I keep doing the proper way to
find the full cost & profit margin, but it keeps saying they're
both wrong. Can someone please explain what is going on?
Homework Answers
| d. | Direct materials per unit | 31 |
| Direct labor per unit | 33 | |
| Variable manufacturing overhead per unit | 18 | |
| Fixed manufacturing overhead per unit ( 225000 / 5500 ) | 40.91 | |
| Fixed marketing and administrative costs per unit ( 200000 / 5500 ) | 36.36 | |
| Variable marketing and administrative cost per unit | 7 | |
| Full cost per unit | 166.27 | |
| e. | Sales price per unit | 195 |
| (-) Full cost per unit | 166.27 | |
| Profit margin per unit | 28.73 |
Add Answer to:
I keep doing the proper way to
find the full cost & profit margin, but it...
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...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.15 3.95 1.10 0.40 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $18,785 5,500 Dance Creations charges $33 for each skirt that it sells. During the first...
Intercontinental, Inc., provides you with the following data for its single product: $ 50.00 1,800,000 1,800,000...
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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...
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...
E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1,...
E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes. Prepare a contribution margin income statement for the company. 4. Calculate Sandy...
1. Compiete the following table Round your "Cost per Unit" answers to 2 decimal places.) Number...
1. Compiete the following table Round your "Cost per Unit" answers to 2 decimal places.) Number of Cannes Preduced and Sold Total costs Variable Co0sts S 74.88o0 d Ce 57.020 S232800 Total Costs Cost per Unit Variable Cost per Unt Fixsd Cost per Unit Total Cost oer Unit answer to 2 decimal places. e. 1234 should be entered as 12.34 %.) ) 2. Suppese Sandy Bank sells its canoes for S550 each Calculate the contribution margin per canoe and the...
Chilton, Inc. sold 12.900 units last year for $20 each. Variable costs per unit were $2.00...
Chilton, Inc. sold 12.900 units last year for $20 each. Variable costs per unit were $2.00 for direct materials, $2.10 for direct labor, and $3.20 for variable overhead. Fixed costs were $60,000 in manufacturing overhead and $40,300 in nonmanufacturing costs. a. What is the total contribution margin? (Round your intermediate calculations to 2 decimal places.) Total Contribution Margin b. What is the unit contribution margin? (Round your answer to 2 decimal places.) Unit Contribution Margin c. What is the contribution...
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...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.15 3.95 1.10 0.40 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $18,785 5,500 Dance Creations charges $33 for each skirt that it sells. During the first...
Intercontinental, Inc., provides you with the following data for its single product: $ 50.00 1,800,000 1,800,000 Sales price per unit Fixed costs (per month): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per month 7.00 12.00 10.00 5.00 300,000 units Required: Compute the amounts for each of the following assuming that both production levels are within the relevant range. (Do not round intermediate calculations. Round your...
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...
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...
E6-5 (Algo) Calculating Contribution Margin and Contribution Margin Ratio; Identifying Break-Even Point, Target Profit [LO 6-1, 6-2] Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $590 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes. Prepare a contribution margin income statement for the company. 4. Calculate Sandy...
1. Compiete the following table Round your "Cost per Unit" answers to 2 decimal places.) Number of Cannes Preduced and Sold Total costs Variable Co0sts S 74.88o0 d Ce 57.020 S232800 Total Costs Cost per Unit Variable Cost per Unt Fixsd Cost per Unit Total Cost oer Unit answer to 2 decimal places. e. 1234 should be entered as 12.34 %.) ) 2. Suppese Sandy Bank sells its canoes for S550 each Calculate the contribution margin per canoe and the...
Chilton, Inc. sold 12.900 units last year for $20 each. Variable costs per unit were $2.00 for direct materials, $2.10 for direct labor, and $3.20 for variable overhead. Fixed costs were $60,000 in manufacturing overhead and $40,300 in nonmanufacturing costs. a. What is the total contribution margin? (Round your intermediate calculations to 2 decimal places.) Total Contribution Margin b. What is the unit contribution margin? (Round your answer to 2 decimal places.) Unit Contribution Margin c. What is the contribution...
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