aq1
please also explain how you came to answer.
aq1 please also explain how you came to answer. Miller Company's total sales are $240,000. The...
Problem 1-22 Cost Terminology: Contribution Format Income Statement [LO1-2, LO1-4, LO1-6 Miller Company's total sales are $240,000. The company's direct labor cost is $28,800, which represents 30% of its total conversion cost and 40% of its total prime cost, its total selling and administrative expense is $36,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs....
Miller Company's total sales are $210,000. The company's direct labor cost is $25,200, which represents 30% of its total conversion cost and 40 %of its total prime cost. its total selling and administrative expense is $31,500 and its only variable selling and administrative expense is a sales commission of 5 %of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs.Required:1. What is the total manufacturing overhead cost?2. What is the total...
Miller Company's total sales are $153,000. The company's direct labor cost is $18,360, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $22,950 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total...
Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What...
Miller Company's total sales are $140,000. Total selling and administrative expenses are $18,000. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Cost Relationships: (1) The company's direct labor cost is $15,000, which represents 30% of its total conversion cost. (2) The $15,000 direct labor cost also represents 40% of total prime cost. (3) The only variable selling and administrative expense is sales commission which is 5% of total sales. Required: 1....
Accounting 203 Quiz #1 Name Miller Company's total sales are $140,000. Total selling and administrative expenses are $18,000. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Cost Relationships: (1) The company's direct labor cost is $15,000, which represents 30% of its total conversion cost. (2) The $15,000 direct labor cost also represents 40% of total prime cost. (3) The only variable selling and administrative expense is sales commission which is 5%...
Problem 1-22 Cost Terminology; Contribution Format Income Statement [LO1-2, LO1-4, LO1-6] Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending Inventories and its manufacturing overhead costs are entirely fixed costs...
Miller Company’s total sales are $204,000. The company’s direct labor cost is $24,480, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $30,600 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What...
hy can u please answer this question Problem 1-22 Cost Terminology; Contribution Format Income Statement (L01-2, LO1-4, LO1-6] Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its...
5 Prepare a contribution format income statement 2. Prepare a traditional format income statement 3. Calculate the selling price per unit 4. Calculate the variable cost per unit 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales 16 Complete this question by entering your answers in the tabs below R2 Resto...