Homework Answers
Direct Variable Costs
1. Labor Cost
2. Material Cost
3. Selling Commission
Overhead Costs
1. Rent of Factory
2. Electricity Cost
3. Insurance
Period Costs
1. Staff Salary
2. CEO Salary
3. Corporate Office Rent
Sunk Costs
1. Cost of Machinery
2. Research and Development Cost
3. Cost of Training of Staff
Add Answer to:
List three direct variable costs you would find in a cell phone charger manufacturing business. Be...
ey Formulas 1) Total Contribution Margin = Sales - Variable cost 2) Contribution margin ratio =...
ey Formulas 1) Total Contribution Margin = Sales - Variable cost 2) Contribution margin ratio = Contribution margin / sales 3) Break-even point in units = Fixed cost / unit contribution margir 4) Break-even point in dollars = Fixed cost / contribution margin ra 5) Margin of Safety = Actual Revenue less Breakeven Sales Rever 6) Total Sales = Number of units sold x selling price per unit 7) Total Variable cost = Number of units sold x variable cost...
Phone Company The Phone Company has the following costs of producing and selling a cell phone...
Phone Company The Phone Company has the following costs of producing and selling a cell phone assuming it produces and sells the normal volume of 100,000 of these cell phones per month: Per unit manufacturing cost Direct materials $50.00 Direct labor 10.00 Variable manufacturing overhead cost 40.00 Fixed manufacturing overhead cost 30.00 Per unit selling cost Variable 15.00 Fixed 10.00 Note that 100,000 (normal volume of production and...
The Phone Company has the following costs of producing and selling a cell phone assuming it...
The Phone Company has the following costs of producing and selling a cell phone assuming it produces and sells the normal volume of 100,000 of these cell phones per month: Per unit manufacturing cost Direct materials $50.00 Direct labor 10.00 Variable manufacturing overhead cost 40.00 Fixed manufacturing overhead cost 30.00 Per unit selling cost Variable 15.00 Fixed 10.00 Note that 100,000 (normal volume of production and sales) is...
Variable costs per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative...
Variable costs per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative $ $ $ $ 10 4 1 1 $231,000 $141, eee During the year, the company produced 21,000 units and sold 17,000 units. The selling price of the company's product is $40 per unit. Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income...
Skolnick Corporation has provided the following information: Cost per Period Direct materials Direct labor Variable manufacturing...
Skolnick Corporation has provided the following information: Cost per Period Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $5.90 $ 4.10 $ 2.20 $152,000 $ 1.40 $ 0.30 $ 43,700 Required: a. If 9,500 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 9,500 units are produced, what is the total amount of indirect...
Ramos Company has the following unit costs: Variable manufacturing overhead Direct materials Direct labor Fixed manufacturing...
Ramos Company has the following unit costs: Variable manufacturing overhead Direct materials Direct labor Fixed manufacturing overhead Fixed marketing and administrative What cost per unit would be used for product costing under full absorption costin $33 $48 O $60 O $70 02020
1-1 What are the three major types of product costs in a manufacturing company? 1-2 Define...
1-1 What are the three major types of product costs in a manufacturing company? 1-2 Define the following: (a) direct materials, (b) indirect materials, (c) direct labor, (d) indirect labor, and (e) manufacturing overhead. Explain the difference between a product cost and a period 1-3 cost. 1-4 Distinguish between (a) a variable cost, (b) a fixed cost, and (c) a mixed cost. 1-5 What effect does an increase in the activity level have on- a. Unit fixed costs ? b....
Business Costs Product or Period Cost Variable or Fixed Cost Per Unit Cost (Variable) Annual Cost...
Business Costs Product or Period Cost Variable or Fixed Cost Per Unit Cost (Variable) Annual Cost (Fixed) Artist - contract Product Fixed $10,000 Artist - design fee Product Fixed $3,600 Computer/Printer 90% Product Fixed $5,400 Computer/Printer 10% Period Fixed $600 Depreciation - Computer/Printer 90% Product Fixed $1,800 Depreciation - Computer/Printer 10% Period Fixed $200 Depreciation - Heat Press Machine Product Fixed $1,500 Heat Press Machine Product Fixed $4,500 Liability Insurance Period Fixed $3,600 Mall Rent (Manufacutring) 90% Product Fixed $27,000...
