The following variable production costs apply to goods made by Walton Manufacturing Corporation: Item Cost per unit $10.00 Materials Labor 8.50 Variable overhead 1.20 Total $19.70 Required Determine the total variable production cost, assuming that Walton makes 9,000, 19,000, or 29,000 units. Units Produced 9,000 19,000 29,000 Total variable cost

The following variable production costs apply to goods made by Walton Manufacturing Corporation: Item Cost per unit $10.00 Materials Labor 8.50 Variable overhead 1.20 Total $19.70 Required Determine the total variable production cost, assuming that Walton makes 9,000, 19,000, or 29,000 units. Units Produced 9,000 19,000 29,000 Total variable cost

Name: The following variable production costs apply to goods made by Walton
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: The following variable production costs apply to goods made by Walton Manufacturing Corporation:Cost per unit$10.00ItemMaterialsLabor8.50Variable overhead1.20Total$19.70RequiredDetermine the total variable production cost, assuming that Walton makes

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Having an issue with this problem. Thank you
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
Doom Bhd manufactures and sells a single product. Cost data for the product are givenbelow:Variable costs per unit:Direct materials RM 7Direct labour RM 10Variable manufacturing overhead RM 5Variable selling and administrative overhead RM 3Total variable cost per unit RM 25Fixed costs per month:Fixed manufacturing overhead RM315,000Fixed selling and administrative overhead RM245,000RM560,000The product sells for RM60 per unit. Production and sales data for July and August, that is,the first two months of operations, follow:Units produced Units soldJuly 17,500 15,000August 17,500 20,000The company’s Accounting Department has prepared an absorption costing income statementfor July and August as presented below:July AugustSales RM 900,000 RM 1,200,000(-) Cost of goods sold (RM 600,000) (RM 800,000)Gross margin RM 300,000 RM 400,000(-) Selling and administrative expenses (RM290,000) (RM 305,000)Net operating income RM10,000 RM 95,000As a cost accountant, you would like to suggest that the…
On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (6,100 units) Cost of goods sold: Cost of goods manufactured (7,000 units) Inventory, November 30 (1,000 units) Total cost of goods sold Gross profit $161,000 Sales Variable cost of goods sold: Variable cost of goods manufactured Inventory, November 30 (23,000) $201,300 138,000 $63,300 Selling and administrative expenses 35,910 Income from operations $27,390 Assume the fixed manufacturing costs were $38,640 and the fixed selling and administrative expenses were $17,590 Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Weatherford Company Variable Costing Income Statement For the Month Ended November 30 201,300
Given the following data, calculate product cost per unit under absorption costing. Direct labor Direct materials Variable overhead Fixed overhead Units produced per year Multiple Choice $28.00 per unit $28.60 per unit $30.00 per unit $30.90 per unit $ 17.00 per unit $ 11.00 per unit $ 0.90 per unit $ 100,000 50,000 units
For each variable cost per unit listed below, determine the total variable cost when units produced and sold are 40, 80, and 160 units. Direct materials $ 35 Direct labor 55 Variable overhead Sales commission 11 12 Begin by calculating the total variable cost for each variable cost per unit listed, and the total variable cost when sales are 40 units. Then calculate the total variable cost when sales are 80 and 160 units, respectively Variable cost per unit Variable Cost at 40 Units Direct materials Direct labor Variable overhead $ 35 55 11 Sales commission 12 Total variable cost
Subject-Acounting
Urban Company reports the following information regarding its production cost: Units produced Direct labor Direct materials Variable overhead Fixed overhead Compute product cost per unit under variable costing. Multiple Choice O $24.00 $47.46 $54.00 26,000 units $ 19 per unit $ 24 per unit $ 11 per unit $ 116,000 in total $19.00
A standard cost card for one unit of a product may look like the following: Direct materials (4 pounds @ $1.25 per pound) $5.00 Direct labor (0.1 DLH @ $18 per hour) 1.80 Variable overhead (0.1 DLH @ $2.00 per hour) 0.20 Fixed overhead (0.1 DLH @ $4.60 per hour) 0.46 Total cost per unit $7.46 The standard cost to produce one unit is $7.46. The standard cost to produce 600 units are $ Of course, this is a simplification as the standard cost does not take fixed and variable costs into account. However, if the firm is producing at or near capacity, then the cost per unit of $7.46 could be multiplied by total units to get total standard cost. The standard cost card gives both unit and cost standards. The direct materials total of $5.00 is based on the use of four pounds of material at $1.25 per pound. Similarly, it should take six minutes (0.1 direct labor hour) to produce one unit. This makes it easy to determine total quantities and cost would be for multiple units. If 400 units were…
Average Cost per Unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense $6.55 $3.45 $1.45 $3.80 $1.40 $0.95 $1.35 $0.85 Sales commissions Variable administrative expense If 7,300 units are sold, the variable cost per unit sold is closest to:
Survivor Corporation produced 8,500 units and incurred the following cost: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Determine the following: 1. Total direct manufacturing cost = 2. Total indirect manufacturing cost = Cost per Unit P 5.00 P 3.20 P 1.30 P 1.10 P 0.30 Cost per Period P 127,500 P 38,250
Haresh