-Saverage costs per unit are as follows:Direct materialsDirect laborVariable manufacturing overheadFixed manufacturing overheadFixed selling expenseFixed administrative expenseSales commissionsVariable administrative expenseAverage Costper Unit$7.10$4.10$ 1.60$ 5.10$ 3.60$ 2.601. Total amount of product cost2. Total amount of period cost incurred3. Total amount of product cost4. Total amount of period cost$ 1.10$ 0.60Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1--Required:1. For financial accounting purposes, what is the total amount of product costs incurred to make 11,000 units?2. For financial accounting purposes, what is the total amount of period costs incurred to sell 11,000 units?3. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units?4. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units?(For all requirements, do not round intermediate calculations.)

PRODUCT COSTProduct Cost are those Cost which is associates with the Manufacturing of…

S 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 $7.10 $4.10 $ 1.60 $ 5.10 $ 3.60 $ 2.60 $ 1.10 $ 0.60 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 11,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 11,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (For all requirements, do not round intermediate calculations.)

S 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 $7.10 $4.10 $ 1.60 $ 5.10 $ 3.60 $ 2.60 $ 1.10 $ 0.60 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 11,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 11,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (For all requirements, do not round intermediate calculations.)

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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High-Low Method Tashiro Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 4,185 $294,840 1,485 189,540 2,840 203,440 a. Determine the variable cost per unit and the total fixed cost. Variable cost (Round to two decimal places.) $fill in the blank 1 per unit Total fixed cost $fill in the blank 2 b. Based on part (a), estimate the total cost for 2,040 units of production. Total cost for 2,040 units: $fill in the blank 3
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Question 1 Answer: Question 2 a Total Manufacturing Costs: Variable Fixed Factory Overhead Total Cost Per Unit b Markup Percentage % Seling Price
(a) What is the gross margin now? (b) What is the net operating income now? (c) What is the contribution margin now?
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