Homework Answers
| Selling price per unit | $ 8.20 |
| Less: Variable cost per unit ($1.84+$4.45) | 6.29 |
| Contribution margin per unit | $ 1.91 |
| Multiply: Units sold during year | 190,000 |
| Contribution margin for last year | $ 362,900 |
Answer: A. $362,900
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The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and...
The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and...
The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses in total) Units produced during the year Units sold during year $8.10 $1.86 $4.95 $77,000 $85,000 520,000 170,000 Using variable costing, what is the contribution margin for last year? O...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last...
Duard Games, Inc, makes board games. The following data pertains to the last six months: Month...
Duard Games, Inc, makes board games. The following data pertains to the last six months: Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Direct Labor Hours 45,000 68,000 57.000 52,000 34,000 25,000 Manufacturing Overhead $295,000 $313,000 $323,000 $247,250 $178,200 $161,500 Based on this data, what would the estimated manufacturing overhead be at a level of 48,000 direct labor hours? (Round intermediary calculations to the nearest cent.) O A. $242,600 OB. $164,940 O c. $329,960 OD. Cannot...
MSU manufactures widgets. The following data is related to sales and production of the widgets for...
MSU manufactures widgets. The following data is related to
sales and production of the widgets for last year.
Using absorption costing, what is operating income for last
year?
a. $ 39,300
b. $ 66,300
c. $219,700
d. $143,000
Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $ 130.00 $ 6200 $5.00...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $170 $60 $10 $32,000 $5,000 2,000 1,400 Using variable costing, what is the contribution margin for last year? OA. $140,000 OB. $84,000 O...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $170 $62 $9 $30,000 $9,000 1,600 1,000 Using absorption costing, what is operating income for last year? (Round any intermediary calculations to the...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit $160 Variable manufacturing costs per unit $60 Variable selling and administrative expenses per unit $7 Fixed manufacturing overhead (in total) $31,000 Fixed selling and administrative expenses (in total) $5,000 Units produced during the year 1,500 Units sold during year 1,100 Using absorption costing, what is gross profit for last month? (Round any intermediary calculations to the...
4) Bilingsly Limited, a manufacturer of a variety of products, uses an activity-based costing system. Information...
4) Bilingsly Limited, a manufacturer of a variety of products, uses an activity-based costing system. Information from its systern for the year for all products follows: C Activity cost pool Assembly Inspection Packaging Total costTotal activity S584.2005 $341,700 $24,480 23,000 machine-hours 8,500 inspection-hours 1,600 | Orders Bilingsly Limited makes 450 of its product B63 per customer orders, which requires a total of 53 machine hours, 13 inspection hours, and 19 orders. Product B63 requires $45.70 in direct materials per unit...
1. The following data is related to sales and production of the Tarkio Corporation for last...
1. The following data is related to sales and production of the Tarkio Corporation for last year. Selling price per unit $60.00 Variable manufacturing cost per unit $25.00 Variable selling and administrative expense per unit $6.00 Fixed manufacturing overhead (in total) $50,000 Fixed selling and administrative expenses (in total) $8,000 Units produced during year 10,000 Units sold during year 8,000 Units in beginning inventory 0 Units in ending inventory 2,000 a. How much is Tarkio’s Gross Margin for last year?...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $30 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Assembly Department Sanding Department Actual results Direct labor hours used Machine hours used 10 o The...
The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses in total) Units produced during the year Units sold during year $8.10 $1.86 $4.95 $77,000 $85,000 520,000 170,000 Using variable costing, what is the contribution margin for last year? O...
5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last...
Duard Games, Inc, makes board games. The following data pertains to the last six months: Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Direct Labor Hours 45,000 68,000 57.000 52,000 34,000 25,000 Manufacturing Overhead $295,000 $313,000 $323,000 $247,250 $178,200 $161,500 Based on this data, what would the estimated manufacturing overhead be at a level of 48,000 direct labor hours? (Round intermediary calculations to the nearest cent.) O A. $242,600 OB. $164,940 O c. $329,960 OD. Cannot...
MSU manufactures widgets. The following data is related to
sales and production of the widgets for last year.
Using absorption costing, what is operating income for last
year?
a. $ 39,300
b. $ 66,300
c. $219,700
d. $143,000
Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $ 130.00 $ 6200 $5.00...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $170 $60 $10 $32,000 $5,000 2,000 1,400 Using variable costing, what is the contribution margin for last year? OA. $140,000 OB. $84,000 O...
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $170 $62 $9 $30,000 $9,000 1,600 1,000 Using absorption costing, what is operating income for last year? (Round any intermediary calculations to the...
4) Bilingsly Limited, a manufacturer of a variety of products, uses an activity-based costing system. Information from its systern for the year for all products follows: C Activity cost pool Assembly Inspection Packaging Total costTotal activity S584.2005 $341,700 $24,480 23,000 machine-hours 8,500 inspection-hours 1,600 | Orders Bilingsly Limited makes 450 of its product B63 per customer orders, which requires a total of 53 machine hours, 13 inspection hours, and 19 orders. Product B63 requires $45.70 in direct materials per unit...
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $30 per direct labor hour. Job 542 used the following direct labor hours and machine hours in the two departments: Assembly Department Sanding Department Actual results Direct labor hours used Machine hours used 10 o The...
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