Manufacturing companies typically have one or more of the following three types of inventory: direct materials,...
Manufacturing companies typically have one or more of the following three types of inventory: direct materials, work-in-process, and finished goods. The companies purchase materials and components and convert them into various finished goods. To be able to solve for the amounts required in this problem you need to understand the flow of inventory. Direct materials, direct labor and manufacturing overhead flow into work-in-process inventory as the units are being produced. When the units are completed the cost of the goods...
Direct Materials Fixed Manufacturing overhead costs Sales Price Variable Manufacturing overhead Direct labor Fixed marketing and...
Direct Materials Fixed Manufacturing overhead costs Sales Price Variable Manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative cost $25 per unit $157,000 $85 per unit $14 per unit $22 per unit $112,000 20,000 $7 per unit Calculate the contribution margin.
ey Formulas 1) Total Contribution Margin = Sales - Variable cost 2) Contribution margin ratio = Contribution margin / sales 3) Break-even point in units = Fixed cost / unit contribution margir 4) Break-even point in dollars = Fixed cost / contribution margin ra 5) Margin of Safety = Actual Revenue less Breakeven Sales Rever 6) Total Sales = Number of units sold x selling price per unit 7) Total Variable cost = Number of units sold x variable cost...
Variable costs per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative $ $ $ $ 10 4 1 1 $231,000 $141, eee During the year, the company produced 21,000 units and sold 17,000 units. The selling price of the company's product is $40 per unit. Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income...
Skolnick Corporation has provided the following information: Cost per Period Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $5.90 $ 4.10 $ 2.20 $152,000 $ 1.40 $ 0.30 $ 43,700 Required: a. If 9,500 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 9,500 units are produced, what is the total amount of indirect...
Ramos Company has the following unit costs: Variable manufacturing overhead Direct materials Direct labor Fixed manufacturing overhead Fixed marketing and administrative What cost per unit would be used for product costing under full absorption costin $33 $48 O $60 O $70 02020
1-1 What are the three major types of product costs in a manufacturing company? 1-2 Define the following: (a) direct materials, (b) indirect materials, (c) direct labor, (d) indirect labor, and (e) manufacturing overhead. Explain the difference between a product cost and a period 1-3 cost. 1-4 Distinguish between (a) a variable cost, (b) a fixed cost, and (c) a mixed cost. 1-5 What effect does an increase in the activity level have on- a. Unit fixed costs ? b....
Direct Materials Fixed Manufacturing overhead costs Sales Price Variable Manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold Variable marketing and administrative cost $25 per unit $157,000 $85 per unit $14 per unit $22 per unit $112,000 20,000 $7 per unit Calculate the contribution margin.
Most questions answered within 3 hours.
-
1a)
. State the difference (IN YOUR OWN
WORDS) between
-absolute advantage and comparative
advantage.
-between...
asked 10 minutes ago -
Calculate the mass of 11.3 mL of a liquid with a density of 8
g/mL. INCLUDE...
asked 16 minutes ago -
In the movie "Is America Number One" we see a continued reliance
on a concept that...
asked 15 minutes ago -
In tae-kwon-do, a hand is slammed down onto a target
at a speed of 11 m/s...
asked 15 minutes ago -
consider the following price index in 2017:85; price
index in 2018: 100; price index 2019: 110;...
asked 40 minutes ago -
What is the [CH3COO–]/[CH3COOH]
ratio necessary to make a buffer solution with a pH of 4.34?...
asked 45 minutes ago -
a
physics textbook is thrown straight upward with a velocity of 5.00
m/s from the too...
asked 45 minutes ago -
QUESTION: Provide a real-world example or describe a
hypothetical situation in which a legitimate organization used...
asked 44 minutes ago -
In the United States, laws mandating that companies be
responsible for take back of electronic wastes...
asked 1 hour ago -
URGENT PLEASE HELP. could you make it easy to understand and in
C++ thanks
1. (30...
asked 1 hour ago -
Case Study. Multi Projects
Multi Projects, Inc., is a well-established consulting firm
with 400 employees. It...
asked 1 hour ago -
An 8.00 kg point mass and a 15.0 kg point mass are held in place
50.0...
asked 1 hour ago