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Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price Direct materials Direct labor Variable overhead. Fixed overhead $ 56.10 per unit $9.10 per unit $6.60 per unit $ 11.10 per unit $ 750,300 per year 1. Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2

Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price Direct materials Direct labor Variable overhead. Fixed overhead $ 56.10 per unit $9.10 per unit $6.60 per unit $ 11.10 per unit $ 750,300 per year 1. Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2

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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Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price Direct materials Direct labor Variable overhead. Fixed overhead $ 56.10 per unit $9.10 per unit $6.60 per unit $ 11.10 per unit $ 750,300 per year 1. Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Gross profit < Required 1
Transcribed Image Text:Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing Sales price Direct materials Direct labor Variable overhead. Fixed overhead $ 56.10 per unit $9.10 per unit $6.60 per unit $ 11.10 per unit $ 750,300 per year 1. Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Gross profit < Required 1
Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. Sales price Direct materials Direct labor Variable overhead Fixed overhead 1. Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 $ 56.10 per unit $9.10 per unit $6.60 per unit $ 11.10 per unit $750,3 ,300 per year Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. Sales Cost of goods sold Gross profit (a) 61,000 Units Produced and 61,000 Units Sold S (b) 82,000 Units Produced and 61,000 Units Sold $ 3,422,100 4.019.900 (597 800) S 3,422,100 2,192,950 1,229,150 Required 2 >
Transcribed Image Text:Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. Sales price Direct materials Direct labor Variable overhead Fixed overhead 1. Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells? Complete this question by entering your answers in the tabs below. Required 1 Required 2 $ 56.10 per unit $9.10 per unit $6.60 per unit $ 11.10 per unit $750,3 ,300 per year Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b) 82,000 units are produced and 61,000 units are sold. Sales Cost of goods sold Gross profit (a) 61,000 Units Produced and 61,000 Units Sold S (b) 82,000 Units Produced and 61,000 Units Sold $ 3,422,100 4.019.900 (597 800) S 3,422,100 2,192,950 1,229,150 Required 2 >
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