Homework Answers
| Answer: | |
| a)Gross Margin Income Statement | |
| Amount($) | |
| Sales revenue(5500*200) | $1,100,000 |
| Fixed manufacturing overhead costs | $ 205,000 |
| Variable manufacturing costs(35+21+26)*5500 | $ 451,000 |
| Gross margin | $ 444,000 |
| Fixed marketing and administrative costs | $ 200,000 |
| Variable marketing and administrative costs(9*5500) | $ 49,500 |
| Operating profit | $ 194,500 |
| b | |
| Contribution Margin Income Statement | |
| Amount($) | |
| Sales revenue(5500*200) | $1,100,000 |
| Variable manufacturing costs(35+21+26)*5500 | $ 451,000 |
| Variable marketing and administrative costs(9*5500) | $ 49,500 |
| Contribution margin | $ 599,500 |
| Fixed manufacturing overhead costs | $ 205,000 |
| Fixed marketing and administrative costs | $ 200,000 |
| Operating profit | $ 194,500 |
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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...
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...
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 Fixed manufacturing overhead costs Sales prioe Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 38 per unit S 200,000 200 per unit 22 per unit 26 per unit S 200,000 S 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement.
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
$
39
per unit
Fixed manufacturing overhead costs
$
230,000
Sales price
$
195
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
35
per unit
Fixed marketing and administrative costs
$
200,000
Units produced and sold
5,500
Variable marketing and administrative costs
$
8
per unit
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost...
Jones Manufacturing's cost accountant has provided you with the following information for January operations: Direct materials...
Jones Manufacturing's cost accountant has provided you with the following information for January operations: Direct materials $ 33 per unit Fixed manufacturing overhead costs $ 217,000 Sales price $ 200 per unit Variable manufacturing overhead $ 19 per unit Direct labor $ 32 per unit Fixed marketing and administrative costs $ 205,000 Units produced and sold 5,100 Variable marketing and administrative costs $ 9 per unit Required: (a) Prepare a gross margin income statement. (Input all amounts as positive values....
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 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 is as es as es as 37 per unit 200,000 205 per unit 19 per unit 33 per unit $ 190,000 5,000 $ 8 per unit Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A Direct...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A 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 $ 36 per unit 235.000 200 per unit 18 per unit 34 per unit $ 200,000 5,000 7 per unit Required: a. Determine the variable cost per unit. Variable cost per unit b. Determine the variable manufacturing cost...
0.13 Europe Manufacturing's cost accountant has provided you with the following information for January operation Direct...
0.13 Europe Manufacturing's cost accountant has provided you with the following information for January operation Direct materials AED 20 per unit Fixed manufacturing overhead costs 130,000 Sales price AED 75 per unit Variable manufacturing overhead AED 10 per unit Direct labor AED 23 per unit Fixed marketing costs 55,000 Fixed administrative costs 50.000 Units produced and sold Use the last 5 digits of your ICT ID Variable marketing costs AED 3 permit Variable administrative costs AED 2 per unit Prsuwe...
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 215,000 205 per unit 19 per unit 34 per unit $ 205,000 $ 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 gross...
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...
Question 1: Question 2: Required information [The following information applies to the questions displayed below.) Madrid...
Question 1:
Question 2:
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. $ 630 per unit $ 140,400 $ 164,700 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 $ 180 $ 26 110 2,700...
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...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations Direct materials Fixed manufacturing overhead costs Sales prioe Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative costs 38 per unit S 200,000 200 per unit 22 per unit 26 per unit S 200,000 S 5,000 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement.
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
39
per unit
Fixed manufacturing overhead costs
$
230,000
Sales price
$
195
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
35
per unit
Fixed marketing and administrative costs
$
200,000
Units produced and sold
5,500
Variable marketing and administrative costs
$
8
per unit
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. 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 is as es as es as 37 per unit 200,000 205 per unit 19 per unit 33 per unit $ 190,000 5,000 $ 8 per unit Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A 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 $ 36 per unit 235.000 200 per unit 18 per unit 34 per unit $ 200,000 5,000 7 per unit Required: a. Determine the variable cost per unit. Variable cost per unit b. Determine the variable manufacturing cost...
0.13 Europe Manufacturing's cost accountant has provided you with the following information for January operation Direct materials AED 20 per unit Fixed manufacturing overhead costs 130,000 Sales price AED 75 per unit Variable manufacturing overhead AED 10 per unit Direct labor AED 23 per unit Fixed marketing costs 55,000 Fixed administrative costs 50.000 Units produced and sold Use the last 5 digits of your ICT ID Variable marketing costs AED 3 permit Variable administrative costs AED 2 per unit Prsuwe...
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 215,000 205 per unit 19 per unit 34 per unit $ 205,000 $ 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 gross...
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...
Question 1:
Question 2:
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. $ 630 per unit $ 140,400 $ 164,700 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 $ 180 $ 26 110 2,700...
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