1) Unit product cost
Direct material | 50 |
Direct labor | 80 |
Variable manufacturing overhead | 20 |
Fixed manufacturing overhead (700000/20000) | 35 |
Unit product cost | 185 |
2) Income statement
Sales (19000*210) | 3990000 |
Cost of goods sold (19000*185) | 3515000 |
Gross profit♥ | 475000 |
Selling and administrative expense (19000*10+285000) | 475000 |
Net income | 0 |
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for...
Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $210. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 20,000 Units sold 19,000 Units in ending inventory 1,000 Variable costs per unit: Direct materials $ 50 Direct labor 80 Variable manufacturing overhead 20 Variable selling and administrative 10 Total variable cost per unit $ 160 Fixed costs: Fixed manufacturing overhead $ 700,000 Fixed selling and administrative 285,000 Total fixed...
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: 20,000 19,000 1,000 80 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 160 $ 700,000 285,000 $ 985,000 Required: 1. Assume...
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $200. Data for last year's operations follow: 10,400 9,500 900 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 64 Total variable cost per unit $ 136 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 312,000 520,000 Total fixed costs $ 832,000 Required:...
Chuck Wagon Grills, Inc, makes a single product-a handmade speciality barbecue grill that it sells for $210. Data for last year's operations follow 20.000 19.000 1.000 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costa per unit: Direet materials Direct labor Variable manufacturing Overhead Variable selling and administrative Total variable cost per 20 10 $ 160 $700,000 Tixed costa Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 285,000 $985,000 Required: 1. Assume that...
Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $215. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 9,800 Units sold 9,100 Units in ending inventory 700 Variable costs per unit: Direct materials $ 63 Direct labor 39 Variable manufacturing overhead 12 Variable selling and administrative 21 Total variable cost per unit $ 135 Fixed costs: Fixed manufacturing overhead $ 313,600 Fixed selling and administrative 520,000 Total fixed...
Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $215. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 10,400 Units sold 9,300 Units in ending inventory 1,100 Variable costs per unit: Direct materials $ 64 Direct labor 32 Variable manufacturing overhead 13 Variable selling and administrative 16 Total variable cost per unit $ 125 Fixed costs: Fixed manufacturing overhead $ 364,000 Fixed selling and administrative 525,000 Total fixed...
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $215. Data for last year's operations follow: 9,600 9, 100 500 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direet labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs! Fixed manutacturing overhead Fixed selling and administrative Total fixed costs 132 $336,000 525,000 $861,000 Required: 1. Assume that the...
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $200. Data for last year's operations follow: 10,400 9,400 1,000 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 63 40 14 134 $ 343,200 520,000 $ 863,200 Required:...
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: 20,000 19,eee 1,800 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 160 $ 700,000 285,000 $ 985,800 Required: 1. Assume that...
Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $200. Data for last year's operations follow: 9,800 9,400 400 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 61 37 13 21 $ 132 $ 294,000 510,000 $...