None Question 1Not yet answeredMarked out of 2.00Flag questionStevens Company manufactures electronic components used in automobile manufacturing. Each component uses two raw materials. Geo and Clio. Standard usage of the two mateinventory, are shown below.StandardMaterial Per UnitGeoClioPrice Current Inventory2.0 pounds $15/lb.1.5 pounds $10/lb.5,000 pounds7,500 poundsStevens forecasts sales of 20,000 components for each of the next two production periods. Company policy dictates that 25% of the raw materials needed to produce the next period'sBased on this information, what would the budgeted direct materials purchases for the coming period be?Select one:a. Geo- $825,000 Clio- $450,000b. Geo- $675,000 Clio- $400,000c. Geo- $450,000 Clio- $450,000d. Geo- $675,000 Clio- $300,000Save AnswersQ Search

Calculate the total amount of raw materials needed for production based on the sales forecast.For…

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Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...

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O Problem Set: Module 4 1. EX.06.01 2. PR.06.02A ALGO 3. BE.06.02.ALGO 4. BE.06.03.ALGO cengagenow.com ● Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $188 per unit during the current year. Its income statement is as follows: Sales Cost of goods sold Gross profit Expenses: Selling expenses Administrative expenses Total expenses Cost of goods sold Selling expenses Administrative expenses Total variable costs Total fixed costs $16,000,000 10,600,000 Operating income The division of costs between variable and fixed is as follows: Fixed Unit variable cost Unit contribution margin + 40 Variable 70% 75% 50% $188,000,000 (101,000,000) $87,000,000 (26,600,000) $60,400,000 Management is considering a plant expansion program for the following year that will permit an increase of $11,280,000 in yearly sales. The expansion will increase fixed costs by $5,000,000 but will not affect the relationship between sales and variable costs. Required: 1. Determine the…
Problem: AAA Company produces and sells Product X: Annual Demand 24,000 units Annual cost to held one unit of inventory P11.52 Order Cost P38.40 Beg. Inventory P 0 a. What is the Economic Order Quantity? b. How much is the total Order Costs? c. How much is the total Carrying Costs?
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Apps MAP Testing-NWEA myCCSD O CCSD Libraries I Imported From IE pw Del Webb Middle S... Other bookmarks P10-1 Absorption and variable costing income statements Biscayne Industries has determined the cost of manufacturing a unit of product as follows, based on normal production of 100,000 units per year: L01 Direct materials.... Direct labor..... $ 5 Search ********.... Variable factory overhead Fixed factory overhead... Total cost..... .....* ********* $15 VitalSource Bookshelf: Principles X A bookshelf.vitalsource.com/#/books/9781305480520/cfi/585!/4/4@0.00:2.39 Apps MAP Testing - NWEA myCCSD O CCSD Libraries Imported From IE DW Del Webb Middle S... 0 Other bookmarks 564 Principles of Cost Accounting Operating statistics for March and April include the following: March April Units produced. 12,000 18,000 Units sold.. 8,000 02.000 Selling and administrative expenses (all fixed).. $12,000 $12.000 The selling price is S20 per unit. There were no inventories on March 1, and there is no…
https://ezto.mheducation.com/ext/map/index. 01:43:47 eBook Mc Graw Hill 3 XYZ Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 54,000 to 94,000 units is given below: 76°F Sunny Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 84,000 units during the year at a selling price of $8.60 per unit. Prepare a contribution format income statement for the year. Total cost: Variable cost Fixed cost Total cost Cost per unit: Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Rou variable cost and fixed cost to 2 decimal places.) Variable cost Fixed cost Total cost per unit $ Saved $ $ 54,000 Units Produced and Sold 74,000 140,400 370,000…
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The Finance S x Foundationsc X Seafood - Eat x GWakefield, Rho x My Home * CengageNOW X /takeAssignment/takeAssignmentMain.do?invoker%3&takeAssignmentSessionLocator=&inprogress3-false * *: eBook Show Me How Equivalent Units of Production The Converting Department of Worley Company had 680 units in work in process at the beginning of the period, which were 40% complete. During the period, 14,400 units were completed and transferred to the Packing Department. There were 760 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Worley Company Number of Equivalent Units of Production Direct Materials Conversion Whole Units Equivalent Units Equivalent Units Inventory in process, beginning 680 Started and complețed 13,720 13,720 V 13,720 Transferred to…
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Cleveland Foods Data Note: You can download the Excel file containing Cleveland Foods' data by clicking the above link and perform the necessary calculations for answering the upcoming questions. Question 12 (1 point) □ What is the unit contribution of BlueLiq, considering the given information? $0.70 $2.50 $ 1.00 $1.70 $ $ J 0 20% Retail Margin 2.50 Price to consumers (Retail Price) 15% Wholesale Margin 2.00 Price to retailers (Wholesale Price) $ 1.70 Price to Wholesalers Variable Costs $ 0.70 per unit Fixed Costs Variable Manufacturing Costs $300,000 annual $200,000 Corporate Overhead $250,000 Marketing and Advertising $750,000 Total Fixed Costs Cleveland Foods Data Fixed Manufacturing Costs Note: You can download the Excel file containing Cleveland Foods' data by clicking the above link and perform the necessary calculations for answering the upcoming questions. Question 11 (1 point). Listen 4 What is the price at which Cleveland Foods sells BlueLiq to wholesalers? $1.70 $2.50 $1.00
еВook Print Item Evansville Company had the following transactions for the month. Number Cost of Units per Unit Purchase $5,000 Purchase 4 6,000 Purchase 5. 6,500 Calculate the gross margin for each of the following cost allocation methods, assuming Evansville sold just one unit of these goods for $11,000. Round your intermediate calculations and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) When prices are rising (inflation), which costing method would produce the highest value for gross margin? Check My Work Previous Nex 3.

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