Per unit information for Product M of Adolf Corporation is provided below:$80 per unitDirect materials per unitDirect labor per unit$60 per unitVariable overhead per unit$25 per unitVariable selling and administrative expensesFixed overheads$50 per unit$100,000Fixed selling and administrative expenses$300,000If the company produced and sold 50,000 units of Product M during the year, then the totalperiod cost under variable costing would be:a. $8,250,000b. $2,900,000c. $2,800,000d. $2,750,000AnswerABCD

Name: Per unit information for Product M of Adolf Corporation is provided b
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Per unit information for Product M of Adolf Corporation is provided below:$80 per unitDirect materials per unitDirect labor per unit$60 per unitVariable overhead per unit$25 per unitVariable selling and administrative expensesFixed overheads$50 per

Lets understand the basics. In variable costing period cost are total of fixed cost and all variable…

Business

Accounting

Per unit information for Product M of Adolf Corporation is provided below: $80 per unit Direct materials per unit Direct labor per unit $60 per unit Variable overhead per unit $25 per unit $50 per unit Variable selling and administrative expenses Fixed overheads $100,000 | Fixed selling and administrative expenses $300,000 If the company produced and sold 50,000 units of Product M during the year, then the total period cost under variable costing would be: a. $8,250,000 b. $2,900,000 c. $2,800,000 d. $2,750,000 Answer OA B C D

Per unit information for Product M of Adolf Corporation is provided below: $80 per unit Direct materials per unit Direct labor per unit $60 per unit Variable overhead per unit $25 per unit $50 per unit Variable selling and administrative expenses Fixed overheads $100,000 | Fixed selling and administrative expenses $300,000 If the company produced and sold 50,000 units of Product M during the year, then the total period cost under variable costing would be: a. $8,250,000 b. $2,900,000 c. $2,800,000 d. $2,750,000 Answer OA B C D

