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Hardware Engineering Inc. is making a product for the Asian/African market. The following cost data for...
Reference: Table 1 Tech Engineering in TN is making a product for the overseas market. The...
Reference: Table 1 Tech Engineering in TN is making a product for the overseas market. The following cost data for the product has been compiled. Item Cost Selling price $167 | Materials and purchased parts | $25/unit Direct Labor | 2 hrs at $20 per hour Fixed Cost $1,400,000 2.1 The breakeven volume for this product is A) 14,433 B) 8,383 C) 20,000 D) None of these 2.2. To reduce the breakeven volume to 15,000 units, what should be the...
The Maxwell Company manufactures and sells a single product. Price and cost data regarding Maxwell's product...
The Maxwell Company manufactures and sells a single product. Price and cost data regarding Maxwell's product and operations are as follows: $25.00 Selling price per unit Variable cost per unit Raw materials Direct Labor Manufacturing Overhead 11.00 5.00 2.50 Fixed Manufacturing Overhead $192,000 $276,000 Annual Fixed Selling and Administration Variable Selling costs per unit sold $1.30 Forecasted Annual Sales Volume (120,000 units) $3,000,000 Required: Show your calculations 1. Maxwell's breakeven point in units is? 2. Maxwell's breakeven point in dollars...
The Maxwell Company manufactures and sells a single product. Price and cost data regarding Maxwell's product...
The Maxwell Company manufactures and sells a single product. Price and cost data regarding Maxwell's product and operations are as follows: Selling price per unit $25.00 Variable cost per unit Raw materials Direct Labor Manufacturing Overhead 11.00 5.00 2.50 Fixed Manufacturing Overhead $192,000 Annual Fixed Selling and Administration Variable Selling costs per unit sold $276,000 $1.30 Forecasted Annual Sales Volume (120,000 units) $3,000,000 Required: Show your calculations 1. Maxwell's breakeven point in units is? 2. Maxwell's breakeven point in dollars...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $1.50 per pound) $9.00 Direct labor (1 hours at $10.00 per hour) $10.00 During the month of April, the company manufactures 150 units and incurs the following actual costs. Direct materials purchased and used (1,500 pounds) $2,400 Direct labor (160 hours) $1,584 Compute the total, price, and quantity variances for materials and labor. Total materials...
Exercise 24-07 (Video) Levine Inc., which produces a single product, has prepared the following standard cost...
Exercise 24-07 (Video) Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $20 Direct materials (8 pounds at $2.50 per pound) Direct labor (3 hours at $12.00 per hour) $36 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1,900 pounds) Direct labor (700 hours) $5,035 $8,120 Compute the total, price, and quantity variances for materials and...
Product Cost Method of Product Costing MyPhone, Inc., uses the product cost method of applying the...
Product Cost Method of Product Costing MyPhone, Inc., uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 4,550 units of cell phones are as follows: Variable costs: Fixed costs: Direct materials $77 per unit Factory overhead $198,400 Direct labor 32 Selling and admin. exp. 68,800 Factory overhead 24 Selling and admin. exp. 22 Total variable cost per unit $155 per unit MyPhone desires a profit equal to a 14% rate...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (7 pounds at $1.60 per pound) Direct labor (1 hours at $10.00 per hour) $11.20 $10.00 During the month of April, the company manufactures 350 units and incurs the following actual costs. Direct materials purchased and used (2,000 pounds) Direct labor (370 hours) $3,600 $3,663 Compute the total, price, and quantity variances for materials and labor. Total materials...
Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have...
Super Systems Ltd. manufactures a number of computer hardware products. The following variable cost standards have been set for one of their products. Particulars Standard Price/rate Direct materials $10 per pound Direct labor ? Variable manufacturing overhead $5.375 per hour Total standard variable cost to manufacture the product is $75 per product. During February, 850 direct labor hours were worked and 600 units of the product were manufactured. Each unit of product required one unit of raw material. The actual...
