Q. No. 2: Martinez Company's relevant range of production is 15,000 units to 25,000 units. When it produces and sells 17,500 units, its average costs per unit are as follows: Average Cost per Unit ($) Selling Price 50 Direct materials 10 Direct labor. Variable manufacturing overhead Fixed manufacturing overhead. Fixed selling expense Fixed administrative expense 6. Sales commissions Variable administrative expense 2.5 Required: a. For financial accounting purposes, what is the total amount of product costs incurred to make 17,500 units? b. If 18,500 units are produced and sold, calculate the variable cost per unit and total for units produced and sold? c. If 19,000 units are produced, what is the average fixed manufacturing cost per unit produced? d. If 19,500 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?

Q. No. 2: Martinez Company's relevant range of production is 15,000 units to 25,000 units. When it produces and sells 17,500 units, its average costs per unit are as follows: Average Cost per Unit ($) Selling Price 50 Direct materials 10 Direct labor. Variable manufacturing overhead Fixed manufacturing overhead. Fixed selling expense Fixed administrative expense 6. Sales commissions Variable administrative expense 2.5 Required: a. For financial accounting purposes, what is the total amount of product costs incurred to make 17,500 units? b. If 18,500 units are produced and sold, calculate the variable cost per unit and total for units produced and sold? c. If 19,000 units are produced, what is the average fixed manufacturing cost per unit produced? d. If 19,500 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?

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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