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Homework Answers
The firm uses full manufacturing cost-based pricing with a
50%
markup.
therefore,
firms price = manufacturing cost per unit + 50% mark up
= $55 + 50%
= $82.5
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Check my work Required information [The following information applies to the questions displayed below.] 0.31 points...
Required information [The following information applies to the questions displayed below.] The market price for a...
Required information [The following information applies to the questions displayed below.] The market price for a product has been $64 per unit, but competitive pressures have reduced the market price to $60. The firm manufactures 15,500 of these products per year at a manufacturing cost of $46 per unit (including $25 fixed cost and $21 variable cost per unit). Other selling and administrative costs for the product are $1 per unit. The firm ignores competitive prices because it has a...
Check my work Required information The following information applies to the questions displayed below.) 0.31 points...
Check my work Required information The following information applies to the questions displayed below.) 0.31 points VIP-MD is a health maintenance organization (HMO) located in North Carolina. Unlike the traditional fee-for-service model that determines the payment according to the actual services used or costs incurred, VIP-MD receives a fixed, prepaid amount from subscribers. The per member, per month rate (PMPM) is determined by estimating the health care cost per enrollee within a geographic location. The average health care coverage in...
\ Check my work Required information The following information applies to the questions displayed below.) Part...
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Check my work Required information The following information applies to the questions displayed below.) Part 1 of 2 This year Burchard Company sold 29,000 units of its only product for $19.20 per unit. Manufacturing and selling the product required $114,000 of fixed manufacturing costs and $174,000 of fixed selling and administrative costs. Its per unit variable costs follow. points Skloped $3,40 2.10 Material Direct labor (paid on the basis of completed units) Variable overhead costs Variable selling and administrative...
Check my work Required information [The following information applies to the questions displayed below.) points Morning...
Check my work Required information [The following information applies to the questions displayed below.) points Morning Sky, Inc. (MSI), manufactures and sells computer games. The company has several product lines based on the age range of the target market. MSI sells both individual games as well as packaged sets. All games are in CD format, and some utilize accessories such as steering wheels, electronic tablets, and hand controls. To date, MSI has developed and manufactured all the CDs itself as...
3 Check my work Required Information (The following information applies to the questions displayed below.) Ramirez...
3 Check my work Required Information (The following information applies to the questions displayed below.) Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine's useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 32,500 units of product. Part 2 of 2 10 points Determine the machine's second-year depreciation using the units-of-production...
Check my work Required information The following information applies to the questions displayed below.] Martinez Company's...
Check my work Required information The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $6.10 $3.60 $1.40 $4.00 $3.10 $2.10 $1.10 $0.55 12. If 12,500 units are produced,...
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Check my work Required information The following information applies to the questions displayed below.) Part 1 of 5 128 Kitchen King's Toledo plant manufactures three product lines, all multi-burner, ceramic cook tops. The plant's three product models are the Regular (REG), the Advanced (ADV), and the Gourmet (GMT). Until recently, the plant used a job-order product-costing system, with manufacturing overhead applied on the basis of direct-labor hours. The following table displays the basic data upon which the traditional costing system...
Check my work Required information (The following information applies to the questions displayed below.) Martinez Company's...
Check my work Required information (The following information applies to the questions displayed below.) Martinez Company's relevant range of production is 7.500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $6.10 $3.60 $1.40 $4.00 $3.10 $2.10 $1.10 $0.55 5. If 8,000 units are produced...
Required information [The following information applies to the questions displayed below.] Part 1 of 2 Jorgansen...
Required information [The following information applies to the questions displayed below.] Part 1 of 2 Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: 1.66 points Year 1 Year 2 Year 3 Inventories Beginning (units) Ending (units) Variable costing net operating income 210 160 $290,000 160 180 $269,000 180 220 $250,000...
Required information [The following information applies to the questions displayed below.) Part 11 of 15 Cane...
Required information [The following information applies to the questions displayed below.) Part 11 of 15 Cane Company manufactures two products called Alpha and Beta that sell for $125 and $85, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 101,000 units of each product. Its average cost per unit for each product at this level of activity are given below: points Alpha $ 30 Beta $12...
Required information [The following information applies to the questions displayed below.] The market price for a product has been $64 per unit, but competitive pressures have reduced the market price to $60. The firm manufactures 15,500 of these products per year at a manufacturing cost of $46 per unit (including $25 fixed cost and $21 variable cost per unit). Other selling and administrative costs for the product are $1 per unit. The firm ignores competitive prices because it has a...
Check my work Required information The following information applies to the questions displayed below.) 0.31 points VIP-MD is a health maintenance organization (HMO) located in North Carolina. Unlike the traditional fee-for-service model that determines the payment according to the actual services used or costs incurred, VIP-MD receives a fixed, prepaid amount from subscribers. The per member, per month rate (PMPM) is determined by estimating the health care cost per enrollee within a geographic location. The average health care coverage in...
\
Check my work Required information The following information applies to the questions displayed below.) Part 1 of 2 This year Burchard Company sold 29,000 units of its only product for $19.20 per unit. Manufacturing and selling the product required $114,000 of fixed manufacturing costs and $174,000 of fixed selling and administrative costs. Its per unit variable costs follow. points Skloped $3,40 2.10 Material Direct labor (paid on the basis of completed units) Variable overhead costs Variable selling and administrative...
Check my work Required information [The following information applies to the questions displayed below.) points Morning Sky, Inc. (MSI), manufactures and sells computer games. The company has several product lines based on the age range of the target market. MSI sells both individual games as well as packaged sets. All games are in CD format, and some utilize accessories such as steering wheels, electronic tablets, and hand controls. To date, MSI has developed and manufactured all the CDs itself as...
3 Check my work Required Information (The following information applies to the questions displayed below.) Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $43,500. The machine's useful life is estimated at 10 years, or 385,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 32,500 units of product. Part 2 of 2 10 points Determine the machine's second-year depreciation using the units-of-production...
Check my work Required information The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $6.10 $3.60 $1.40 $4.00 $3.10 $2.10 $1.10 $0.55 12. If 12,500 units are produced,...
Check my work Required information The following information applies to the questions displayed below.) Part 1 of 5 128 Kitchen King's Toledo plant manufactures three product lines, all multi-burner, ceramic cook tops. The plant's three product models are the Regular (REG), the Advanced (ADV), and the Gourmet (GMT). Until recently, the plant used a job-order product-costing system, with manufacturing overhead applied on the basis of direct-labor hours. The following table displays the basic data upon which the traditional costing system...
Check my work Required information (The following information applies to the questions displayed below.) Martinez Company's relevant range of production is 7.500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $6.10 $3.60 $1.40 $4.00 $3.10 $2.10 $1.10 $0.55 5. If 8,000 units are produced...
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Required information [The following information applies to the questions displayed below.) Part 11 of 15 Cane Company manufactures two products called Alpha and Beta that sell for $125 and $85, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 101,000 units of each product. Its average cost per unit for each product at this level of activity are given below: points Alpha $ 30 Beta $12...
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