Required information.Cost Classifications (Static)[The following information applies to the questions displayed below.]Kubin Company's relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, itsaverage costs per unit are as follows:Direct materialsDirect laborVariable manufacturing overheadFixed manufacturing overheadFixed selling expenseAverageCost perUnit$ 7.00$ 4.00$1.50$ 5.00$ 3.50Fixed administrative expense$ 2.50$ 1.00Variable administrative expense$ 0.50Sales commissionsExercise 1-8 (Static) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4]Required:1. For financial accounting purposes, what is the total product cost incurred to make 20,000 units?2. For financial accounting purposes, what is the total period cost incurred to sell 20,000 units?3. For financial accounting purposes, what is the total product cost incurred to make 22,000 units?4. For financial accounting purposes, what is the total period cost incurred to sell 18,000 units?Note: For all requirements, do not round intermediate calculations.1. Total product cost2. Total period cost3. Total product cost4. Total period cost

Product costs are inventoriable cost which means they form part of the cost of the…

Answered: Required information. 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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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 $6.00 $ 3.50 1.50 $4.08 $ 3.98 $ 2.00 $1.00 $ $ 8.50 9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production? Total fixed manufacturing cost
Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 9,500 units to 14,500 units. When it produces and sells 12,000 units, its unit costs are as follows: Amount Per Unit Direct materials $5.00 $2.50 $1.40 $3.00 $2.00 $2.20 $1.20 Direct labour Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense $0.45 4. If 12,000 units are sold, what is the variable cost per unit sold? (Round your answer to 2 decimal places.) Variable cost per unit sold
! 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 Per Unit Direct materials $ 6.80 Direct labor $ 4.30 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 3.80 Fixed administrative expense $ 2.20 Sales commissions $ 1.20 Variable administrative expense $ 0.45 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units? (Do not round intermediate calculations.) Total product cost
d ok rint erences Mc Graw Hill 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 W S 12. If 12,500 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.) Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Total manufacturing overhead cost Manufacturing overhead per unit H mmand X 7816 #3 E D C $ 4 R F F 1 2023-01...0.40 PM 2023-01...2.52 PM 2022-12...6.4 wong < M ( - O 9 A K O ) V -O 0 I H L I' P command - { I [ opti
Corporate data is as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost Cost per per Period Unit $6.30 $3.20 $1.35 $1.50 $0.50 $15,000 $ 3,500 f the selling price is $22 per unit, the contribution margin per unit sold is closest to:
Required information [The following information applies to the questions displayed below.] Kubin Company's relevant range of production is 21,000 to 25,000 units. When it produces and sells 23,000 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 $ 8.10 $ 5.10 $ 2.60 $ 6.10 $ 4.60 $ 3.60 $ 2.10 $ 1.60 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 23,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 23,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 25,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 21,000 units? (For all requirements, do not…
Could I see how sub-sets 1-3 are solved please?
Munabhai
What are the answers to Required 1, 2, and 3?
Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. $30 per unit $20 per unit $ 11 per unit 60,000 per year $3 per unit $ 22,000 per year $ Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses The company sells its product for $150 per unit. Compute contribution margin using variable costing assuming the company (a) produces and sells 2,400 units and (b) produces 3,000 units and sells 2,400 units. X Answer is complete but not entirely correct. Contribution margin using variable costing Sales Variable expenses Direct materials Direct labor Variable overhead Contribution margin (a) 2,400 Units Produced and 2,400 Units Sold ✔ $ X X X 360,000 $ 72,000 48,000 X 26,400 X 213,600 $ (b) 3,000 Units Produced and 2,400 Units Sold 360,000✔ 90,000 X 60,000 X 33,000 X 147,000
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