Your Corporation manufactures a gas operated barbecue grill. The following informationrelates to operations for last year:Unit product cost under absorption costing$46 per unitFixed manufacturing overhead cost for the year $300,000Fixed selling and administrative cost for the year $125,000Units (grills) produced and soldWhat is the variable costing unit product cost?25,000A. $29B. $34C. $58D. $63A company has sales of $100,000, ending finished goods inventory of $9,000, variablemanufacturing costs of $50,000, and fixed manufacturing costs of $28,000 for the year.Assuming the company uses direct costing, the manufacturing margin for the year is:(A) 22,000(B) 31,000(C) 59,000(D) 13,000

Consider,(1)25000 grills were produced and sold, cost is $46 per unit,Unit fixed manufacturing…

Answered: Your Corporation manufactures a gas…

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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Royal Lawncare Company produces and sells two packaged products- Weedban and Greengrow. Revenue and cost information relating to the products follow: Product Weedban Greengrow Selling price per unit $ 11.00 $ 37.00 Variable expenses per unit $ 2.70 $ 10.00 Traceable fixed expenses per year. $ 134,000 $ 31,000 Last year the company produced and sold 39, 500 units of Weedban and 15, 500 units of Greengrow. Its annual common fixed expenses are $98,000. Required: Prepare a contribution format income statement segmented by product lines.
Use the following information for the Exercise below. (Algo) Skip to question [The following information applies to the questions displayed below.]Barnes Company reports the following for its product for its first year of operations. Direct materials $ 34 per unit Direct labor $ 24 per unit Variable overhead $ 12 per unit Fixed overhead $ 54,000 per year Variable selling and administrative expenses $ 2 per unit Fixed selling and administrative expenses $ 26,000 per year Exercise 19-4 (Algo) Computing cost per unit at different production levels LO P1, P2 P1. Compute total product cost per unit using absorption costing for the following production levels: (a) 3,000 units, (b) 3,600 units, and (c) 4,500 units. P2. The company sells its product for $140 per unit. Compute contribution margin using variable costing assuming the company (a) produces and sells 3,000 units and (b) produces 3,600 units and sells 3,000 units.
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Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost Information relating to the products follow: Selling price per unit Variable expenses per unit Product Weedban $ 6.00 $ 2.40 $ 45,000 Greengrow $ 7.50 $ 5.25 $ 21,000 Traceable fixed expenses per year Last year the company produced and sold 15,000 units of Weedban and 28,000 units of Greengrow. Its annual common fixed expenses are $33,000. Required: Prepare a contribution format Income statement segmented by product lines. × Answer is not complete. Product Line Total Company Weedban Sales Variable expenses Contribution margin $ 300,000 $ 90,000 183,000 → 38,000 ✔ Greengrow $ 210,000 147,000 117,000 54,000 63,000 Traceable fixed expenses Gross margin 66,000 45,000 63,000 x x 51,000 $ 9,000 $ 0 33,000 Net operating income S 18,000
Required information [The following information applies to the questions displayed below.] Diego Company manufactures one product that is sold for $71 per unit in two geographic regions-East and West. The following information pertains to the company's first year of operations in which it produced 54,000 units and sold 49,000 units. Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expense $ 22 $ 12 $3 $5 The company sold 36,000 units in the East region and 13,000 units in the West region. It determined that $280,000 of its fixed selling and administrative expense is traceable to the West region, $230,000 is traceable to the East region, and the remaining $76,000 is a common fixed expense. The company will continue to incur the total amount of its fixed manufacturing overhead costs as long as it continues to produce…
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Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Weedban $9.00 $ 3.10 $ 133,000 Product Greengrow $34.00 $12.00 $ 36,000 Last year the company produced and sold 44,000 units of Weedban and 19,000 units of Greengrow. Its annual common fixed expenses are $97,000. Required: Prepare a contribution format income statement segmented by product lines. Total Company Product Line Weedban Greengrow
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et A company reports the following per unit cost information for this year: Direct materials, $3.90, Direct labor, $5.30, Variable overhead costs, $2.50, Variable selling and administrative costs, $2.90, Fixed costs are $67,000 per year. The company sold 6,700 units for $37 per unit For next year, the company will use a new material, which will reduce direct materials cost to $3.60 per unit. The company will also increase its selling price to $38 per unit, which will decrease unit sales volume to 6,200 units. Fixed costs per year, direct labor cost per unit, variable overhead costs per unit, and variable selling and administrative expenses per unit will not change. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the contribution margin per unit when using the new material, increasing the selling price, and decreasing unit sales. Note: Round "per unit answers" to 2 decimal places. Contribution margin per unit Sales price per unit Variable…

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