MANAGERIAL ACCT W/CONNECT >IC<
15th Edition
ISBN: 9781259405303
Author: Garrison
Publisher: MCG
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If variable manufacturing costs are $18 per unit and total fixed manufacturing costs are $542,700, what is the manufacturing cost per unit if:
a. 6,700 units are manufactured and the company uses the variable costing concept?$fill in the blank 1
b. 8,100 units are manufactured and the company uses the variable costing concept?$fill in the blank 2
c. 6,700 units are manufactured and the company uses the absorption costing concept?$fill in the blank 3
d. 8,100 units are manufactured and the company uses the absorption costing concept?$fill in the blank 4
roduct Cost Method of Product Costing
MyPhone, Inc., uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 5,160 units of cell phones are as follows:
Variable costs:
Fixed costs:
Direct materials
$90
per unit
Factory overhead
$199,200
Direct labor
31
Selling and admin. exp.
70,300
Factory overhead
23
Selling and admin. exp.
22
Total variable cost per unit
$166
per unit
MyPhone desires a profit equal to a 13% rate of return on invested assets of $600,800.
a. Determine the amount of desired profit from the production and sale of 5,160 units of cell phones.$fill in the blank 1
b. Determine the product cost per unit for the production of 5,160 of cell phones. If required, round your answer to nearest dollar.$fill in the blank 2 per unit
c. Determine the product cost markup percentage (rounded to two decimal places) for cell phones.fill in the blank 3 %
d.…
Please do not give solution in image format thanku
Chapter 3 Solutions
MANAGERIAL ACCT W/CONNECT >IC<
Ch. 3.A - Prob. 1ECh. 3.A - Prob. 2ECh. 3.A - Prob. 3ECh. 3.A - PROBLEM 3A-4 Activity-Based Absorption Costing as...Ch. 3.A - Prob. 5PCh. 3.A - CASE 3A-6 Activity-Based Absorption Costing and...Ch. 3.B - Prob. 1ECh. 3.B - Prob. 2ECh. 3.B - Prob. 3PCh. 3.B - Prob. 4C
Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - Prob. 3QCh. 3 - Prob. 4QCh. 3 - Prob. 5QCh. 3 - Prob. 6QCh. 3 - Prob. 7QCh. 3 - Prob. 8QCh. 3 - 3-9 What is underapplied overhead? Overapplied...Ch. 3 - Prob. 10QCh. 3 - Prob. 11QCh. 3 - Prob. 12QCh. 3 - Prob. 13QCh. 3 - This Excel worksheet relates to the Dickson...Ch. 3 - This Excel worksheet relates to the Dickson...Ch. 3 - Prob. 3AECh. 3 - This Excel worksheet relates to the Dickson...Ch. 3 - Prob. 1F15Ch. 3 - Prob. 2F15Ch. 3 - Prob. 3F15Ch. 3 - Prob. 4F15Ch. 3 - Prob. 5F15Ch. 3 - Prob. 6F15Ch. 3 - Prob. 7F15Ch. 3 - Prob. 8F15Ch. 3 - Prob. 9F15Ch. 3 - Prob. 10F15Ch. 3 - Prob. 11F15Ch. 3 - Prob. 12F15Ch. 3 - Prob. 13F15Ch. 3 - Prob. 14F15Ch. 3 - Prob. 15F15Ch. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - EXERCISE 24 Computing Total Job Costs and Unit...Ch. 3 - EXERCISE 2-5 Computing Total Job Costs and Unit...Ch. 3 - Prob. 6ECh. 3 - EXERCISE 2-7 Job-Order Costing; Working Backwards...Ch. 3 - Prob. 8ECh. 3 - EXERCISE 3-9 Journal Entries and T-accounts...Ch. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Prob. 13ECh. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Prob. 16ECh. 3 - Prob. 17ECh. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - EXERCISE 2—13 Departmental Predetermined Overhead...Ch. 3 - EXERCISE 214 Job-Orders Costing for a Service...Ch. 3 - Prob. 22PCh. 3 - PROBLEM 2—16 Plantwide Predetermined Overhead...Ch. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - PROBLEM 2-21 Plant wide Versus Multiple...Ch. 3 - CASE 2-22 Plantwide versus Departmental Overhead...Ch. 3 - Prob. 30C
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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
- 12 Lavender Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 1,500 units and of Product B is 3,000 units. There are three activity cost pools, with estimated total cost and expected activity as follows: Expected Activity Activity Cost Pool Estimated Cost Product A Product B Total Activity 1 $10,000 420 350 770 Activity 2 12,000 120 420 540 Activity 3 50,000 490 1,162 1,652 The cost per unit of Product B under activity-based costing is closest to which of the following? Select one: a. $16.35 b. $35.38 c. $24.10 d. $31.90arrow_forwardProblem 3. Abraham Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 200 units and of Product B is 1,000 units. There are three activity cost pools, with total costs and activity as follows: 000 à 000 Activity Cost Pool Activity 1 Activity 2 Activity 3 Total Cost $10,485 $35,264 $26,395 Product A 300 1,600 60 Total Activity Product B 200 300 400 Total 500 1,900 460 a) What is the total overhead cost allocated to Product B under activity-based costing? b) What is the overhead cost per unit of Product B under activity-based costing?arrow_forward1arrow_forward
- Book Hint Ask Print erences IC raw ill L lon Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material. Kin uses 3.2 pounds of the material, Ike uses 3.2 pounds of the material, and Bix uses 5.5 pounds of the material. Selling price per unit and variable costs per unit of each product follow. ! A Selling price per unit Variable costs per unit (a) Compute contribution margin per pound of material for each product. (b) If demand is limited, list the three products in the order in which management should produce and meet demand. Contribution margin per pound Z dª ² Order in which management should produce and meet demand: F1 @@ 2 W S X command * F2 # 3 Kin $143.96 95.00 E D 8.0 F3 C MAR 29 $ Ike $ 120.24 94.00 4 Product Contribution Margin R a F4 F % Bix $ 204.50 144.00 5 V 9 S * 8 J DII F8 Bix ill M ( 9 K F9 O J O X A F10 L a P 4 command F11 J + optiearrow_forwardWrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units of Simple and 146,100 of Removable, and the overhead for each of its cost pools is as follows: It has also estimated the activities for each cost driver as follows: Â How much is the overhead allocated to each unit of Simple and Removable?arrow_forwardProduct cost method of product costing Smart Stream Inc. uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 cell phones are as follows: Smart Stream desires a profit equal to a 30% return on invested assets of 1,200,000. A. Determine the amount of desired profit from the production and sale of 10,000 cell phones. B. Determine the product cost per unit for the production of 10,000 cell phones. C. Determine the product cost markup percentage for cell phones. D. Determine the selling price of cell phones.arrow_forward
- How to solve this problem?arrow_forwardsarrow_forwardTotal Cost Concept of Product Pricing Smart Stream Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,500 units of cellular phones are as follows: Variable costs: Fixed costs: Direct materials $ 73 per unit Factory overhead $314,500 Direct labor 34 Selling and admin. exp. 110,500 Factory overhead 22 Selling and admin. exp. 17 Total $146 per unit Smart Stream wants a profit equal to a 15% rate of return on invested assets of $932,960. a. Determine the total costs and the total cost amount per unit for the production and sale of 8,500 units of cellular phones. Round the cost per unit to two decimal places. Total costs Cost amount per unit b. Determine the total cost markup percentage (rounded to two decimal places) for cellular phones. % c. Determine the selling price of cellular phones.…arrow_forward
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