Lillibridge & Friends, Incorporated provides you with the following data for its single product:Sales price per unitFixed costs (per quarter):Selling, general, and administrative (SG&A)Manufacturing overheadVariable costs (per unit):Direct laborDirect materialsManufacturing overheadSG&ANumber of units produced per quarterRequired:$ 601,500,0004,500,000912106500,000 unitsCompute the amounts for each of the following assuming that the production levels are within the relevant range if the number of unitsis 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter.Note: Do not round intermediate calculations. Round your answers to 2 decimal places.a. Prime cost per unitb. Contribution margin per unitc. Gross margin per unitd. Conversion cost per unite. Variable cost per unitf. Full absorption cost per unitg. Variable production cost per unith. Full cost per unit500,000 units 600,000 units

The objective of the question is to calculate various cost and margin per unit for Lillibridge &…

Answered: Lillibridge & Friends, Incorporated…

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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Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $800 per unit, of which $540 is product cost and $260 is selling and administrative expenses. In addition, the total cost of $800 is made up of $460 variable cost and $340 fixed cost. The desired profit is $168 per unit. Determine the markup percentage on total cost. %
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Rose Company has a relevant range of production between 10,000 and 25,000 units. The following cost data represents average cost per unit for 15,000 units of production.Using the cost data from Rose Company, answer the following questions:A. If 10,000 units are produced, what is the variable cost per unit?B. If 18,000 units are produced, what is the variable cost per unit?C. If 21,000 units are produced, what are the total variable costs?D. If 11,000 units are produced, what are the total variable costs?E. If 19,000 units are produced, what are the total manufacturing overhead costs incurred?F. If 23,000 units are produced, what are the total manufacturing overhead costs incurred?G. If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred?H. If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?
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