West Co.'s manufacturing costs are as follows:Direct material and direct laborOther variable manufacturing costs$700,000$100,000Depreciation of factory building and manufacturing equipment $80,000Other fixed manufacturing overhead$18,000What amount should be considered product costs for external reporting purposes if the companyuses absorption costing?A. $700,000B. $800,000C. $880,000D. $898,000

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Answered: West Co.'s manufacturing costs are as…

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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Subject: Cost AccountingPlease answer the given questions. Thank you!
Bambina corporation, manufacturer of beauty products has the following partially completed manufacturing cost data for its manufacturing The relevant range of production is 800,000 to 1,200,000 per year What is the total cost per unit for the 800,000 units produced
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Assume a company is considering buying 10,000 units of a component part rather than making them. A supplier has agreed to sell the company 10,000 units for a price of $41.25 per unit. The company's accounting system reports the following costs of making the part: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead, traceable Fixed manufacturing overhead, allocated Total cost Per Unit $19 12 2 8 4 $45 10,000 Units per Year. $190,000 120,000 20,000 80,000 40,000 $450,000 One-half of the traceable fixed manufacturing overhead relates to supervisory salaries and the remainder relates to depreciation of equipment with no salvage value. If the company chooses to buy this component part from a supplier, then the supervisor who oversees its production would be discharged. What is the financial advantage (disadvantage) of buying 10,000 units from the supplier?
Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $ 6.30 $ 3.80 $ 1.50 $ 4.00 $ 3.30 $ 2.00 $ 1.00 $ 0.50 3. If 8,000 units are produced and sold, what is the variable cost per unit produced and sold? (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Variable cost per unit sold $ 12.50 X
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A company manufactures 1000units of outputs using 5000units of materials @ GHC30 each, and pays factory workers, indirect production expenses, and administrative expense of GHC100000, GHC50000, and GHC30000 respectively. If the company sold two-thirds of the goods produced, the total product cost as well as total expenses for the given period is O A. GHC300000 and GHC200000 respectively O B. GHC200000 and GHC30000 respectively OC. GHC230000 and GHC30000 respectively D. GHC300000 and GHC230000 respectively
! Required information [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $ 6.30 $ 3.80 $ 1.50 $ 4.00 $ 3.30 $ 2.00 Contribution margin per unit $ 1.00 $ 0.50 13. If the selling price is $22.30 per unit, what is the contribution margin per unit? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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