1. Total manufacturing overhead cost (23720/30%*70%) | $55,347 |
2. Total direct material cost (23720/40%*60%) | $35,580 |
3. Total manufacturing cost ($35580+23720+55347) | $114,647 |
4. Total variable selling and administrative cost (198000*5%) | $9,900 |
5. Total variable cost (35580+23720+9900) | $69,200 |
6. Total fixed cost (55347 +29700 - 9900) | $75,147 |
7. Total contribution margin (198000 - 69200) | $128,800 |
1. | Total manufacturing overhead cost | selected answer correct | 55,440
2. | Total direct materials cost | selected answer correct | 35,640
3. | Total manufacturing cost | selected answer correct | 114,840
4. | Total variable selling and administrative cost | selected answer correct | 9,900
5. | Total variable cost | selected answer correct | 69,300
6. | Total fixed cost | selected answer correct | 75,240
7. | Total contribution margin | 128,700 |
Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30%...
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 $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 $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...
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please also explain how you came to answer.
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. Required 1....
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 $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%...
Bendel Incorporated has an operating leverage of 4.0. If the company's sales increase by 12%, its net operating income should increase by about: Multiple Choice 48.0% 3.0% 12.0% 34.4% Selling price Units in beginning inventory Units produced Units sold Units in ending inventory $93 0 3,600 3,020 580 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed osts: Fixed manufacturing overhead Fixed selling and administrative expense $ 19 $ 33 $ 5...