Required information[The following information applies to the questions displayed below.]Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units,its average costs per unit are as follows:Average Cost PerUnitDirect materials$5.10Direct labor$2.60$Variable manufacturing overheadFixed manufacturing overheadFixed selling expense1.60$4.00$2.10Fixed administrativeexpense$2.10Sales commissions$1.10Variable administrative expense$0.5515. What incremental manufacturing cost willI Martinez incur if it increases production from 10,000 to 10,001 units? (Round your answerto 2 decimal places.)X Answer is complete but not entirely correct.Incremental cost per unit produced12,000.00 Required information[The following information applies to the questions displayed below.]Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units,its average costs per unit are as follows:Average Cost PerUnitDirect materials$5.10$$Direct labor2.60Variable manufacturing overheadFixed manufacturing overheadFixed selling expenseFixed administrative expense1.60$4.00$2.10$2.10Sales commissions$1.10Variable administrative expense$0.5513. If the selling price is $21.10 per unit, what is the contribution margin per unit? (Do not round intermediate calculations. Round youranswer to 2 decimal places.)X Answer is complete but not entirely correct.Contribution margin per unit$9.50

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rect labor $ 2.60 riable manufacturing overhead ked manufacturing overhead zed selling expense ced administrative expense $ 1.60 4.00 $ 2.10 $ 2.10 les commissions $ 1.10 riable administrative expense 0.55

rect labor $ 2.60 riable manufacturing overhead ked manufacturing overhead zed selling expense ced administrative expense $ 1.60 4.00 $ 2.10 $ 2.10 les commissions $ 1.10 riable administrative expense 0.55

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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Green and White Company reported the following monthly data: Units produced Sales price Direct materials Direct labor Variable overhead Fixed overhead What is Green and White's contribution margin for this month if 1,090 units were sold? Multiple Choice O $74,400 $26,160 $32,700 3,100 units $ 30 per unit $ 1 per unit $ 2 per unit $ 3 per unit $ 12,400 in total $93,000
Bowie Inc., a manufacturer of earnings, has accumulated the following cost information for products A and B: Production volume Engineering costs incurred Engineering costs per batch Batch size Total direct manufacturing labor hours Direct manufacturing labor hours/unit A $2.67 $4.00 $1.60 B $2.14 $3.00 500 $1.50 $2,000 $800 200 750 1.5 B 1,000 Assuming activity-based costing (ABC) is used, what is the engineering cost per unit for products A and B? $3,000 $1,500 500 1,400 Total $5,000 2,150
1- Chapter 1 Assignment i 1 of 15 € a 19 2 Total manufacturing overhead cost Manufacturing overhead per unit 4# Direct materials. Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Okay 3 4 Y A Saved 11. If 8,000 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? (Round your "per unit" answer to 2 decimal places.) & LO 5 * Help 6 Save & Exit 7 Average Cost per Unit $7.00 $4.50 $ 1.40 $ 4.00 $4.00 $ 2.10 $ 1.10 $ 0.55 You Check my work 8 Submit 9 } 11 0 d
5 Vista Company reports the following information. Direct materials Direct labor Variable overhead Fixed overhead Units produced Compute its product cost per unit under absorption costing. Multiple Choice $76.00. $152.00. $171.00. $ 44 per unit 64 per unit $ 44 per unit $ 380,000 per year 20,000 units < Pr
+ I/ MN * 00 SI 回2 ters 8-10 Saved Help Save & Exit Allure Company manufactures and distributes two products, M and XY. Overhead costs are currently allocated using the number of units produced as the allocation base. The controller has recommended changing to an activity-based costing (ABC) system. She has collected the following information: Activity AX 14 Cost Driver Amount Number of setups Number of parts Production setups 000 06 $ 000 111,000 Material handling 24 Packaging costs Number of units 333,750 000 $471,750 What is the total overhead per unit allocated to Product M using activity-based costing (ABC)? Multiple Choice $1.86. Mc Graw < Prev 16 of 25 < XƏN 10:21 F (罗 4/15/20 Type here to search PrtSc Delete 1 F10 F11 F12 Ins F8 F5 -D +D 反 F4 & %23 5. 6 3. 4. A G K. H. Alt
Applying Excel 13: Predetermined Overhead Rate ✓ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A B Raw Materials Inventory 57,500 5,700 43,000 Finished Goods Inventory 216,000 Factory Overhead 14,800 61,000 52,300 6,000 Multiple Choice с =+C17/F11 =+C17/(SUM(B17:B19)) =+E5/E3 37,000 14.800 173,000 =+E5/E4 122,100 D E Assuming the company applies overhead as a percentage of direct labor cost, which formula accurately computes the predetermined overhead rate? Work in Process Inventory 37,000 216,000 111.000 122,100 54,100 Factory Wages Payable 172,000 0 111.000 ......... 61,000
M Thu Sep 8 t 14 of 15 AA Period Ce b Home | bartl... 23 my.post.edu... X 14 Unit 1-... 14 rint ezto.mheducation.com A Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense 5 Total direct manufacturing cost Total indirect manufacturing cost Okay C Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: G what is the h. Average Cost per Unit $ 7.00 $4.50 $ 1.40 $ 4.00 $4.00 $ 2.10 $ 1.10 $ 0.55 14. If 12,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this level of production? (Do not round intermediate calculations.) @ 29% 4 + 88 Init 1-C... You a
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Subject : Accounting
Indirect materials Indirect labor Other overhead Overhead applied Star Promotions $ 22,000 46,000 Valle Builders $ 12,500 46,500 17,000 47,000 88,000 105,000 Star Promotions 1-a. Determine whether overhead is overapplied or underapplied. 1-b. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Valle Builders 2-a. Determine whether overhead is overapplied or underapplied. 2-b. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.