Homework Answers
| (a) | |
| Direct labor ( 5000 * 27.50 ) | 137500 |
| Direct materials ( 5000 * 84.75 ) | 423750 |
| Variable Manufacturing overhead ( 5000 * 14.25 ) | 71250 |
| Variable Marketing costs ( 5000 * 5.30 ) | 26500 |
| Variable Administrative costs ( 5000 * 2.90 ) | 14500 |
| Total variable cost | 673500 |
| (b) | |
| Direct labor ( 5000 * 27.50 ) | 137500 |
| Direct materials ( 5000 * 84.75 ) | 423750 |
| Variable Manufacturing overhead ( 5000 * 14.25 ) | 71250 |
| Variable inventoriable cost | 632500 |
| .(c) | |
| Direct labor ( 5000 * 27.50 ) | 137500 |
| Direct materials ( 5000 * 84.75 ) | 423750 |
| Variable Manufacturing overhead ( 5000 * 14.25 ) | 71250 |
| Fixed manufacturing overhead | 120000 |
| Full absorption cost | 752500 |
| (d) | |
| Direct labor ( 5000 * 27.50 ) | 137500 |
| Direct materials ( 5000 * 84.75 ) | 423750 |
| Variable Manufacturing overhead ( 5000 * 14.25 ) | 71250 |
| Fixed manufacturing overhead | 120000 |
| Variable Marketing costs ( 5000 * 5.30 ) | 26500 |
| Fixed marketing cost | 50000 |
| Variable Administrative costs ( 5000 * 2.90 ) | 14500 |
| Fixed administrative cost | 75000 |
| Full cost | 918500 |
| .(e) | |
| Sales ( 5000 * 210.00 ) | 1050000 |
| (-) Total variable cost | 673500 |
| Contribution margin | 376500 |
| (f) | |
| Sales ( 5000 * 210.00 ) | 1050000 |
| (-) Full absorption cost | 752500 |
| Gross margin | 297500 |
| (g) | |
| Sales ( 5000 * 210.00 ) | 1050000 |
| (-) Full cost | 918500 |
| Profit margin | 131500 |
Add Answer to:
114. The cost accountant for the Corner Manufacturing Company has provided you with the following information...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A Direct...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs $ 36 per unit 235.000 200 per unit 18 per unit 34 per unit $ 200,000 5,000 7 per unit Required: a. Determine the variable cost per unit. Variable cost per unit b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials...
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
39
per unit
Fixed manufacturing overhead costs
$
230,000
Sales price
$
195
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
35
per unit
Fixed marketing and administrative costs
$
200,000
Units produced and sold
5,500
Variable marketing and administrative costs
$
8
per unit
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs is as es as es as 37 per unit 200,000 205 per unit 19 per unit 33 per unit $ 190,000 5,000 $ 8 per unit Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations Direct materials...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations Direct materials Fixed manufacturing overhead costs Sales prioe Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 38 per unit S 200,000 200 per unit 22 per unit 26 per unit S 200,000 S 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement.
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials...
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
36
per unit
Fixed manufacturing overhead costs
$
200,000
Sales price
$
200
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
32
per unit
Fixed marketing and administrative costs
$
185,000
Units produced and sold
$
5,500
Variable marketing and administrative costs
$
7
per unit
Required:
a. Prepare a gross margin income statement.
b. Prepare a contribution margin...
Jones Manufacturing's cost accountant has provided you with the following information for January operations: Direct materials...
Jones Manufacturing's cost accountant has provided you with the following information for January operations: Direct materials $ 33 per unit Fixed manufacturing overhead costs $ 217,000 Sales price $ 200 per unit Variable manufacturing overhead $ 19 per unit Direct labor $ 32 per unit Fixed marketing and administrative costs $ 205,000 Units produced and sold 5,100 Variable marketing and administrative costs $ 9 per unit Required: (a) Prepare a gross margin income statement. (Input all amounts as positive values....
0.13 Europe Manufacturing's cost accountant has provided you with the following information for January operation Direct...
0.13 Europe Manufacturing's cost accountant has provided you with the following information for January operation Direct materials AED 20 per unit Fixed manufacturing overhead costs 130,000 Sales price AED 75 per unit Variable manufacturing overhead AED 10 per unit Direct labor AED 23 per unit Fixed marketing costs 55,000 Fixed administrative costs 50.000 Units produced and sold Use the last 5 digits of your ICT ID Variable marketing costs AED 3 permit Variable administrative costs AED 2 per unit Prsuwe...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials 35 per unit $ 205,000 24 Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor 200 per unit 21 per unit 26 per unit $ 200,000 5,500 Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 9 per unit 2$ Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this...
Which of the following is true of absorption costing? It expenses marketing costs as cost of...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs $ 36 per unit 235.000 200 per unit 18 per unit 34 per unit $ 200,000 5,000 7 per unit Required: a. Determine the variable cost per unit. Variable cost per unit b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
39
per unit
Fixed manufacturing overhead costs
$
230,000
Sales price
$
195
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
35
per unit
Fixed marketing and administrative costs
$
200,000
Units produced and sold
5,500
Variable marketing and administrative costs
$
8
per unit
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs is as es as es as 37 per unit 200,000 205 per unit 19 per unit 33 per unit $ 190,000 5,000 $ 8 per unit Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations Direct materials Fixed manufacturing overhead costs Sales prioe Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 38 per unit S 200,000 200 per unit 22 per unit 26 per unit S 200,000 S 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement.
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
36
per unit
Fixed manufacturing overhead costs
$
200,000
Sales price
$
200
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
32
per unit
Fixed marketing and administrative costs
$
185,000
Units produced and sold
$
5,500
Variable marketing and administrative costs
$
7
per unit
Required:
a. Prepare a gross margin income statement.
b. Prepare a contribution margin...
0.13 Europe Manufacturing's cost accountant has provided you with the following information for January operation Direct materials AED 20 per unit Fixed manufacturing overhead costs 130,000 Sales price AED 75 per unit Variable manufacturing overhead AED 10 per unit Direct labor AED 23 per unit Fixed marketing costs 55,000 Fixed administrative costs 50.000 Units produced and sold Use the last 5 digits of your ICT ID Variable marketing costs AED 3 permit Variable administrative costs AED 2 per unit Prsuwe...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials 35 per unit $ 205,000 24 Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor 200 per unit 21 per unit 26 per unit $ 200,000 5,500 Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 9 per unit 2$ Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
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