Vermont Instruments manufactures two models of calculators. The finance model is the Fin-X and the scientific model is the Sci-X. Both models are assembled in teh same plant and require the same assembling operations. The difference between the models is in the cost of the parts

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Vermont Instruments manufactures two models of calculators. The finance model is the Fin-X and the scientific model is the Sci-X. Both models are assembled in teh same plant and require the same assembling operations. The difference between the models is in the cost of the parts. 

Vermont Instruments manufactures two models of calculators. The finance model is the Fin-X and the scientific model is the Sci-X. Both
models are assembled in the same plant and require the same assembling operations. The difference between the models is in the
cost of the parts. The following data are available for June:
Total
56,000
Fin-X
Sci-X
13,000
$17
Number of units
43,000
$29
Parts cost per unit
Other costs:
Direct labor
Indirect materials
$ 59,500
18,100
90,400
Overhead
Total
$168,000
Required:
Vermont Instruments uses operations costing and assigns conversion costs based on the number of units assembled. Compute the
cost per unit of the Fin-X and Sci-X models for June.
Fin-X
Sci-X
Total
Operation cost
Materials cost
Total cost
Number of units
Unit cost
Transcribed Image Text:Vermont Instruments manufactures two models of calculators. The finance model is the Fin-X and the scientific model is the Sci-X. Both models are assembled in the same plant and require the same assembling operations. The difference between the models is in the cost of the parts. The following data are available for June: Total 56,000 Fin-X Sci-X 13,000 $17 Number of units 43,000 $29 Parts cost per unit Other costs: Direct labor Indirect materials $ 59,500 18,100 90,400 Overhead Total $168,000 Required: Vermont Instruments uses operations costing and assigns conversion costs based on the number of units assembled. Compute the cost per unit of the Fin-X and Sci-X models for June. Fin-X Sci-X Total Operation cost Materials cost Total cost Number of units Unit cost
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Relevant cost analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education