2.
B 300 | T 500 | Total | |
Product Margin | $ 360,850 | $ ( 58,940) | $ 301,910 |
Computations :
B 300 | T 500 | Total | |
Sales | $ 1,149,500 | $ 495,300 | $ 1,644,800 |
Cost of Goods Sold | |||
Direct Materials | 400,100 | 162,700 | 562,800 |
Direct Labor | 120,400 | 42,500 | 162,900 |
Machining | 126,280 | 86,940 | 213,220 |
Setup | 33,970 | 103,200 | 137,170 |
Product Sustaining | 50,900 | 50,900 | 101,800 |
Advertising | 57,000 | 108,000 | 165,000 |
Cost of Goods Sold | 788,650 | 554,240 | 1,342,890 |
Product Margin | $ 360,850 | $ ( 58,940) | $ 301,910 |
3.
B 300 | T 500 | Total | |||||
Amount | % of Total Amount | Amount | % of Total Amount | ||||
Traditional Cost System | |||||||
Direct Materials | $ 400,100 | 71 | % | $ 162,700 | 29 | % | $ 562,800 |
Direct Labor | 120,400 | 74 | % | 42,500 | 26 | % | 162,900 |
Manufacturing Overhead | 378,562 | 74 | % | 133,628 | 26 | % | 512,190 |
Total Cost Assigned to Products | 899,062 | 73 | % | 338,828 | 27 | % | 1,237,890 |
Selling and Administrative Expenses | 600,000 | ||||||
Total Cost | 1,837,890 | ||||||
Activity Based Costing System | |||||||
Direct Costs | |||||||
Direct Materials | $400,100 | 71 | % | $162,700 | 29 | % | $ 562,800 |
Direct Labor | 120,400 | 74 | % | 42,500 | 26 | % | 162,900 |
Total Direct Costs | 520,500 | 72 | % | 205,200 | 28 | % | 725,700 |
Indirect Costs | |||||||
Machining | 126,280 | 59 | % | 86,940 | 41 | % | 213,220 |
Setup | 33,970 | 25 | % | 103,200 | 75 | % | 137,170 |
Product Sustaining | 50,900 | 50 | % | 50,900 | 50 | % | 101,800 |
Advertising | 57,000 | 35 | % | 108,000 | 65 | % | 165,000 |
Total Costs Assigned To Products | 788,650 | 59 | % | 554,240 | 41 | % | 1,342,890 |
Costs not assigned to products | |||||||
Organization Sustaining Costs | 495,000 | ||||||
Total Cost | $1,837,890 |
Hi-Tek Manufacturing. Inc., makes two types of industrial component parts-the B300 and the T500. An absorption...
Hi-Tek Manufacturing, Inc., makes two types of Industrial component parts—the B300 and the T500. An absorption costing Income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross Margin Selling and administrative expenses Net operating loss $ 1,784, eee 1,249,503 454, 497 568,eee $ (185,583) Hi-Tek produced and sold 60.000 units of B300 at a price of $20 per unit and 12.600 units of T500 at a price of $40 per...
Hi-Tek Manufacturing, Inc., makes two types of Industrial component parts—the B300 and the T500. An absorption costing Income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross Margin Selling and administrative expenses Net operating loss $ 1,784, eee 1,249,503 454, 497 568,eee $ (185,583) Hi-Tek produced and sold 60.000 units of B300 at a price of $20 per unit and 12.600 units of T500 at a price of $40 per...
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown: $ Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss 1,763,400 1,219,880 543, 520 560,000 (16,480) $ Hi-Tek produced and sold 60,200 units of B300 at a price of $21 per unit and 12,800 units of T500 at a price of $39 per unit....
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts--the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,772,400 1, 248,128 524,272 610,000 $ (85,728) Hi-Tek produced and sold 60,400 units of B300 at a price of $21 per unit and 12,600 units of T500 at a price of $40 per unit....
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown: $ Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss 1,710,000 1,254,560 455,440 630,000 (174,560) $ Hi-Tek produced and sold 60,100 units of B300 at a price of $20 per unit and 12,700 units of T500 at a price of $40 per unit. The...
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,716,000 1,227,300 488,700 590,000 $ (101,300) Hi-Tek produced and sold 60,200 units of B300 at a price of $20 per unit and 12,800 units of T500 at a price of $40 per unit. The...
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown: $ Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss 1,639,000 1,213,070 425,930 600,000 (174,070) $ Hi-Tek produced and sold 60,400 units of B300 at a price of $19 per unit and 12,600 units of T500 at a price of $39 per unit. The...
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,710,000 1,228,926 481,074 640,000 $ (158,926) Hi-Tek produced and sold 60,100 units of B300 at a price of $20 per unit and 12,700 units of T500 at a price of $40 per unit. The...
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: $ Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss 1,697,400 1,214,028 483,372 600,000 (116,628) $ Hi-Tek produced and sold 60,300 units of B300 at a price of $20 per unit and 12,600 units of T500 at a price of $39 per unit. The...
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss $ 1,710,000 1, 207, 180 502,820 580,000 $ (77, 180) Hi-Tek produced and sold 60,300 units of B300 at a price of $20 per unit and 12,600 units of T500 at a price of $40...