Direct materials(per kg)Direct labour (per hour)Direct ExpensesSelling priceSales DemandTotal Fixed CostsRankUnits producedProduct 1Product 2Product 3Product 4£ per kg/hour£₤£44413.1423.00 ££14.60 £18.25₤25.5511.50 £30.66£26.8372211.28 £42.0014,490£38.003.83 ££2.56 £6.3964.00£68.005,9804,1409,890£ 137,000.00Product 14Product 22Product 31Product 435,9804,1407,324A management accounting graduate has successfully created the optimal production planfor the four products above.Calculate the profit and values below.|Total £SalesVariable CostsProfitEnter your values to 2 decimal places with no £ sign or commas.

Variable cost:The cost which change with the change in the number of units is known as variable…

Product 1 £ Product 2 £ Product 3 £ Product 4 £ per kg/hour £ Direct materials(per kg) £ 13.14 £ 14.60 £ 18.25 £ 25.55 7 Direct labour (per hour) £ 23.00 £ 11.50 £ 30.66 £ 26.83 21 Direct Expenses £ 1.28 £ 3.83 £ 2.56 £ 6.39 Selling price £ 42.00 £ 38.00 £ 64.00 £ 68.00 Sales Demand 14,490 5,980 4,140 9,890 Total Fixed Costs £ 137,000.00 Rank Units produced Product 1 Product 2 4 2 Product 3 1 Product 4 3 5,980 4,140 7,324 A management accounting graduate has successfully created the optimal production plan for the four products above. Calculate the profit and values below. | Total £ Sales Variable Costs Profit Enter your values to 2 decimal places with no £ sign or commas.

Product 1 £ Product 2 £ Product 3 £ Product 4 £ per kg/hour £ Direct materials(per kg) £ 13.14 £ 14.60 £ 18.25 £ 25.55 7 Direct labour (per hour) £ 23.00 £ 11.50 £ 30.66 £ 26.83 21 Direct Expenses £ 1.28 £ 3.83 £ 2.56 £ 6.39 Selling price £ 42.00 £ 38.00 £ 64.00 £ 68.00 Sales Demand 14,490 5,980 4,140 9,890 Total Fixed Costs £ 137,000.00 Rank Units produced Product 1 Product 2 4 2 Product 3 1 Product 4 3 5,980 4,140 7,324 A management accounting graduate has successfully created the optimal production plan for the four products above. Calculate the profit and values below. | Total £ Sales Variable Costs Profit Enter your values to 2 decimal places with no £ sign or commas.

