Maryland Incorporated produces toys. Total manufacturing costs are $390,000 when 100,000 toys are produced. Of this amount, total variable costs are $130,000. What are the total production costs when 75,000 toys are produced? (Assume the same relevantrange for both production levels.)O A. $292,500O B. $97,500C. $357,500D. $487,500

Cost incurred to produce and sell a product consist of 2 components, variable cost, and fixed…

Answered: Maryland Incorporated produces toys.…

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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6. Atlantic Manufacturing produces and sells children’s bikes at an average price of $80. Its costs are as follows: direct materials = $14; direct labour = $8; variable overhead = $3; sales commission is 10% of price. Its fixed monthly costs are $42,000. Required: 1. Using the above cost data, set up a monthly cost equation. 2. What is the company’s contribution margin percentage? (Round your answer to 2 decimal places.)
Required _ what is the average cost per tractor.....
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14. IUPI produces and sells scale dinosaur figures. Total variable costs per unit are $ 5.00. Total fixed costs are $ 100,000. The company wants a net income of $ 90,000. Company taxes its income at 40%. If the company sells 50,000 units at what price should it sell.
3. Total fixed costs for Paper Flowers Inc. are $160,000. Total costs, including both fixed and variable, are $900,000 if 160,000 units are produced. The total variable costs at a level of 260,000 units would be ________. (Round any intermediary calculations to the nearest cent.) ⦁ $455,385⦁ $260,000⦁ $1,462,500⦁ $1,203,800
Wheel and Tire Manufacturing currently produces 1,000 tires per month. The following per unit data apply for sales to regular customers: Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing costs Select one: The plant has capacity for 3,000 tires and is considering expanding production to 2,000 tires. What is the total cost of producing 2,000 tires? a. $39,000 b. $78,000 C. 1. $62,000 $20 3 d. they are all wrong 6 10 $39
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