For Goody Company, the budgeted cost for one unit of product is direct materials $10, direct...
For Goody Company, the budgeted cost for one unit of product is direct materials $10, direct labor $20, and manufacturing overhead 80% of direct labor cost. If 25,000 units are expected to be sold at $65 each, what is the budgeted gross profit?
Budgeted gross profit per unit $
Gross profit per unit $
Total budgeted gross profit $
Homework Answers
Answer
--All working forms part of the answer
| Budgeted sales | 25000 units x $ 65 | $1,625,000 | |
| Less: Budgeted cost of Goods Sold | [25000 units x ($10 + $ 20 + $ 16 overhead)] | $1,150,000 | |
| Total Budgeted Gross Profits | $475,000 | Answer | |
| Gross Profit per unit | [$475000 / 25000 units] | $19 | Answer |
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For Goody Company, the budgeted cost for one unit of product is
direct materials $10, direct...
Your answer is partially correct. Try again. For Goody Company, the budgeted cost for one unit...
Your answer is partially correct. Try again. For Goody Company, the budgeted cost for one unit of product is direct materials $10, direct labor $20, and manufacturing overhead 80% of direct labor cost. If 25,000 units are expected to be sold at $65 each, what is the budgeted gross profit? Budgeted cost per unit Gross profit per unit Total budgeted gross profit 475,000
Product B Product A Direct materials $14 per unit 0.5 DLH per unit 0.4 MH per...
Product B Product A Direct materials $14 per unit 0.5 DLH per unit 0.4 MH per unit $25 per unit 1.5 DLH per unit 1.1 MH per unit Direct labor hours Machine hours Batches 125 batches 250 batches 10,000 units 10 modifications 2,000 units Volume Engineering modifications Number of customers 50 modifications 500 customers 400 customers 95 per unit per 'unit Market price $35 per unit The company's direct labor rate is $20 per direct labor hour (DLH). Additional information...
Montier Corporation produces one product. Its cost includes direct materials ($10 per unit), direct labor ($8...
Montier Corporation produces one product. Its cost includes
direct materials ($10 per unit), direct labor ($8 per unit),
variable overhead ($5 per unit), fixed manufacturing ($225,000),
and fixed selling and administrative ($30,000). In October 2017,
Montier produced 25,000 units and sold 20,000 at $50 each.
Your answer is correct. Prepare an absorption costing income statement. MONTIER CORPORATION Income Statement For the Month Ended October 31, 2017 (Absorption Costing) Sales 1000000 Cost of Good Sold 640000 Gross profit 360000 Selling and...
Product A Product B Direct materials $ 14 per unit $ 24 per unit Direct labor...
Product A Product B Direct materials $ 14 per unit $ 24 per unit Direct labor hours 0.5 DLH per unit 1.5 DLH per unit Machine hours 0.4 MH per unit 1.1 MH per unit Batches 120 batches 240 batches Volume 10,000 units 2,000 units Engineering modifications 10 modifications 50 modifications Number of customers 500 customers 400 customers Market price $ 36 per unit $ 95 per unit per unit The company's direct labor rate is $20 per direct labor...
The following data are for the two products produced by Tadros Company. Product A Direct materials...
The following data are for the two products produced by Tadros Company. Product A Direct materials $14 per unit Direct labor hours 0.4 DLH per unit Machine hours 0.3 MH per unit Batches 100 batches Volume 10,000 units Engineering modifications 11 modifications Number of customers 500 customers Market price $36 per unit Product B $26 per unit 1.5 DLH per unit 1.1 MH per unit 200 batches 2,000 units 55 modifications 400 customers $ 95 per unit per unit The...
The following data are for the two products produced by Tadros Company. Direct materials Direct labor...
The following data are for the two products produced by Tadros Company. Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers Market price Product A $13 per unit 0.4 DLH per unit 0.3 MH per unit 100 batches 10,000 units 9 modifications 500 customers $36 per unit Product B $26 per unit 1.4 DLH per unit 1.0 MB per unit 200 batches 2,000 units 45 modifications 400 customers $95 per unit per unit The company's...
Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0...
Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.8 hrs. @ $11.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $24.00 19.80 33.30 $77.10 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the...
The following data are for the two products produced by Tadros Company. Direct materials Direct labor...
The following data are for the two products produced by Tadros Company. Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers Market price Product A $14 per unit 0.5 DLH per unit 0.4 MH per unit 125 batches 10,000 units 10 modifications 500 customers $35 per unit Product B $25 per unit 1.5 DLH per unit 1.1 MH per unit 250 batches 2,000 units 50 modifications 400 customers 95 per unit per Sunit The company's...
Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0...
Antuan Company set the following standard costs for one unit of its product. Direct materials (5.0 Ibs. @ $5.00 per Ib.) $ 25.00 Direct labor (1.8 hrs. @ $12.00 per hr.) 21.60 Overhead (1.8 hrs. @ $18.50 per hr.) 33.30 Total standard cost $ 79.90 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory’s capacity of 20,000 units per month. Following are the company’s budgeted overhead costs per month...
14. The following information relates to a product produced by Marigold Company: Direct materials $20 Direct...
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Your answer is partially correct. Try again. For Goody Company, the budgeted cost for one unit of product is direct materials $10, direct labor $20, and manufacturing overhead 80% of direct labor cost. If 25,000 units are expected to be sold at $65 each, what is the budgeted gross profit? Budgeted cost per unit Gross profit per unit Total budgeted gross profit 475,000
Product B Product A Direct materials $14 per unit 0.5 DLH per unit 0.4 MH per unit $25 per unit 1.5 DLH per unit 1.1 MH per unit Direct labor hours Machine hours Batches 125 batches 250 batches 10,000 units 10 modifications 2,000 units Volume Engineering modifications Number of customers 50 modifications 500 customers 400 customers 95 per unit per 'unit Market price $35 per unit The company's direct labor rate is $20 per direct labor hour (DLH). Additional information...
Montier Corporation produces one product. Its cost includes
direct materials ($10 per unit), direct labor ($8 per unit),
variable overhead ($5 per unit), fixed manufacturing ($225,000),
and fixed selling and administrative ($30,000). In October 2017,
Montier produced 25,000 units and sold 20,000 at $50 each.
Your answer is correct. Prepare an absorption costing income statement. MONTIER CORPORATION Income Statement For the Month Ended October 31, 2017 (Absorption Costing) Sales 1000000 Cost of Good Sold 640000 Gross profit 360000 Selling and...
The following data are for the two products produced by Tadros Company. Product A Direct materials $14 per unit Direct labor hours 0.4 DLH per unit Machine hours 0.3 MH per unit Batches 100 batches Volume 10,000 units Engineering modifications 11 modifications Number of customers 500 customers Market price $36 per unit Product B $26 per unit 1.5 DLH per unit 1.1 MH per unit 200 batches 2,000 units 55 modifications 400 customers $ 95 per unit per unit The...
The following data are for the two products produced by Tadros Company. Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers Market price Product A $13 per unit 0.4 DLH per unit 0.3 MH per unit 100 batches 10,000 units 9 modifications 500 customers $36 per unit Product B $26 per unit 1.4 DLH per unit 1.0 MB per unit 200 batches 2,000 units 45 modifications 400 customers $95 per unit per unit The company's...
Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $6.00 per Ib.) Direct labor (1.8 hrs. @ $11.00 per hr.) Overhead (1.8 hrs. @ $18.50 per hr.) Total standard cost $24.00 19.80 33.30 $77.10 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the...
The following data are for the two products produced by Tadros Company. Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers Market price Product A $14 per unit 0.5 DLH per unit 0.4 MH per unit 125 batches 10,000 units 10 modifications 500 customers $35 per unit Product B $25 per unit 1.5 DLH per unit 1.1 MH per unit 250 batches 2,000 units 50 modifications 400 customers 95 per unit per Sunit The company's...
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