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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1- Chapter 1 Assignment i 1 of 15 € a 19 2 Total manufacturing overhead cost Manufacturing overhead per unit 4# Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required information [The following information applies to the questions displayed below.] 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: Okay 3 4 Y A Saved 11. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places.) & LO 5 * Help 6 Save & Exit 7 Average Cost per Unit $7.00 $4.50 $ 1.40 $ 4.00 $4.00 $ 2.10 $ 1.10 $ 0.55 You Check my work 8 Submit 9 } 11 0 d
Accounting Year 5 Year 6 ww АВ ww AB 120,000 30,000 90,000 90,000 Direct Material Requirements 2 Cuble Foot All Wood All Bark Cubic Yards Cubic Feet Bags Bins Bins Raw Material Cost per Cubic Dumpster containers hold 20 540 270 Ft (Yr 5) Raw Material Cost per Cubic 0.15 0.3 Temporary Sorting Collection Bins/Bags 5 135 67.5 Ft (Yr 6) 0.1 0.35 Direct material cost Year 5 Year 6 ww AB ww AB ww АВ Total bins processed Actual price paid per usable cubic yard of input Average direct labor time per bin 120,000 $4.05 30,000 $8.10 4 hours What is the Direct Material Costs for Years 5 & 6 of WW and AB?
Indicator ' A 16 17 18 19 20 (1) $126,000 105,000 84,000 $200,000 D (2) $150,000 128,000 22,000 $138,000 E 1 2 Required: 3 Determine the missing amount for each separate situation involving work in process cost flows. 4 5 6 Total manufacturing costs 7 Work in process inventory, beginning 8 Work in process inventory, ending 9 Cost of goods manufactured 10 11 12 13 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 14 Nothing in this area will be graded, but it will be submitted with your assignment. 15 (3) $217,000 32,000 185,000 $237,000 F G H 1 J
Question 8 SP for Direct Labor per direct labor hour $1.70 Actual Direct Labor $12,960 SQ x SP for Direct Labor $11,560 Actual Direct Labor Hours 6,500 The standard quantity (SQ) of direct labor hours is: O 6500 O 7000 O 6800 O 7624 (rounded) O Cannot be determined.
A 1 Chapter 7: Applying Excel 2 3 Data 4 Selling price per unit 5 Manufacturing costs: 6 7 8 Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead 9 10 Fixed manufacturing overhead per year 11 Selling and administrative expenses: 12 Variable per unit sold 13 Fixed per year 14 15 16 Units in beginning inventory 17 Units produced during the year 18 Units sold during the year 25 Units in beginning inventory 26 Units produced during the year 27 Units sold during the year 28 Units in ending inventory 29 30 Compute the Absorption Costing Unit Product Cost 31 32 Direct materials 33 Direct labor 34 Variable manufacturing overhead 35 Fixed manufacturing overhead 36 Absorption costing unit product cost 37 19 20 Enter a formula into each of the cells marked with a ? below 21 Review Problem 1: Contrasting Variable and Absorption Costing 22 23 Compute the Ending Inventory 24 46 Compute the Variable Costing Unit Product Cost 47 48 Direct materials 49 Direct labor…
A1 fx Chapter 10: Applying Excel A В C E F 1 Chapter 10: Applying Excel 2 3 Data 4 Exhibit 10-1: Standard Cost Card Iпрuts Standard Quantity 2.9 pounds Standard Price 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead $4.00 per pound $22.00 per hour $6.00 per hour 0.60 hours 0.60 hours 9. 10 Actual results: Actual output 11 2,000 units $7,140 Actual Quantity 6,500 pounds 12 Actual variable manufacturing overhead cost Actual price $3.80 per pound $21.60 per hour 13 14 Actual direct materials cost 15 Actual direct labor cost 1,050 hours 16 17 Enter a formula into each of the cells marked with a ? below 18 Main Example: Chapter 10 19 20 Exhibit 10-4: Standard Cost Variance Analysis- Direct Materials 21 Standard Quantity Allowed for the Actual Output, at Standard Price 22 Actual Quantity of Input, at Standard Price 23 Actual Quantity of Input, at Actual Price 5,800 pounds x 6,500 pounds x 6,500 pounds x $4.00 per pound = $4.00 per pound = $3.80 per pound = $23,200 $26,000…
2 3 Sales Projections in Units # January February March 5 6 7 8 9 14 15 0 Projected Sales Price/Unit $ 11 12 Monthly Projected Selling & Administrative Expenses 13 16 17 7 18 9 20 21 2 23 24 25 25 27 28 29 20 31 2 33 4 5 36 37 38 39 19 22 April May 20 Materials 32 Variable Cost/Unit Fixed Costs 34 Production: 35 Desired Ending Inventory Beginning 26 Direct Labor Inventory (new business) Desired Ending Inventory Number of Materials per Unit Projected Cost/Material Unit Beginning Inventory (new business) 30 Manufacturing Overhead Variable Cost/Unit Fixed Costs Time per Unit (in hours) per Hour Cost 21,945 28,615 $ 42,948 54,526 34,817 $ 12.00 $ 2,662.00 $ $ 206.00 52.6% 0 81.0% 0 7.0 5.00 1.00 $ 16.00 5.00 3,909
MANUFACTORING Investigate % A packaging employee making $18 per hour can package 90 items during that hour. The direct material cost is $1.20 per item. What is the total direct cost of 1 item? A. $1.20 C. $1.40 o' F5 ^ F6 & F7 S F8 B. $0.20 a D. $1.00 DELL F9 I= ACC prtsc F10 home F11 end F12
Question Content Area A company manufactured 50,000 units of a product at a cost of $450,000. It sold 45,000 units at $15 each. The gross profit is a. $240,000 b. $600,000 c. $750,000 d. $270,000
Question z Answer saved Cost Formulas Marked out of 1.45 Material A Material B Material C Cutting labor Shaping labor Finishing labor Hag question $25/pound $100/gallon $45/hour $55/hour $60/ hour Saved to this PC Shorewood Manufacturing produces a single product requiring the following directmaterial and direct labor: Cost per Unit of Input Required Amount per Unit of Product $40 / pound 10 ounces Homework 6 8 ounces 0.3 gallon 30 minutes 15 minutes 45 minutes Variable Manufacturing overhead consists of indirect material, $0.60 per unit of product; indirect labor, $1,000 per month plus $0.70 per unit of product; factory maintenance, $14,000 per year plus $0.55 per unit of product; factory depreciation, $15,000 per year; and annual factory property taxes, $8,000. Selling and administrative expenses include the salaries of a sales manager, $30,000 per year; an office manager, $18,000 per year; and two salespersons, each of whom is paid a base salary of $11,000 per year and a commission…
when the company purchases raw materials for $60,000 on account, the entry should include: * A debit to Raw Materials Inventory O $60,000 and a credit to Accounts Payable $60,000 A debit to Raw Material Inventory O $60,000 and a credit to Cash $60,000 A debit to Direct Material $60,000 and a credit to Accounts Payable $60,000 None of the above
Question 9.3 Burnaby traders makes four products in a single facility. Following information regarding products is given: Product A B C D Selling Price per Unit $35.30 $30.20 $20.80 $26.00 Variable Manufacturing Cost per Unit $16.50 $15.80 $7.90 $8.50 Variable Selling Cost per Unit $3.80 $1.60 $1.90 $3.30 Milling Machine Minutes per Unit 3.20 1.80 2.20 2.50 Monthly Deman in Units 4,000 1,000 3,000 1,000 Maximum minutes on all machines (22,600) Required: 1) How many minutes of milling machine time would be required to satisfy demand for all four products? 2) Which product makes the LEAST profitable use of the milling machines? 3) Which product makes the MOST profitable use of the milling machines?