Direct materials | 15 | |
Direct labor | 36 | |
Variable manufacturing overhead | 44 | |
Fixed manufacturing overhead | 25 | =600000/24000 |
Unit Product cost | 120 | |
2 | ||
Sales revenue | 3900000 | =20000*195 |
Less: Cost of goods sold | 2400000 | =20000*120 |
Gross margin | 1500000 | |
Less: Selling and administrative expense | 860000 | |
Income before income tax | 640000 | |
Less: Income tax expense | 192000 | =640000*30% |
Net income | 448000 |
Required Information The following information applies to the questions displayed below) Mason Corporation began operations at...
Required information [The following information applies to the questions displayed below.] Mason Corporation began operations at the beginning of the current year. One of the company's products, a refrigeration element, sells for $185 per unit. Information related to the current year's activities follows. $ 15 36 44 Variable costs per unit: Direct material Direct labor Manufacturing overhead Annual fixed costs: Manufacturing overhead Selling and administrative Production and sales activity: Production (units) Sales (units) $600,000 860,000 24,000 20,000 Mason carries its...
Required information [The following information applies to the questions displayed below.] Mason Corporation began operations at the beginning of the current year. One of the company’s products, a refrigeration element, sells for $195 per unit. Information related to the current year’s activities follows. Variable costs per unit: Direct material- $15 Direct labor - 35 Manufacturing overhead- 46 Annual fixed costs: Manufacturing overhead- $600,000 Selling and administrative- 860,000 Production and sales activity: ...
Required information [The following information applies to the questions displayed below.] Mason Corporation began operations at the beginning of the current year. One of the company’s products, a refrigeration element, sells for $185 per unit. Information related to the current year’s activities follows. Variable costs per unit: Direct material $ 15 Direct labor 35 Manufacturing overhead 44 Annual fixed costs: Manufacturing overhead $ 600,000 Selling and administrative 860,000 Production and sales activity: Production (units) 24,000 Sales (units) 20,000 Mason carries...
please show work, thank you so much! Mason Corporation began operations at the beginning of the current year. One of the company's products, a refrigeration element, sells for $205 per unit. Information related to the current year's activities follows. 46 Variable costs per units Direct material Direct labor Manufacturing overhead Annual fixed costs: Manufacturing overhead Selling and administrative Production and sales activity! Production (units) Sales (units) $600,000 860,000 24,000 20,000 Mason carries its finished goods inventory at the average unit...
Mason Corporation began operations at the beginning of the current year. One of the company’s products, a refrigeration element, sells for $185 per unit. Information related to the current year’s activities follows. Variable costs per unit: Direct material $ 15 Direct labor 37 Manufacturing overhead 46 Annual fixed costs: Manufacturing overhead $ 600,000 Selling and administrative 860,000 Production and sales activity: Production (units) 24,000 Sales (units) 20,000 Mason carries its finished goods inventory at the average unit cost of production...
Problems Saved Problem 2-40 Financial Statement Elements; Cost Behavior (LO 2-5, 2-6, 2-8) [The following information applies to the questions displayed below.] Mason Corporation began operations at the beginning of the current year. One of the compan refrigeration element, sells for $185 per unit. Information related to the current year's activities Variable costs per unit: Direct material Direct labor Manufacturing overhead Annual fixed costs: Manufacturing overhead Selling and administrative Production and sales activity: Production (units) Sales (units) $600,000 860, eee...
Problem 2-40 Financial Statement Elements; Cost Behavior (LO 2-5, 2-6, 2-8) [The following information applies to the questions displayed below.] Mason Corporation began operations at the beginning of the current year. One of the company’s products, a refrigeration element, sells for $185 per unit. Information related to the current year’s activities follows. Variable costs per unit: Direct material $ 20 Direct labor 36 Manufacturing overhead 46 Annual fixed costs: Manufacturing overhead $ 600,000 Selling and administrative 860,000 Production and sales...
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 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs 320 per unit 115,000 units 118,500 units 3,500 units Variable (3,500 units x $135) Fixed (3,500 units × $70) Total $ 472,500 245,000 $ 717,500 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. 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...