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Gregorie Tool & Die reports the following information for the quarter: Sales price $ 60   Fixed costs (for the quarter)     Selling and administration 47,580   Production 142,740   Variable cost (per unit)     Materials 16   Labor 13   Plant supervision 6   Selling and administrative 7   Number of units (for the quarter) 23,790 units Required: Select the answer for each of the following costs. Variable cost per unit. Variable production cost per unit. Full cost per unit. Full absorption cost per unit. Prime cost per unit. Conversion cost per unit. Contribution margin per unit. Gross margin per unit.

Gregorie Tool & Die reports the following information for the quarter: Sales price $ 60   Fixed costs (for the quarter)     Selling and administration 47,580   Production 142,740   Variable cost (per unit)     Materials 16   Labor 13   Plant supervision 6   Selling and administrative 7   Number of units (for the quarter) 23,790 units Required: Select the answer for each of the following costs. Variable cost per unit. Variable production cost per unit. Full cost per unit. Full absorption cost per unit. Prime cost per unit. Conversion cost per unit. Contribution margin per unit. Gross margin per unit.

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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Gregorie Tool & Die reports the following information for the quarter:

Sales price $ 60  
Fixed costs (for the quarter)    
Selling and administration 47,580  
Production 142,740  
Variable cost (per unit)    
Materials 16  
Labor 13  
Plant supervision 6  
Selling and administrative 7  
Number of units (for the quarter) 23,790 units

Required:

Select the answer for each of the following costs.

  1. Variable cost per unit.
  2. Variable production cost per unit.
  3. Full cost per unit.
  4. Full absorption cost per unit.
  5. Prime cost per unit.
  6. Conversion cost per unit.
  7. Contribution margin per unit.
  8. Gross margin per unit.

     

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