Homework Answers
Direct materials is a variable costs that means Direct materials per unit will remain same irrespective of the number of units sold.
Dmaterials per unit= Direct materials/Sales in units
July= $59210/3100= $19.10
August= $64940/3400= $19.10
September= $68760/3600= $19.10
Cost equation for direct materials
Y= $19.10*X+$0
where, X= number of sales units
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Consider the following data for Magnimus Corporation Sales in units Sales revenue Direct materials Direct labour...
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour...
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,900 $ 429,000 77,610 89,895 61,980 25,350 44,720 36,550 August September 5,000 5,200 $ 550,000 $ 572,000 99,500 103,480 115,250 119,860 71,880 73,680 32,500 33,800 48,020 48,620 3 6,550 36,550 40 Required: Write the cost equation for administrative expenses. Y =
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour...
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Schuman Corporation produces microwave units. The following per-unit cost information is available: direct materials $37; direct...
Schuman Corporation produces microwave units. The following
per-unit cost information is available: direct materials $37;
direct labour $25; variable manufacturing overhead $17; fixed
manufacturing overhead $41; variable selling and administrative
expenses $12; and fixed selling and administrative expenses $29.
Its desired ROI per unit is $31.92. Calculate the markup percentage
using variable-cost pricing. (Round answer to 2 decimal
places, e.g. 15.25%.)
Markup percentage
%
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Draaksh Corporation sells premium quality wine for $100 per bottle. Its direct materials and direct labour costs are $19 and $11.00 respectively per bottle. It pays its direct labour employees a wage of $22 per hour. The company performed a regression analysis using the past 12 months' data and established the following monthly cost equation for manufacturing overhead costs using direct labour hours as the overhead allocation base: y = $153,200 $21.50x Draaksh believes that the above cost estimates will...
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crossed out requirements not needed PROBLEM 7-20B Integration of Sales, Production, and Direct Materials Budgets [LO2,...
crossed out requirements not needed
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Walston Manufacturing Company has provided the following data concerning its raw materials inventories last month: Beginning...
Walston Manufacturing Company has provided the following data concerning its raw materials inventories last month: Beginning raw materials inventory Purchases of raw materials Ending raw materials inventory 5 80,000 $420,000 $ 50,000 The cost of the raw materials used in production for the month was: Multiple Choice $500,000 $450,000 Multiple Choice $500,000 $450,000 $390,000 $470.000 Multiple Choice O work in process inventory has decreased during the period. finished goods inventory has increased during the period. total manufacturing costs must be...
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,900 $ 429,000 77,610 89,895 61,980 25,350 44,720 36,550 August September 5,000 5,200 $ 550,000 $ 572,000 99,500 103,480 115,250 119,860 71,880 73,680 32,500 33,800 48,020 48,620 3 6,550 36,550 40 Required: Write the cost equation for administrative expenses. Y =
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 4,500 $ 495,000 82,800 100,350 62,330 29,250 40,970 32,800 August 5,200 $572,000 95,680 115,960 67.230 33,800 43,070 32,800 September 5,800 $638,000 106.720 129,340 71,430 37.700 44,870 32,800 Required: Write the cost equation for manufacturing overhead. Y
Schuman Corporation produces microwave units. The following
per-unit cost information is available: direct materials $37;
direct labour $25; variable manufacturing overhead $17; fixed
manufacturing overhead $41; variable selling and administrative
expenses $12; and fixed selling and administrative expenses $29.
Its desired ROI per unit is $31.92. Calculate the markup percentage
using variable-cost pricing. (Round answer to 2 decimal
places, e.g. 15.25%.)
Markup percentage
%
adong Remanufacturing rebuilds spot welders for manufacturers.
The following budgeted cost data for 2020 are available...
Draaksh Corporation sells premium quality wine for $100 per bottle. Its direct materials and direct labour costs are $19 and $11.00 respectively per bottle. It pays its direct labour employees a wage of $22 per hour. The company performed a regression analysis using the past 12 months' data and established the following monthly cost equation for manufacturing overhead costs using direct labour hours as the overhead allocation base: y = $153,200 $21.50x Draaksh believes that the above cost estimates will...
Purchases of raw materials Maintenance, factory Direct labour Depreciation, factory equipment Indirect materials, factory Selling and administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment Advertising expenses Rent, factory building $ 187,000 42,700 36,300 62,600 3,950 48,200 29,800 19,400 4,950 23, 800 117,000 ? The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows: Raw materials Work in process Finished goods Beginning of Month $...
Budgeted income statement and supporting budgets for three months Newport Inc. gathered the following data for use in developing the budgets for the first quarter June, July, August) of its fiscal year: a. Estimated sales at $36 per unit: June July 300,000 units 400,000 units 500,000 units 500,000 units August September b. Estimated finished goods inventories: May 31 June 30 July 31 August 31 16,000 units 5 % of next month's sales 5% of next month's sales 5% of next...
crossed out requirements not needed
PROBLEM 7-20B Integration of Sales, Production, and Direct Materials Budgets [LO2, LO3, LO4] CHECK FIGURE (1) August collections: $71,838 (3b) August payments: $59,572 Swanson, Inc., manufactures an advanced swim fin for scuba divers. Management is now preparing detailed budgets for the third quarter, July through September, and has assembled the following information to assist in preparing the budget: a. The Marketing Department has estimated sales as follows for the remainder of the year (in pairs...
Walston Manufacturing Company has provided the following data concerning its raw materials inventories last month: Beginning raw materials inventory Purchases of raw materials Ending raw materials inventory 5 80,000 $420,000 $ 50,000 The cost of the raw materials used in production for the month was: Multiple Choice $500,000 $450,000 Multiple Choice $500,000 $450,000 $390,000 $470.000 Multiple Choice O work in process inventory has decreased during the period. finished goods inventory has increased during the period. total manufacturing costs must be...
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