[The following information applies to the questions displayed below.]
Morganton Company makes one product and it provided the following information to help prepare the master budget:
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated cost of goods sold and gross margin for July?
What is the estimated total selling and administrative expense for July?
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated net operating income for July?
1 | ||
Direct materials | 160000 | =16000*5*2 |
Direct labor | 416000 | =16000*2*13 |
Variable manufacturing overhead | 256000 | =16000*2*8 |
Estimated cost of goods sold | 832000 | |
Sales revenue | 1120000 | =16000*70 |
Less: Cost of goods sold | 832000 | |
Gross margin | 288000 | |
2 | ||
Estimated total selling and administrative expense | 93200 | =66000+(16000*1.7) |
3 | ||
Gross margin | 288000 | |
Less: Selling and administrative expense | 93200 | |
Estimated net operating income | 194800 |
[The following information applies to the questions displayed below.] Morganton Company makes one product and it...
[The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget: a) The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b) Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c) The ending...
Required Information The following information applies to the questions displayed below.) Morganton Company makes one product and it provided the following Information to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. C....
Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 9,400, 25,000, 27,000, and 28,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c....
Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,800, 19,000, 21,000, and 22,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished...
Required Information (The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% In the following month. C....
Required information The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,200. 12,000, 14,000, and 15,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c....
Required information The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. C....
Required Information [The following information applies to the questions displayed below.) Morganton Company makes one product and it provided the following Information to help prepare the master budget. a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% In the following month c....
Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,00 0, 32,000, and 33,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60 % in the following...
Required information The following information applies to the questions displayed below.) Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,00 0, 32,000, and 33,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month....