Homework Answers
Answer to Question 1:
Cost per unit = Direct materials + Direct labor + Variable
manufacturing overhead + Fixed manufacturing overhead
Cost per unit = $46 + $24 + $4 + $68,000/3,400
Cost per unit = $94
Sales = Selling price per unit * Units sold
Sales = $136 * 2,920
Sales = $397,120
Cost of goods sold = Cost per unit * Units sold
Cost of goods sold = $94 * 2,920
Cost of goods sold = $274,480
Gross margin = Sales - Cost of goods sold
Gross margin = $397,120 - $274,480
Gross margin = $122,640
Answer to Question 2:
Period cost = Variable selling and administrative expense per
unit * Units sold + Fixed selling and administrative expense
Period cost = $9 * 920 + $17,480
Period cost = $25,760
Answer to Question 3:
Variable cost per unit = Direct materials + Direct labor +
Variable manufacturing overhead + Variable selling and
administrative expense
Variable cost per unit = $33 + $75 + $21 + $25
Variable cost per unit = $154
Contribution margin per unit = Selling price per unit - Variable
cost per unit
Contribution margin per unit = $172 - $154
Contribution margin per unit = $18
Fixed expenses = Fixed manufacturing overhead + Fixed selling
and administrative expense
Fixed expenses = $145,500 + $10,300
Fixed expenses = $155,800
Net operating income = Contribution margin per unit * Units sold
- Fixed expenses
Net operating income = $18 * 9,300 - $155,800
Net operating income = $11,600
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Gabuat Corporation, which has only one product, has provided the following data concerning its most recent...
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