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Menk Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.80 Direct labor $ 3.80 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 20,200 Sales commissions $ 0.50 Variable administrative expense $ 0.40 Fixed selling and administrative expense $ 10,100 Required: a. If 5,220 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. b. If 5,220 units are sold, what is the total amount of variable costs related to the units sold? c. If 5,220 units are produced, what is the total amount of manufacturing overhead cost incurred? a. Variable cost per unit sold b. Total variable costs c. Total manufacturing overhead cost
Gregorie Tool & Die reports the following information for the quarter: Sales price $ 60 Fixed costs (for the quarter) Selling and administration 47,580 Production 142,740 Variable cost (per unit) Materials 16 Labor 13 Plant supervision 6 Selling and administrative 7 Number of units (for the quarter) 23,790 units Required: Select the answer for each of the following costs. Variable cost per unit. Variable production cost per unit. Full cost per unit. Full absorption cost per unit. Prime cost per unit. Conversion cost per unit. Contribution margin per unit. Gross margin per unit.
Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per quarter Required: $ 60 1,500,000 4,500,000 9 12 10 6 500,000 units Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 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 unit b. Contribution margin per unit c. Gross margin per unit d. Conversion cost per unit e. Variable cost per unit f. Full absorption cost per unit g. Variable production cost per unit h. Full cost per unit 500,000 units 600,000 units
Farrow Company reports the following annual results. Contribution Margin Income Statement Sales (200,000 units) Variable costs Direct materials Direct labor Overhead Contribution margin Fixed costs Fixed overhead Fixed general and administrative Income Per Unit $ 15.00 Annual Total $ 3,000,000 2.00 400,000 4.00 800,000 2.50 500,000 6.50 1,300,000 2.00 1.50 400,000 300,000 $ 3.00 $ 600,000 The company receives a special offer for 20,000 units at $13 per unit. The additional sales would not affect its normal sales. Variable costs per unit would be the same for the special offer as they are for the normal units. The special offer would require incremental fixed overhead of $80,000 and incremental fixed general and administrative costs of $86,000. (a) Compute the income or loss for the special offer. (b) Should the company accept or reject the special offer? Complete this question by entering your answers in the tabs below. Required A Required B Compute the income or loss for the special…
Swisher, Incorporated reports the following annual cost data for its single product. Normal production level 30,000 units Direct Materials $6.40 per unit Direct Labor $3.93 per unit Variable Overhead $5.80 per unit Fixed Overhead $150,000 in total This product is normally sold for $48 per unit. If Swisher increases its production to 50,000 units, while sales remain at the current 30,000 unit level, by how much would the company's contribution margin increase or decrease under variable costing? $60,000 decrease $90,000 decrease $90,000 increase no change $90,000 increase
Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,150 rackets and sold 4,980. Each racket was sold at a price of $90. Fixed overhead costs are $79,950 per year, and fixed selling and administrative costs are $65,600 per year. The company also reports the following per unit variable costs for the year. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Prepare an income statement under variable costing. Contribution margin Less: Fixed expenses Income X Answer is not complete. Sales Less: Variable expenses Variable selling and administrative expenses Variable cost of goods sold ACES INCORPORATED Income Statement (Variable Costing) Fixed overhead Fixed selling and administrative expenses $ 448,200 2852 $12
Kubin Company's relevant range of production is 15,000 to 19,000 units. When it produces and sells 17,000 units, its average costs per unit are as follows: Amount per Unit $ 7.60 $ 4.60 $ 2.10 $ 5.60 $ 4.10 $ 3.10 $ 1.60 $ 1.10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required: 1. If 15,000 units are produced and sold, what is the variable cost per unit produced and sold? 2. If 19,000 units are produced and sold, what is the variable cost per unit produced and sold? 3. If 15,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold? 4. If 19,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold? 5. If 15,000 units are produced, what is the average fixed manufacturing cost per unit produced? 6. If 19,000 units are produced,…
Intercontinental, inc., provides you with the following data for its single product Sales price per unit $ 50.00 Fixed costs (per month) Selling, general, and administrative (SG&A) 1,350,000 Manufacturing overhead 2,700,000 Variable costs (per unit) Direct labor 7.00 Direct materials 12.00 Manufacturing overhead 10.00 SG&A…
Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 5.50 Direct labor $ 3.00 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 2.50 Fixed administrative expense $ 2.00 Sales commissions $ 1.00 Variable administrative expense $ 0.50 Required: If 12,500 units are produced and sold, what is the variable cost per unit produced and sold? (Round your answer to 2 decimal places.)
Swisher, Incorporated reports the following annual cost data for its single product: Normal production level 30,000 units Direct materials $6.40 per unit Direct labor $3.93 per unit Variable overhead $5.80 per unit Fixed overhead $150,000 in total This product is normally sold for $48 per unit. If Swisher increases its production to 50,000 units, while sales remain at the current 30,000 unit level, by how much would the company's income increase or decrease under variable costing? $60,000 decrease. b. $90,000 decrease. c.There is no change in gross margin. d. $90,000 increase. e. $60,000 increase.
Yancey, Inc. reports the following information: Units produced Units sold Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead 580 units 580 units $130 per unit $10 per unit $25 per unit - $30 per unit $22,000 per year Variable selling and administrative costs Fixed selling and administrative costs $20 per unit $15,000 per year What is the amount of unit product cost that will be considered for external reporting purposes? (Round any intermediate calculations and your final answer to the nearest cent.) OA. $95.00 OB. $72.93 OC. $102.93 OD. $62.93
Kubin Company's relevant range of production is 11,000 to 14,000'units. When it produces and sells 12,500 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $ 7.20 $ 4.20 $ 1.70 $ 5.20 $ 3.70 $ 2.70 $ 1.20 $ 0.70 Required: 1. What is the incremental manufacturing cost incurred if the company increases production from 12,500 to 12,501 units? 2. What is the incremental cost incurred if the company increases production and sales from 12,500 to 12,501 units? 3. Assume that Kubin Company produced 12,500 units and expects to sell 12,280 of them. If a new customer unexpectedly emerges and expresses interest in buying the 220 extra units that have been produced by the company and that would otherwise remain unsold, what is the incremental manufacturing cost per unit incurred to sell…