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Miller Company's total sales are $195,000. The company's direct labor cost is $23,400, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,250 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin? Answer is complete but not entirely correct. $ 54,600 $ 78,000 $ 78,000 S 9,750 $ 111,150 $ $ 1. Total manufacturing overhead cost 2. Total direct materials cost 3. Total manufacturing cost 4. Total variable selling and administrative cost 5. Total variable cost 6. Total fixed cost 7. Total contribution margin 19,500 X 83,850

Miller Company's total sales are $195,000. The company's direct labor cost is $23,400, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,250 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin? Answer is complete but not entirely correct. $ 54,600 $ 78,000 $ 78,000 S 9,750 $ 111,150 $ $ 1. Total manufacturing overhead cost 2. Total direct materials cost 3. Total manufacturing cost 4. Total variable selling and administrative cost 5. Total variable cost 6. Total fixed cost 7. Total contribution margin 19,500 X 83,850

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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Miller Company's total sales are $195,000. The company's direct labor cost is $23,400, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,250 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin? Answer is complete but not entirely correct. $ 54,600 $ 78,000 $ 78,000 X S 9,750 $ 111,150 $ 19,500 X $ 83,850 1. Total manufacturing overhead cost 2. Total direct materials cost 3. Total manufacturing cost 4. Total variable selling and administrative cost 5. Total variable cost 6. Total fixed cost 7. Total contribution margin
Transcribed Image Text:Miller Company's total sales are $195,000. The company's direct labor cost is $23,400, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,250 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin? Answer is complete but not entirely correct. $ 54,600 $ 78,000 $ 78,000 X S 9,750 $ 111,150 $ 19,500 X $ 83,850 1. Total manufacturing overhead cost 2. Total direct materials cost 3. Total manufacturing cost 4. Total variable selling and administrative cost 5. Total variable cost 6. Total fixed cost 7. Total contribution margin
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