Information from the records of the Conundrum Company for September 2018 was as follows: Sales $307,500 Selling and administrative expenses 52,500 Direct materials used 66,000 Direct labor 75,000 Variable factory overhead 50,000 Factory overhead 51,250 Inventories Sept. 1, 2018 Sept 30, 2018 Direct materials $ 8,000 $10,500 Work in process 18,750 21,000 Finished goods 17,250 14,250 Conundrum Corporation produced 20,000 units. What are the total variable costs per unit? a.$2.175 b.$6.25 c.$7.05 d.$9.55

Information from the records of the Conundrum Company for September 2018 was as follows: Sales $307,500 Selling and administrative expenses 52,500 Direct materials used 66,000 Direct labor 75,000 Variable factory overhead 50,000 Factory overhead 51,250 Inventories Sept. 1, 2018 Sept 30, 2018 Direct materials $ 8,000 $10,500 Work in process 18,750 21,000 Finished goods 17,250 14,250 Conundrum Corporation produced 20,000 units. What are the total variable costs per unit? a.$2.175 b.$6.25 c.$7.05 d.$9.55

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: The following operating costs were extracted from the books of Paper Producers Ltd for…

A: Prime cost means the addition of direct material and direct labor and other direct expenses.…

Q: Need Help with this Question

A: Step 1 : Introduction to Gross Profit:Gross profit is earned after meeting the direct costs…

Q: Splish Brothers Corporation has the following cost records for June 2025. Indirect factory labor…

A: Answer information:Step 1:a.Cost of Goods Manufactured Splish Brothers Corporation Cost of Goods…

Q: Ogleby Inc.'s accounting records reflect the following inventories: 12/31/19 12/31/20 Raw materials…

A: To calculate the cost of goods manufactured (COGM) for Ogleby Manufacturing for the year 2020, we'll…

Q: Prepare a statement of cost of goods manufactured for the month of Prepare an income statement for…

A: Cost of goods manufactured is the accumulation of all costs till manufacture stage.

Q: The following data were taken from the records of a Company: Raw Materials Inventory, 09/30/2011…

A: Net income is the final income available to the firm after paying all the expenses. It is determined…

Q: The following data from the just completed year are taken from the accounting records of Mason…

A: Schedule of cost of goods manufactured refers to all the production cost incurred on the production…

Q: Plato Company began operations on June 1, 2024. For its first month of operations, Plato Company…

A: Through the use of standard costing, the management identifies the variance after comparing actual…

Q: Boursaw Corporation has provided the following data concerning last month’s operations. Purchases of…

A: Material : Material is classified into direct and indirect materials. Direct materials are the raw…

Q: hich of the following Answers below best fits in each black space? The ending balance of works in…

Q: Metalcore Ltd is a metal and woodcutting manufacturer, selling products to the home construction…

A: Cost of goods sold: The cost of goods sold is determined by adding the opening finished goods and…

Q: Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods,…

A: Cost of goods manufactured = Direct materials used + Direct labor + Manufacturing overhead applied +…

Q: The following information was obtained from the records of Martinez Corporation during 2018. 1.…

A: The cost of goods manufactured includes the cost of goods that are finished during the period. The…

Q: Ivanhoe Corporation has the following cost records for the year ended December 31, 2022: Indirect…

A: Direct materials are the raw materials that are directly used in the production process. In this…

Q: Dreams Manufacturing Company provided the following information for the year 2015: Purchases—Raw…

A: COGM stands for Cost of Goods Manufactured which is a schedule presents the aggregate production…

Q: Reed Production has provided the following information for the year 2015: Direct Labor $153,000…

Q: ABS Co. has these data related to production of 30,000 units during March 2021: 3/1/21 3/1/21…

A: The costs incurred for production can be classified as prime costs, conversion cost, etc. The prime…

Q: Wildhorse Corporation has the following cost records for the year ended December 31, 2022: Indirect…

A: Step 1: Find Prime CostPrime Cost= Direct Material Used+ Direct labour+ Direct Expenses…

Q: Iron Sheets Company had the following information for the month of June 2021. Sales Purchases…

A: INCOME STATEMENT Income Statement is one of the Important Financial Statement of the Company. Income…

Question

Information from the records of the Conundrum Company for September 2018 was as follows:

Sales $307,500

Selling and administrative expenses 52,500

Direct materials used 66,000

Direct labor 75,000

Variable factory overhead 50,000

Factory overhead 51,250

Inventories

Sept. 1, 2018 Sept 30, 2018

Direct materials $ 8,000 $10,500

Work in process 18,750 21,000

Finished goods 17,250 14,250

Conundrum Corporation produced 20,000 units.

