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: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $5.00 1.2.50 $ 1.40 $ 4.00 $ 2.00 $2.20 $1.20 $ 0.45 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) Total manufacturing overhead cost

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: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $5.00 1.2.50 $ 1.40 $ 4.00 $ 2.00 $2.20 $1.20 $ 0.45 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) Total manufacturing overhead cost

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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send to expert Required information Cost Classifications (Algo) Skip to question [The following information applies to the questions displayed below.] Kubin Company's relevant range of production is 15,000 to 19,000 units. When it produces and sells 17,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 7.60 Direct labor $ 4.60 Variable manufacturing overhead $ 2.10 Fixed manufacturing overhead $ 5.60 Fixed selling expense $ 4.10 Fixed administrative expense $ 3.10 Sales commissions $ 1.60 Variable administrative expense $ 1.10 Exercise 1 - 10 (Algo) Differential Costs and Sunk Costs [LO1 - 5] Required: What is the incremental manufacturing cost incurred if the company increases production from 17,000 to 17,001 units? What is the incremental cost incurred if the company increases production and sales from 17,000 to 17,001 units? Assume Kubin Company produced 17,000 units and expects to sell 16,740 of them. If a new customer unexpectedly…
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Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 4 pounds at $9.00 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $6 per hour Total standard variable cost per unit The company also established the following cost formulas for its selling expenses: Advertising Sales salaries and commissions Shipping expenses $36.00 45.00 18.00 $ 99.00 Fixed Cost per Month $ 210,000 $ 120,000 Variable Cost per Unit Sold $ 13.00 $ 4.00 The planning budget for March was based on producing and selling 26,000 units. However, during March the company actually produced and sold 31,000 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. b.…
How to calculate product costs?
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: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Total variable cost 2 5. If 8,000 units are produced and sold, what is the total amount of variable costs related to the units produced and sold? (Do not round intermediate calculations.) W S X H # 3 E D C $ 4 - 2023-01...0.40 PM 2023-01...2.52 PM 2022-12...6.4. - 9 M AO < K -0 ) O O V H I' P A command
Required information [The following information applies to the questions displayed below.] Cane Company manufactures two products called Alpha and Beta that sell for $205 and $164, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 127,000 units of each product. Its unit costs for each product at this level of activity are given below: Direct materials Direct labour Variable manufacturing overhead Traceable fixed manufacturing overhead Variable selling expenses Common fixed expenses Cost per unit Contribution margin per pound Alpha $40 Alpha 37 24 Beta 32 29 32 $194 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars. Beta $ 24 30 22 12. What contribution margin per pound of raw material is earned by Alpha and Beta? (Round your answers to 2 decimal places.)…
Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 4 pounds at $9.00 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $6 per hour Total standard variable cost per unit The company also established the following cost formulas for its selling expenses: Advertising Sales salaries and commissions Shipping expenses $ 36.00 45.00 18.00 $ 99.00 Fixed Cost per Month $ 210,000 $ 120,000 Variable Cost per Unit Sold $ 13.00 $ 4.00 The planning budget for March was based on producing and selling 26,000 units. However, during March the company actually produced and sold 31,000 units and incurred the following costs: Variable overhead rate variance a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this…
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: @ 2 6. If 12,500 units are produced and sold, what is the total amount of variable costs related to the units produced and sold? (Do not round intermediate calculations.) Direct materials Direct labor S Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Total variable cost W 00 Xx # 3 E D C $ 4 R FL 1 1 ( 2023-01...0.40 PM 2023-01...2.52 PM 2022-12 9 M A ^ K O 0 J € Ch P
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1. Providence 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: Fixed manufacturing overhead Fixed selling and administrative expense lanolevil subivibr The unit product cost under variable costing is: 7,000 mos i h $78 $89 $6 $3 $532,000 $574,000
Required information. Cost Classifications (Algo) [The following information applies to the questions displayed below] Kubin Company's relevant range of production is 26,000 to 35,500 units. When it produces and sells 30,750 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $8.50 $5.60 $ 3.10 1. Total amount of product cost 2. Total amount of period cost 3. Total amount of product cost 4 Total amount of period cost $6.60 $5.10 $.4.10 $2.00 $2.10 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4] Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 30,750 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 30,750 units? 3. For…