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Question: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.5 pounds of the material, Ike uses 3.2 pounds of the material, and Bix uses 6.5 pounds of the material. The selling price per unit and variable costs per unit of each product follows. Kin Ike Bix Selling price per unit $176.05 $112.44 $227.40 Variable costs per unit Compute contribution margin per pound of material for each product. 100.00 83.00 152.00

Question: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.5 pounds of the material, Ike uses 3.2 pounds of the material, and Bix uses 6.5 pounds of the material. The selling price per unit and variable costs per unit of each product follows. Kin Ike Bix Selling price per unit $176.05 $112.44 $227.40 Variable costs per unit Compute contribution margin per pound of material for each product. 100.00 83.00 152.00

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter11: Differential Analysis And Product Pricing
Section: Chapter Questions
Problem 17E: Product cost method of product costing Smart Stream Inc. uses the product cost method of applying...
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Question: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.5 pounds of the material, Ike uses 3.2 pounds of the material, and Bix uses 6.5 pounds of the material. The selling price per unit and variable costs per unit of each product follows. Kin Ike Bix Selling price per unit $176.05 $112.44 $227.40 Variable costs per unit Compute contribution margin per pound of material for each product. 100.00 83.00 152.00
Transcribed Image Text:Question: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 4.5 pounds of the material, Ike uses 3.2 pounds of the material, and Bix uses 6.5 pounds of the material. The selling price per unit and variable costs per unit of each product follows. Kin Ike Bix Selling price per unit $176.05 $112.44 $227.40 Variable costs per unit Compute contribution margin per pound of material for each product. 100.00 83.00 152.00
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