Need answer the question Question: 23Gangwer Corporation produces a single product and has the followingcost structure:Number of units produced each year9,000Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrative expenseFixed costs per year:Fixed manufacturing overheadFixed selling and administrative expenseThe absorption costing unit product cost is:a. $147.5b. $163.5c. $41.5d. $99.5$ 58$ 28$ 20$ 16$ 3,73,500$ 2,74,500

Absorption costing includes all manufacturing costs in the cost of a product. This means both…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases: A. Total direct materials cost B. Electricity costs of 1,000 per month plus 0.10 per kilowatt-hour C. Per-unit cost of straight-line depreciation on factory equipment D. Salary of quality control supervisor, 20,000 per month E. Per-unit direct labor cost
Hart Manufacturing makes three products. Each product requires manufacturing operations in three departments: A, B, and C. The labor-hour requirements, by department, are as follows: During the next production period the labor-hours available are 450 in department A, 350 in department B, and 50 in department C. The profit contributions per unit are 25 for product 1, 28 for product 2, and 30 for product 3. a. Formulate a linear programming model for maximizing total profit contribution. b. Solve the linear program formulated in part (a). How much of each product should be produced, and what is the projected total profit contribution? c. After evaluating the solution obtained in part (b), one of the production supervisors noted that production setup costs had not been taken into account. She noted that setup costs are 400 for product 1, 550 for product 2, and 600 for product 3. If the solution developed in part (b) is to be used, what is the total profit contribution after taking into account the setup costs? d. Management realized that the optimal product mix, taking setup costs into account, might be different from the one recommended in part (b). Formulate a mixed-integer linear program that takes setup costs provided in part (c) into account. Management also stated that we should not consider making more than 175 units of product 1, 150 units of product 2, or 140 units of product 3. e. Solve the mixed-integer linear program formulated in part (d). How much of each product should be produced and what is the projected total profit contribution? Compare this profit contribution to that obtained in part (c).
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
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Question: 23 Gangwer Corporation produces a single product and has the following cost structure: Number of units produced each year 9,000 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expense The absorption costing unit product cost is: a. $147.5 b. $163.5 c. $41.5 d. $99.5 $ 58 $ 28 $ 20 $ 16 $ 3,73,500 $ 2,74,500
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Assume the following information for a company that produced and sold 10,000 units during its first year of operations: Per Unit Per Year $ 200 Selling price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Using absorption costing, what is the company's unit product cost? Multiple Choice $176 $146 $166 $ 84 $ 50 $ 12 $ 300,000 D
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