/ 4Practice Question(The following question is to be used for self study session)ProductionSales75%Just Toys Ltd. is a firm that produces stuff toys at the Montego Bay Free Zone. Details of theexpected number of stuff toys to be produced and sold for the last two quarters of thecalendar year 2003 are budgeted as follows:Selling price per toyCost per toy: Material+Required:a)b)Direct labourVariable production overheadFixed production overheadQuarter Ending Quarter EndingSeptemberDecember30,200331,200313,00015,00012,00016,000$70$14.00Normal output is 56,000 units per annum and this amount is used for the calculation offixed production overhead. Fixed production overhead accounts for the only productionoverhead variance. Fixed overhead expenditure and the production of stuff toys are spreadevenly throughout the year. There were no stuff toys in inventory at July 1, 2003.Marketing and administrative costs are:VariableFixed9.003.0010.0015% of sales revenue$480,000 per annumPrepare income statements for the quarters ended September 30,2003 andDecember 31,2003 on the basis of marginal costingExplain why the profit calculated under marginal costing would be different fromthe profit calculated as per total costing.

An income statement is a financial report that indicates the revenue and expenses of a business. It…

Production Sales Selling price per toy Cost per toy: Material Direct labour Variable production overhead Fixed production overhead Quarter Ending Quarter Ending September 30,2003 13,000 12,000 $70 $14.00 9.00 3.00 10.00 December 31,2003 15,000 16,000

Production Sales Selling price per toy Cost per toy: Material Direct labour Variable production overhead Fixed production overhead Quarter Ending Quarter Ending September 30,2003 13,000 12,000 $70 $14.00 9.00 3.00 10.00 December 31,2003 15,000 16,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 1CE: The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include:...

See similar textbooks

Similar questions

Exercises: 5.Lasse has an ice-cream stall. The budgeted costs for the following year are as follows: - material (ice-cream, chocolate...) - rent - salaries - depreciation - interest - other overheads 45 000 23 320 79 300 5 400 6 100 2 900 a) How much is the overhead rate (without profit)? b) How much is the overhead rate, if the expected profit for the following year is 10 000 euros? c) How much should the price of an ice-cream serving be, if the direct costs are 1,20 euros. Use the overhead rate of b)?
H3.
The expected costs for the Maintenance Department of Stazler, Inc., for the coming year include: Fixed costs (salaries, tools): 64,900 per year Variable costs (supplies): 1.35 per maintenance hour Estimated usage by: Actual usage by: Required: 1. Calculate a single charging rate for the Maintenance Department. 2. Use this rate to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year. 3. What if the Assembly Department used 4,000 maintenance hours in the year? How much would have been charged out to the three departments?
I need the subset of questions with the favorable non favorable and preferable filled out please thank you
engageNOWv2 |Online teachin x 2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inpro... to 田 Accepting Business at a Special Price Power Serve Company expects to operate at 90% of productive capacity during May. The total manufacturing costs for May for the production of 35,100 batteries are budgeted as follows: Direct materials $334,200 Direct labor 122,900 Variable factory overhead 34,300 Fixed factory overhead 69,000 Total manufacturing costs $560,400 The cor pany has an opportunity to submit a bid for 2,000 batteries to be delivered by May 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during May or increase the selling or administrative expenses. What is the unit cost below which Power Serve Company should not go in bidding on the government contract? Round your answer to two decimal places. per unit
i need the answer quickly
Do not give solution in image
Required information Problem 03.036 DEPENDENT MULTI-PART PROBLEM - ASSIGN ALL PARTS A process for producing the mosquito repellant Deet has an initial investment of $205,000 with annual costs of $55,000. Income is expected to be $90,000 per year. Problem 13.036.b: Calculate the breakeven point What is the annual breakeven production quantity for both payback periods if net profit, that is, income minus cost, is $10 per gallon? When i=0%, the annual breakeven production quantity is determined to be 3504 gallons per year. When 12%, the annual breakeven production quantity is determined to be 1914 gallons per year.
Vaibhav
Please help me with required a and required b and required c thanku
correct option provide
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Palermo Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for 2020 . Expected production and sales 6,100 units Expected selling price per unit $755 Total fixed costs $1,600,000 Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor. Data table Standard Quantity Standard Price Standard Unit Cost Direct materials 16 pounds $14 per pound $224 Direct manufacturing labor 3.8 hours $30 per hour $114 During 2020, actual number of units produced and sold was 5,100, at an average selling price of $790.Actual cost of direct materials used was…