Sierra Company produces its product at a total cost of $120 per unit. Of this amount, $40 per unit is selling and administrative costs. The total variable cost is $96 per unit, and the desiredprofit is $24.00 per unit.Determine the markup percentage using the (a) total cost, (b) product cost, and (c) variable cost methods. Round your answers to one decimal place.a. Total costb. Product costc. Variable cost%%%

The markup is the excess amount charged as compared to product cost. The markup percentage is…

fit is $24.00 per unit. ermine the markup percentage using the (a) total cost, (b) product cost, and (c) variable cost methods. Round your answers to one decimal place. Total cost Product cost Variable cost %%% %

fit is $24.00 per unit. ermine the markup percentage using the (a) total cost, (b) product cost, and (c) variable cost methods. Round your answers to one decimal place. Total cost Product cost Variable cost %%% %

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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Bluegill Company sells 13,600 units at $140 per unit. Fixed costs are $95,200, and operating income is $856,800. Determine the (a) variable cost per unit, (b) unit contribution margin, and (c) contribution margin ratio. Round the contribution margin ratio to two decimal places. a. Variable cost per unit b. Unit contribution margin c. Contribution margin ratio $ per unit %
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Compute the contribution margin ratio and fixed costs using the following data. Sales $5,200 Variable costs $3,016 Income $ 420 Contribution margin Numerator: Fixed Cost Contribution Margin Contribution Margin Ratio Denominator: = Contribution Margin Ratio Contribution margin ratio 0
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a. Prepare a contribution margin by product report. Calculate the contribution margin ratio for each. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
Sims Company...
I need help with part b please, i have part a done
Required information Exercise 15-34 Determining Markup Percentage; Target ROI (LO 15-3) [The following information applies to the questions displayed below.] The following is cost and production data for the Wave Darter: Variable manufacturing cost Applied fixed manufacturing cost Absorption manufacturing cost Variable selling and administrative cost Allocated fixed selling and administrative cost Total cost Variable manufacturing cost Variable selling and administrative cost Total variable cost Exercise 15-34 Part 1 Based on planned monthly production of 41 units (or 492 units per year). t Rounded The target profit is $49,000, with planned sales equal to production. Per unit $ 370 220 590 55 100+ Markup percentage $745 $370 55 $425 Required: 1. Use the general formula for determining a markup percentage to compute the required markup percentage using variable manufacturing cost. (Round your percentage answer to 2 decimal places (i.e., .1234 should be entered as 12.34).) %
A product has a sales price of $746 and a per-unit contribution margin of $131. What is the contribution margin ratio? Round to the nearest percentage, no decimals.
4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific Identification
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