Homework Answers
Question 1:
| a) Product costs per unit: | |
| Fixed manufacturing overhead per unit ($164,700/2,700 units) | $61 |
| Direct materials per unit | $180 |
| Manufacturing overhead per unit | $26 |
| Direct labor per unit | $110 |
| Product cost per unit | $377 |
| b) Period Costs: | |
| Fixed Marketing and administrative costs | $140,400 |
| Variable Marketing and administrative costs ($26 * 2,700 units) | $70,200 |
| Period Costs | $210,600 |
Note: As per HOMEWORKLIB RULES, the first question should be answered, hence, i have answered the first question, thus, please post the second question separately. Please do not give a negative rating for not answering all the questions as i have just followed HOMEWORKLIB RULES.
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Question 1:
Question 2:
Required information [The following information applies to the questions displayed below.) Madrid...
Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and...
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 35 per unit 225,000 190 per unit 20 per unit 30 per unit $ 185,000 $ 5,000 $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a...
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...
Required information [The following information applies to the questions displayed below) Cool Sky reports the following...
Required information [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $414,000 Selling and administrative costs Variable selling and...
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...
Required information The following information applies to the questions displayed below) Oak Mart, a producer of...
Required information The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business $ 310 per unit 110,000 units 114,000 units 4,000 units $ 520,000 200,00 $800,000 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (4,000 units * $130) Fixed (4,000 units X $70) Total Manufacturing costs this year Direct materials Direct...
Required information The following information applies to the questions displayed below) Oak Mart, a producer of...
Required information The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 319 per unit 110,000 units 113,250 units 3,250 units $ 455,000 260,000 715,000 $ Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $140) Fixed (3,250 units X $80) Total Manufacturing costs this year Direct materials Direct...
Required Information [The following information applies to the questions displayed below.) Madrid Corporation has compiled the...
Required Information [The following information applies to the questions displayed below.) Madrid Corporation has compiled the following information from the accounting system for the one product It sells. $ 738 per unit $ 105,600 $ 165,600 Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) $ $ $ 26 170 34 120 2,488 Required: a. Determine the...
Required information [The following information applies to the questions displayed below) Oak Mart, a producer of...
Required information [The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 6 330 per unit 100,000 units 103,500 units 3,500 units Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units * $140) Fixed (3, 500 units x $70) Total Manufacturing costs this year Direct materials Direct labor Overhead costs...
Required information [The following information applies to the questions displayed below Oak Mart, a producer of...
Required information [The following information applies to the questions displayed below Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $140) Fixed (3,250 units x $8e) $ 310 per unit 110,000 units 113,250 units 3,250 units $ 455,000 260,000 $ 715,000 Total Manufacturing costs this year Direct materials...
Required information [The following information applies to the questions displayed below.) Cool Sky reports the following...
Required information [The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $414,000 Selling and administrative costs Variable selling and...
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 35 per unit 225,000 190 per unit 20 per unit 30 per unit $ 185,000 $ 5,000 $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a...
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...
Required information [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $414,000 Selling and administrative costs Variable selling and...
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...
Required information The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business $ 310 per unit 110,000 units 114,000 units 4,000 units $ 520,000 200,00 $800,000 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (4,000 units * $130) Fixed (4,000 units X $70) Total Manufacturing costs this year Direct materials Direct...
Required information The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 319 per unit 110,000 units 113,250 units 3,250 units $ 455,000 260,000 715,000 $ Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $140) Fixed (3,250 units X $80) Total Manufacturing costs this year Direct materials Direct...
Required Information [The following information applies to the questions displayed below.) Madrid Corporation has compiled the following information from the accounting system for the one product It sells. $ 738 per unit $ 105,600 $ 165,600 Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) $ $ $ 26 170 34 120 2,488 Required: a. Determine the...
Required information [The following information applies to the questions displayed below) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 6 330 per unit 100,000 units 103,500 units 3,500 units Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units * $140) Fixed (3, 500 units x $70) Total Manufacturing costs this year Direct materials Direct labor Overhead costs...
Required information [The following information applies to the questions displayed below Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $140) Fixed (3,250 units x $8e) $ 310 per unit 110,000 units 113,250 units 3,250 units $ 455,000 260,000 $ 715,000 Total Manufacturing costs this year Direct materials...
Required information [The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $414,000 Selling and administrative costs Variable selling and...
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