Product Cost Method of Product Costing Voice Com, Inc., uses the product cost method of applying...
Product Cost Method of Product Costing Voice Com, Inc., uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 5,090 units of cell phones are as follows: Variable costs: Fixed costs: Direct materials $62 per unit Factory overhead $200,500 Direct labor 30 Selling and admin. exp. 71,200 Factory overhead 23 Selling and admin. exp. 19 Total variable cost per unit $134 per unit Voice Com desires a profit equal to a...
Product Cost Method of Product Costing Voice Com, Inc., uses the product cost method of applying...
Product Cost Method of Product Costing Voice Com, Inc., uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 5,420 units of cell phones are as follows: Variable costs: Fixed costs Direct materials $73 per unit Factory overhead $199,100 Direct labor Selling and admin. exp. 69,200 Factory overhead Selling and admin. exp. 18 Total variable cost per unit $146 per unit Voice Com desires a profit equal to a 13% rate...
Reference: Table 1 Tech Engineering in TN is making a product for the overseas market. The following cost data for the product has been compiled. Item Cost Selling price $167 | Materials and purchased parts | $25/unit Direct Labor | 2 hrs at $20 per hour Fixed Cost $1,400,000 2.1 The breakeven volume for this product is A) 14,433 B) 8,383 C) 20,000 D) None of these 2.2. To reduce the breakeven volume to 15,000 units, what should be the...
The Maxwell Company manufactures and sells a single product. Price and cost data regarding Maxwell's product and operations are as follows: $25.00 Selling price per unit Variable cost per unit Raw materials Direct Labor Manufacturing Overhead 11.00 5.00 2.50 Fixed Manufacturing Overhead $192,000 $276,000 Annual Fixed Selling and Administration Variable Selling costs per unit sold $1.30 Forecasted Annual Sales Volume (120,000 units) $3,000,000 Required: Show your calculations 1. Maxwell's breakeven point in units is? 2. Maxwell's breakeven point in dollars...
The Maxwell Company manufactures and sells a single product. Price and cost data regarding Maxwell's product and operations are as follows: Selling price per unit $25.00 Variable cost per unit Raw materials Direct Labor Manufacturing Overhead 11.00 5.00 2.50 Fixed Manufacturing Overhead $192,000 Annual Fixed Selling and Administration Variable Selling costs per unit sold $276,000 $1.30 Forecasted Annual Sales Volume (120,000 units) $3,000,000 Required: Show your calculations 1. Maxwell's breakeven point in units is? 2. Maxwell's breakeven point in dollars...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (6 pounds at $1.50 per pound) $9.00 Direct labor (1 hours at $10.00 per hour) $10.00 During the month of April, the company manufactures 150 units and incurs the following actual costs. Direct materials purchased and used (1,500 pounds) $2,400 Direct labor (160 hours) $1,584 Compute the total, price, and quantity variances for materials and labor. Total materials...
Exercise 24-07 (Video) Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $20 Direct materials (8 pounds at $2.50 per pound) Direct labor (3 hours at $12.00 per hour) $36 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1,900 pounds) Direct labor (700 hours) $5,035 $8,120 Compute the total, price, and quantity variances for materials and...
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (7 pounds at $1.60 per pound) Direct labor (1 hours at $10.00 per hour) $11.20 $10.00 During the month of April, the company manufactures 350 units and incurs the following actual costs. Direct materials purchased and used (2,000 pounds) Direct labor (370 hours) $3,600 $3,663 Compute the total, price, and quantity variances for materials and labor. Total materials...
Product Cost Method of Product Costing Voice Com, Inc., uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 5,420 units of cell phones are as follows: Variable costs: Fixed costs Direct materials $73 per unit Factory overhead $199,100 Direct labor Selling and admin. exp. 69,200 Factory overhead Selling and admin. exp. 18 Total variable cost per unit $146 per unit Voice Com desires a profit equal to a 13% rate...
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