ans Question: 53Martinez company's relevant range of production is 8,900 units to 13,900 units when it produces and sells11,400 units its unit cost are as follows:Direct materialDirect labor6.704.20Variable manufacturing overhead 1.40Fixed manufacturing overhead4.70Fixed administrative expenses3.70Sales commission2.10Variable administrative expense0.55What is the total amount of product costs incurred to make 11,400 units?

Explanation of Product Costs:Product costs are costs directly associated with the manufacturing of…

Answered: Question: 53 Martinez company's…

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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Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units of Simple and 146,100 of Removable, and the overhead for each of its cost pools is as follows: It has also estimated the activities for each cost driver as follows: Â How much is the overhead allocated to each unit of Simple and Removable?
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
Crafts 4 All has these costs associated with production of 12,000 units of accessory products: direct materials, $19; direct labor, $30; variable manufacturing overhead, $15; total fixed manufacturing overhead, $450,000. What is the cost per unit under both the variable and absorption methods?
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
Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, 216,000. 2. What was the total product cost for last year? 3. What was the total period cost for last year? 4. If 30,000 units were produced last year, what was the unit product cost?
Rex Industries has two products. They manufactured 12,539 units of product A and 8.254 units of product B. The data are: What is the activity rate for each cost pool?
Rocks Industries has two products. They manufactured 12,539 units of product A and 8.254 units of product B. The data are: Â What is the activity rate for each cost pool?
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Question: Gangwer Corporation produces a single product and has the following cost structure: Number of units produced each year 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. $95 B. $119 6,000 $ 43 $ 13 $ 5 $ 1 $2,04,000 $ 1,38,000 C. $61 D. $56
Assume a company manufactures many products, one of which normally sells for $48 per unit. The company's accounting system reports the following unit product cost for this product: Direct materials. Direct labor Manufacturing overhead Total cost Per Unit The company estimates that $3 of its manufacturing overhead varies with respect to the number of units produced. The remainder of its overhead is fixed and unaffected by the volume of units produced within the relevant range. Multiple Choice $18 12 10 $ 40 A customer has approached the company with an offer to buy 300 units of a customized version of the product mentioned above for $42. The company can fulfill this order using existing manufacturing capacity. To accommodate the customer's desired product design, the company would incur additional direct materials cost per unit of $3. It would also have to buy a special tool for $520 that has no other use or resale value after the special order is completed. Assuming that accepting this…
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