Sales Direct materials Direct labor overhead-variable Manufacturing Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $ 1,800,000 430,000 360,000 380,000 280,000 70,000 65,000 20,000 60,000

Sales Direct materials Direct labor overhead-variable Manufacturing Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $ 1,800,000 430,000 360,000 380,000 280,000 70,000 65,000 20,000 60,000

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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Question 13?
Question Content Area Compute conversion costs given the following data: direct materials, $376,200; direct labor, $200,400; factory overhead, $179,400 and selling expenses, $48,400. a. $555,600 b. $131,000 c. $756,000 d. $379,800
Question 19?
High-Low and Cost Formula Harrison Company has accumulated the following total manufacturing overhead costs for two levels of activity (within the relevant range): High Low 90,000 130,000 Activity (direct labor hours) Total manufacturing overhead $484,000 $628,000 The total overhead cost includes variable, fixed, and mixed costs. At 130,000 direct labor hours, the total cost breakdown is as follows: Variable cost $286,000 Fixed cost 85,000 Semi-mixed cost $257,000 a. Using the high-low method of cost analysis, determine the variable portion of the semi-variable cost per direct labor hour. Determine the total fixed cost component of the mixed cost. Isolate mixed costs: Do not use negative signs with your answers. Low High $ Total cost Less: Variable cost Fixed cost Total mixed cost $ 0 $ 0 0 0 $ 0 0 0 0 High-Low Analysis: Round variable portion per unit to two decimal places, if applicable.
EstimatedFixedCost EstimatedVariableCost(perunitsold) Production costs: Direct materials $19 Direct labor 13 Factory overhead $261,300 10 Selling expenses: Sales salaries and commissions 54,300 4 Advertising 18,400 Travel 4,100 Miscellaneous selling expense 4,500 4 Administrative expenses: Office and officers' salaries 53,100 Supplies 6,500 2 Miscellaneous administrative expense 6,040 2 Total $408,240 $54 It is expected that 8,640 units will be sold at a price of $135 a unit. Maximum sales within the relevant range are 11,000 units. Required: Question Content Area 1. Prepare an estimated income statement for 20Y7. Belmain Co.Estimated Income StatementFor the Year Ended December 31, 20Y7 $- Select - Cost of goods sold: $- Select - - Select - - Select -…
Production and sales (units) Materials cost ($) Labour cost per unit ($) at $12 per hour Machine hours (per unit) Total no. of production runs Total no. of purchase orders Total no. of deliveries to retail division Market/Retail prices Overhead costs: Machine set-up costs ($) Machine maintenance costs ($) Ordering costs ($) Delivery costs ($) Total ($) Product S Product R 3,200 5,450 117 95 9 1 12 64 80 260 total: 6 2 30 82 64 320 306,435 415,105 11,680 144,400 877,620 Rinse @ $241.69 = full cost +10% oll Retail price Rinse: $260 The company's policy is to transfer the washing machines from the assembly division to the retail division at full cost plus 10% resulting in internal transfer prices, of $220.17 and $241.69 for S and R when transferred to the retail division. The retail division sells S for $320 per machine and R for $260 per machine to the market. (a) Use activity based costing to allocate the overheads and recalculate the transfer prices for S and R. (b) Calculate the…
Identify the semi-variable costs: 10,000 units 18,000 units Materials $15,000 $27,000Labour $13,000 $19,400Rent $11,500 $11,500Selling overheads $30,000 $46,000 Question 2 options: 1) materials and labour 2) labour and rent 3) rent and selling overheads 4) labour and selling overheads
Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit cost Cost per Unit $ 32.50 13.00 19.50 26.00 $91.00 An outside supplier has offered to provide Cotton with the 10,000 subcomponents at an $84.50 per-unit price. No portion of fixed overhead is avoidable. If Cotton accepts the outside offer, what will be the effect on short-term profits?
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7 Skipped Pedregon Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense If 6,500 units are sold, the total variable cost is closest to: Multiple Choice $93,600 $112,450 $83,525 $75,400 Cost per Unit $ 6.60 $ 3.60 $ 1.40 $ 0.60 $ 0.65 Cost Per $23 $ 3
Total Amount Units Sales Variable Costs: 31,250 Per Unit $ 445,313 $ 14.25 Direct Materials $ 125,000 4.00 = Direct Labor $ 28,000 0.90 = Variable Manufacturing Overhead $ 66,250 2.12 = Sales Commissions $ 15,625 0.50 = Shipping Variable Billing Total Variable Costs $ 3,125 0.10 $ 313 0.01 $ 238,313 7.63 Contribution Margin $ 207,000 6.62 Fixed Costs: Fixed Manufacturing Overhead Advertising Sales and Admin. Salaries Fixed Billing Total Fixed Costs Net Operating Income (Loss) 40,000 16,800 87,300 10,000 154,100 $ 52,900 F. Using the budgeted contribution margin income statement in part E. above, calculate the following: a. Breakeven in units: b. Operating Leverage Multiplier: Given a sales volume increase of 8%, operating income will increase by: c. Percent: d. Dollars: #N/A #N/A #N/A #N/A