What are the total variable costs per unit?

a.$2.175

b.$6.25

c.$7.05

d.$9.55

Definition Definition Indirect costs incurred while producing goods or services. Overhead costs cannot be directly attributed to products or services. Overhead includes indirect material cost, indirect labor cost, rent, utilities expenses, and depreciation. Since these costs directly affect the profitability of a company, managing overhead becomes an important task for management.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Calculation of Total Variable Cost

VIEW

Step 3 Calculation of Variable Cost Per Unit

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 352,000 Direct labor, health insurance 32,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor 6,500 Administrative costs 54,000 Rental of office space for administrative staff 18,500 Sales commissions 52,000 Direct material 1,220,000 Indirect materials 633,000 Advertising expense 39,000 Depreciation on factory building 62,000 Indirect labor, wages 70,000 Production supervisor's salary 33,000 Use the above cost data to complete the table below. Total prime costs $4 Total manufacturing overhead costs $ Total product costs Total period costs
Using the information below, prepare a Cost of Production Report for CD Corporation's Packaging Department for May 2019 On May 1, 2019 the following were reported: Inventory In-Process-Packaging (5,500 units, 20% complete) Finished Goods (700 units at $7.25 a unit) 17,500 5,075 The following were charged to Work in Process- Packaging during May: Direct Materials transferred from Mixing 14,000 units @ $6.25 a unit. 87,500 Direct Labor 12,000 Factory Overhead 4,800 During May -15,500 units were transferred to finished goods and 13,700 units were sold. On May 30 Inventory was as follows Inventory in Process - Packaging: 4,000 units (40% complete) Finished Goods - 2,500 units
The cost of raw materials purchases for 2019 is?
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 352,000 Direct labor, health insurance 32,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor 6,500 Administrative costs 54,000 Rental of office space for administrative staff 18,500 Sales commissions 52,000 Direct material 1,220,000 Indirect materials 633,000 Advertising expense 39,000 Depreciation on factory building 62,000 Indirect labor, wages 70,000 Production supervisor's salary 33,000 Use the above cost data to complete the table below. Total prime costs Total manufacturing overhead costs $ Total product costs $ Total period costs
Monty Corporation has the following cost records for June 2022. Indirect factory labor $4,500 Factory utilities $390 Direct materials used 19,600 Depreciation, factory equipment 1,370 Work in process, 6/1/22 2,940 Direct labor 39,200 Work in process, 6/30/22 3,720 Maintenance, factory equipment 1,760 Finished goods, 6/1/22 Finished goods, 6/30/22 4,900 Indirect materials 2,250 7,350 Factory manager's salary 2,940 (a) Prepare a cost of goods manufactured schedule for June 2022. MONTY CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2022 > > > $ $ $ $
What is the total manufacturing cost charged to work in process during 2018 Calculate the cost of finished goods manufactured during 2018 Calculate cost of goods sold for 2018
Selected data for Lemon Grass Company for 2015 is provided below: Factory Utilities $ 1,500 Indirect Materials Used 37,500 Direct Materials Used 300,000 Property Taxes on Factory Building 6,900 Sales Commissions 85,000 Indirect Labor Incurred 25,000 Direct Labor Incurred 150,000 Depreciation on Factory Equipment 6,500 What is the total factory overhead? A) $450,000 B) $612,000 C) $77,400 D) $62,400
Cepeda Corporation has the following cost records for June 2018: + Indirect factory labor $4,500 Factory utilities $400 Direct materials used 20,000 Depreciation, factory equipment 1,400 Work in process, 6/1/18 3,000 Direct labor 40,000 Work in process, 6/30/18 3,800 Maintenance, factory equipment 1,800 Finished goods, 6/1/18 5,000 Indirect materials 2,200 Finished goods, 6/30/18 7,500 Factory manager's salary 3,000 Instructions a. Prepare a cost of goods manufactured schedule for June 2018. b. Prepare an income statement through gross profit for June 2018 assuming sales revenue is $92,100.
Cepeda Corporation has the following cost records for June 2018: + Indirect factory labor $4,500 Factory utilities $400 Direct materials used 20,000 Depreciation, factory equipment 1,400 Work in process, 6/1/18 3,000 Direct labor 40,000 Work in process, 6/30/18 3,800 Maintenance, factory equipment 1,800 Finished goods, 6/1/18 5,000 Indirect materials 2,200 Finished goods, 6/30/18 7,500 Factory manager's salary 3,000 Instructions a. Prepare a cost of goods manufactured schedule for June 2018. b. Prepare an income statement through gross profit for June 2018 assuming sales revenue is $92,100.

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

GET THE APP

About FAQ Academic Integrity Sitemap Document Sitemap

Contact Bartleby Contact Research (Essays)High School Textbooks Literature Guides Concept Explainers by Subject Essay Help Mobile App

GET THE APP

Privacy

Your CA Privacy Rights

Your NV Privacy Rights

Cookie Policy

About Ads

Manage My Data

bartleby, a Learneo, Inc. business

Sales	$307,500
Selling and administrative expenses	52,500
Direct materials used	66,000
Direct labor	75,000
Variable factory overhead	50,000
Factory overhead	51,250

	Inventories
	Sept. 1, 2018	Sept 30, 2018
Direct materials	$ 8,000	$10,500
Work in process	18,750	21,000
Finished goods	17,250	14,250