Fanning Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 7,000 and 13,000 trophies per year. The following cost data apply to various activity levels: Required Complete the following table by filling in the missing amounts for the levels of activity shown in the first row of the table. Note: Round "Cost per unit" answers to 2 decimal places. Number of Trophies Total costs incurred Fixed Variable Total costs Cost per unit Fixed 7,000 $ 64,000 42,000 $ 106,000 $ $ 9 14 9,000 54,000 54,000 $ 11,000 13,000 66,000 66,000 $ 78,000 78,000

Fanning Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 7,000 and 13,000 trophies per year. The following cost data apply to various activity levels: Required Complete the following table by filling in the missing amounts for the levels of activity shown in the first row of the table. Note: Round "Cost per unit" answers to 2 decimal places. Number of Trophies Total costs incurred Fixed Variable Total costs Cost per unit Fixed 7,000 $ 64,000 42,000 $ 106,000 $ $ 9 14 9,000 54,000 54,000 $ 11,000 13,000 66,000 66,000 $ 78,000 78,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Mad City Flash sells computers and video game systems. The business is divided into two divisions along product lines. Variable costing income statements for the current year are presented below: Computers VG Systems Total Sales $800,000 $200,000 $1,000,000 Variable costs 480,000 140,000 620,000 Contribution margin $320,000 $ 60,000 380,000 Fixed costs 228,000 Net income $ 152,000 Instructions (show calculations): a) Determine the sales mix, and contribution margin ratio for each division. b) Calculate the company's weighted-average contribution margin ratio. C) Calculate the company's break-even point in dollars. d) Determine the sales level, in dollars, for each division at the break-even point.
Please provide answer in text (Without image)
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
A company's only product sells for $435 per unit. In its first year of operations, the company produced and sold 4,300 units and reported the following cost information. Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead Complete this question by entering your answers in the tabs below. Required A Required B Using absorption costing, compute total product cost per unit. Product cost per unit Absorption costing Total product cost per unit $ 39 per unit $430,000 per year $ 43 per unit $59 per unit $ 15 per unit $ 301,000 per year
Benson Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 5,000 and 11,000 trophies per year. The following cost data apply to various activity levels. Required Complete the preceding table by filling in the missing amounts for the levels of activity shown in the first row of the table. (Round your intermediate calculations and per unit amounts to 2 decimal places.)
! Required information [The following information applies to the questions displayed below.] Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Calculate the product costs per unit. Note: Round your answer to 2 decimal places. b. Calculate the period costs for the period. Product costs per unit b. Period costs $80 per unit $ 23,800 $ 9,100 $9 $20 $ 10 $16 21,000
Munoz Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 6,000 and 12,000 trophies per year. The following cost data apply to various activity levels: Required Complete the preceding table by filling in the missing amounts for the levels of activity shown in the first row of the table. (Round "Cost per unit" answers to 2 decimal places.) Number of Trophies 6,000 8,000 10,000 12,000 Total costs incurred Fixed $ 64,000 Variable 42,000 Total costs $ 106,000 $ Cost per unit Fixed 2$ 10.67 Variable 7.00 Total cost per trophy 24 17.67 0.00 0.00 S 0.00
The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Required A Required B 89,000 Complete this question by entering your answers in the tabs below. Prepare a gross margin income statement. $280,000 64,000 40,000 18,000 43,000 11,500 32,000
devrat
Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)
Bowl Me Over, Inc (BMO) makes ceramic bowls They have a capacity of 50,000 bowls per period. Below is the selling and cost information for BMO. Sales and cost information Sales Direct Materials Direct labor Variable overhead Fixed overhead Total product cost Variable selling expense (commission of 4% of sales dollars Fixed selling expense BMO sales and cost information Per Unit 30 3.50 10 5 7 25.50 1.20 .50 Dollars 1,200,000 140,000 400,000 200,000 280,000 1,020,000 48,000 20,000 BMO has a defective part rate of 12%. They can sell the defective bowls for $3.00 each. Alternatively, they can rework the bowls and sell them for full price. The cost to rework the bowls is $2 for direct materials, $5 for direct labor and 1.50 for variable overhead. Analyze the incremental income of both options and recommend a course of action for BMO.
Neon Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $ 130.00 $ 62.00 $ 5.00 $ 30,000 $ 8,000 1,500 1,100 Using variable costing, what is the contribution margin for last year? A. $216,700 8. $69,300 C. $143,000 D. $68,200