Not use ai solution please given answer The following information pertains to Alleigh's Mannequins.Manufacturing costs $1,550,000Units manufactured 31,000Units sold26,000 units sold for $90 per unitBeginning inventory 0 unitsWhat is the amount of gross margin?A. $1,550,000B. $1,300,000C. $1,040,000D. $2,340,000

Step 1: Define Gross Profit MarginThe gross margin and gross margin percentage are important…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

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The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units manufactured 30,000 Units sold 29,500 units sold for $85 per unit Beginning inventory O units What is the amount of gross margin? Select one: a. $1,475,000 b. $2,507,500 C. $1,500,000 d. $1,032,500
The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units manufactured 30,000 Units sold 29,500 units sold for $85 per unit Beginning inventory 0 units What is the amount of gross margin?
Driver Company manufactures two products. Data concern-ing these products are shown below: Direct TotalLabor ManufacturingHours OverheadHighest observed level . . . . . . . 6,000 $17,000Lowest observed level . . . . . . . . 4,000 14,000 Product A Product BTotal monthly demand (in units). . 1,000 200Sales price per unit . . . . . . . . . $400 $500Contribution margin ratio. . . . . 30% 40%Relative sales mix . . . . . . . . . . . 80% 20%If fixed costs are equal to $320,000, what amount of totalsales revenue is needed to break even?a. $914,286. c. $320,000.b. $457,143. d. $1,000,000.
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Cost of the product?
A company’s standard product cost is $9 per unit. Actual production costs were $11 per unit. The firm made 20 units and sold 17 units. The firm’s cost of goods sold was Select one: a. $220. b. $187 c. $153 d. $180
The following costs related to Lillian Company: Variable Costs per unit: Direct materials $2.50 Direct labor $0.75 Overhead $1.25 Selling & Administrative $1.50 Fixed Costs: Overhead $10,000 Selling & Administrative $5,000 Each unit sells for $15.00. At a sales volume of 15,000 units, what is Lillian Company’s total cost?
Grover Company has the following data for the production and sale of 2,200 units. Sales price per unit Fixed costs: Marketing and administrative Manufacturing overhead Variable costs: Marketing and administrative Manufacturing overhead Direct labor Direct Materials What is the prime cost per unit? $ 700 per unit $490,000 per period $308,000 per period $ $ 5555 $ $ 60 per unit 85 per unit 105 per unit 290 per unit
A product cost is composed of the following:

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The following information pertains to Alleigh's Mannequins. Manufacturing costs $1,550,000 Units manufactured 31,000 Units sold 26,000 units sold for $90 per unit Beginning inventory 0 units What is the amount of gross margin? A. $1,550,000 B. $1,300,000 C. $1,040,000 D. $2,340,000