Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets forlast year.Selling price per unitVariable manufacturing costs per unitVariable selling and administrative expenses per unitFixed manufacturing overhead (in total)Fixed selling and administrative expenses (in total)Units produced during the yearUnits sold during year$170$60$6OA. $107,200OB. $334.000OC. $350,800OD. $238,000$35,000$9,0001,7001,400Using absorption costing, what is operating income for last year? (Round any intermediary calculations to the nearestwhole dollar)

Assigning each manufacturing cost to the product is referred to as absorption costing. Cost of the…

Answered: Using absorption costing, what is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixedCost EstimatedVariableCost(perunitsold) Production costs: Direct materials $22 Direct labor 14 Factory overhead $514,300 11 Selling expenses: Sales salaries and commissions 106,900 5 Advertising 36,200 Travel 8,000 Miscellaneous selling expense 8,800 4 Administrative expenses: Office and officers' salaries 104,500 Supplies 12,900 2…
Question Part Score If it holds the sales price constant and makes the suggested changes, how many units of product will Wildhorse have to sell to make the same operating Income before taxes as last year? Required sales units If Wildhorse wishes to maintain the same contribution margin ratio, what selling price per unit of product must it charge next year to cover the increased materials costs? (Round answer to 2 decimal places, e.g. 15.25) Selling price per unit $
Given the following information, find dollar sales: a. Fixed costs, $60,000; profit, $18,000; sales price per unit, $8.00; variable cost per unit, $5.00 b. Variable rate, .45; profit, $21,578.10; fixed costs, $58,382 c. Sales price per unit, $16.60; profit, $21,220; contribution margin, $9.29; fixed costs, $126,000
A) what is blossoms contribution margin per unit? B) what is blossoms monthly breakeven point? C) what is blossoms contribution margin ratio? What is blossoms monthly breakeven point in sales dollars?
If variable cost of goods sold totaled $101,100 for the year (16,850 units at $6 each) and the planned variable cost of goods sold totaled $109,680 (13,710 units at $8 each), the effect of the unit cost factor on the change in contribution margin is: a.$18,840 decrease b.$33,700 increase c.$33,700 decrease d.$18,840 increase
Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials — $19 Direct labor — 13 Factory overhead $105,800 10 Selling expenses: Sales salaries and commissions 22,000 4 Advertising 7,400 — Travel 1,700 — Miscellaneous selling expense 1,800 4 Administrative expenses: Office and officers' salaries 21,500 — Supplies 2,600…
Now suppose that annual unit sales, variable cost, and unit price are equal to their respective expected values—that is, there is no uncertainty. Determine the company's annual profit for this scenario. Round answer to a whole number, if needed.$
Assume that the organization uses the traditional full cost system, the cost per unit for the product for the coming year will be? (two decimal places, if any)
Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials — $28 Direct labor — 19 Factory overhead $495,200 14 Selling expenses: Sales salaries and commissions 102,900 6 Advertising 34,800 — Travel 7,700 — Miscellaneous selling expense 8,500 6 Administrative expenses: Office and officers' salaries 100,600 — Supplies 12,400…
Miniconjou Co. provides the following data for the most recently completed calendar year. Answer the following questions for the company based on the data below. DO NOT enter dollar signs or camas. Estimated total machine-hours 5,280 Estimated total fixed manufacturing overhead $33,000 Estimated variable manufacturing overhead per machine-hour $3.50 Actual total manufacturing overhead $47,800 Direct Materials used (all jobs) $17,160 Direct Labor cost (all jobs) $27,720 Actual machine hours (MHs) used (all jobs) 5,000 How much MOH will be applied to all Job? Round to whole dollars.
Contribution margin, break-even sales, cost-volume-profit chart, marginof safety, and operating leverageBelmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for theyear is therefore assumed to be equal to the cost of goods sold. With thisin mind, the various department heads were asked to submit estimatesof the costs for their departments during the year. A summary report ofthese estimates is as follows: (attached) It is expected that 12,000 units will be sold at a price of $240 a unit.Maximum sales within the relevant range are 18,000 units.Instructions 1. Prepare an estimated income statement for 20Y7.2. What is the expected contribution margin ratio?3. Determine the break-even sales in units and dollars. 4. Construct a cost-volume-profit chart indicating the break-evensales.5. What is the expected margin of safety in dollars and as apercentage of sales?6. Determine the operating leverage.

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Using absorption costing, what is operating income for last year? (Round any intermediary calculations to the near whole dollar)