500,000 a. Prime cost per unit b. Contribution margin per unit c. Gross margin per unit d. Conversion cost per unit Required: Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 28 31 29 25 500,000 units. 500,000 units 600,000 units

Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SGGA) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SGGA Number of units produced per quarter $ 250 1,500,000 4,500,000 a. Prime cost per unit b. Contribution margin per unit c. Gross margin per unit d. Conversion cost per unit Required: Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 28 31 29 25 500,000 units. 500,000 units 600,000 units

FINANCIAL ACCOUNTING
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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5 Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SGGA Number of units produced per quarter a. Prime cost per unit b. Contribution margin per unit $ 250 1,500,000 4,500,000 Required: Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. c. Gross margin per unit d. Conversion cost per unit e. Variable cost per unit Full absorption cost per unit g. Variable production cost per unit h. Full cost per unit 28 31 29 25 500,000 units 500,000 units 600,000 units
Transcribed Image Text:5 Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SGGA Number of units produced per quarter a. Prime cost per unit b. Contribution margin per unit $ 250 1,500,000 4,500,000 Required: Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. c. Gross margin per unit d. Conversion cost per unit e. Variable cost per unit Full absorption cost per unit g. Variable production cost per unit h. Full cost per unit 28 31 29 25 500,000 units 500,000 units 600,000 units
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