Please do not give solution in image format thanku Lens Care Incorporated (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for fine eyewear (F-32)and another for lenses used in binoculars, cameras, and similar equipment (B-13).The manufacturing cost of each unit is calculated using activity-based costing, using the following manufacturing cost pools:Cost PoolsMaterials handlingManufacturing supervisionAssemblyMachine setupInspection and testingPackagingLCI currently sells the B-13O $1,383.96.O $1,550.95.O $1,407.43.O $1,308.36.Allocation BaseNumber of partsHours of machine time $ 14.86Number of parts $ 3.60$ 56.80$ 45.80$ 19.80Costing Rate$ 3.00per partper hourper partEach setupLogged hoursper setupper hourLogged hoursper hourmodel for $3,125 and the F-32 model for $2,900. Manufacturing costs and activity usage for the two products are as follows:B-13 F-32Direct materials $164.80 $75.84Number of parts 166Machine hours 8.20Inspection time 2.30Packaging time 1.20Setups4The profit margin based on manufacturing cost for model B-13 is:1264.261.400.803

The manufacturing cost comprises direct materials and overhead costs. The overhead is applied to the…

Lens Care Incorporated (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for fine eyewear (F-32) and another for lenses used in binoculars, cameras, and similar equipment (B-13). The manufacturing cost of each unit is calculated using activity-based costing, using the following manufacturing cost pools: Cost Pools Materials handling Allocation Base Number of parts per part Hours of machine time $ 14.86 per hour $ 3.60 per part $ 56.80 Number of parts Each setup Logged hours Logged hours per setup $ 45.80 per hour $ 19.80 per hour model for $3,125 and the F-32 model for $2,900. Manufacturing costs and activity usage for the two products are as follows: Manufacturing supervision Assembly Machine setup Inspection and testing Packaging LCI currently sells the B-13 Costing Rate $ 3.00 B-13 F-32 Direct materials $164.80 $ 75.84 Number of parts 166 126 Machine hours 8.20 4.26 1.40 0.80 3 Inspection time 2.30 Packaging time 1.20 Setups 4 The profit margin based on manufacturing cost for model B-13 is:

Lens Care Incorporated (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for fine eyewear (F-32) and another for lenses used in binoculars, cameras, and similar equipment (B-13). The manufacturing cost of each unit is calculated using activity-based costing, using the following manufacturing cost pools: Cost Pools Materials handling Allocation Base Number of parts per part Hours of machine time $ 14.86 per hour $ 3.60 per part $ 56.80 Number of parts Each setup Logged hours Logged hours per setup $ 45.80 per hour $ 19.80 per hour model for $3,125 and the F-32 model for $2,900. Manufacturing costs and activity usage for the two products are as follows: Manufacturing supervision Assembly Machine setup Inspection and testing Packaging LCI currently sells the B-13 Costing Rate $ 3.00 B-13 F-32 Direct materials $164.80 $ 75.84 Number of parts 166 126 Machine hours 8.20 4.26 1.40 0.80 3 Inspection time 2.30 Packaging time 1.20 Setups 4 The profit margin based on manufacturing cost for model B-13 is:

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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