Cost of goods sold per unit = 21+18+(18*1.5) = 66
Gross profit = Sales-Cost of goods sold = 160-66 = 94
Gross profit margin = 94/160 = 58.75%
So answer is b) 58.8%
Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $160 each...
Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $100 each. Direct materials cost $18 per unit, and direct labor costs $14 per unit. Manufacturing overhead is applied at a rate of 150% of direct labor cost. Nonmanufacturing costs are $36 per unit. What is the gross profit margin for the cat condos? (Round your intermediate calculations to nearest whole dollar) Multiple Choice 11.0% 71.5% 470% 89.0%
Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $170 each. Direct materials cost $25 per unit, and direct labor costs $13 per unit. Manufacturing overhead is applied at a rate of 270% of direct labor cost. Nonmanufacturing costs are $32 per unit. What is the gross profit margin for the cat condos? (Round your intermediate calculations to nearest whole dollar.)
Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $145 each. Direct materials cost $17 per unit, and direct labor costs $12 per unit. Manufacturing overhead is applied at a rate of 200% of direct labor cost. Nonmanufacturing costs are $35 per unit. What is the gross profit margin for the cat condos? (Round your intermediate calculations to nearest whole dollar.) Multiple Choice
Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $90 each. Direct materials cost $15 per unit, and direct labor costs $10 per unit. Manufacturing overhead is applied at a rate of 200% of direct labor cost. Nonmanufacturing cost per cat condo is $27. What is the total product cost for one cat condo?
Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $170 each. Direct materials cost $20 per unit, and direct labor costs $13 per unit. Manufacturing overhead is applied at a rate of 200% of direct labor cost. Nonmanufacturing costs are $37 per unit. What is the gross profit margin for the cat condos? (Round your intermediate calculations to nearest whole dollar.) Multiple Choice 65.3% 39.0% Oo oo 56.5% 43.5%
11. Kawhi, Inc., which uses a volume-based cost system, produces cat condos, and has a gross profit margin of 57%. Direct materials cost $19 per unit, and direct labor costs $15 per unit. Manufacturing overhead is applied at a rate of 174% of direct labor cost. Nonmanufacturing costs are $12 per unit. How much does each cat condo sell for?
Assume Gasol Company has direct labor costs of $1,096, manufacturing overhead costs of $1,457 and prime costs of $3,242. What is Gasol's direct materials cost? =========== Assume Gasol Company has direct materials cost of $2,661, direct labor costs of $1,018, manufacturing overhead costs of $1,362. What is Gasol's prime cost? ============= Leonard, Inc., which uses a volume-based cost system, produces cat condos that sell for $104 each. Direct materials cost $11 per unit, and direct labor costs $23 per unit....
Please answer all and show your work Assume Gasol Company has direct labor costs of $1,096, manufacturing overhead costs of $1,457 and prime costs of $3,242. What is Gasol's direct materials cost? ------------------------- Assume Gasol Company has direct materials cost of $2,661, direct labor costs of $1,018, manufacturing overhead costs of $1,362. What is Gasol's prime cost? ------------------------ Leonard, Inc., which uses a volume-based cost system, produces cat condos that sell for $104 each. Direct materials cost $11 per unit,...
3 pts D Question 19 Peanut, Inc. produces stuffed animal Snoopy that sells at $180 each. Direct materials cost $30 per unit, and direct labor costs $20 per unit. Manufacturing overhead is applied at a rate of 200% of direct labor cost. Nonmanufacturing costs are $54 per unit. What is the gross profit margin for the stuffed animal Snoopy? 20.0% O 80.0% 0 62.5% 50.0% Question 20 3 pts Which of the following is the best example of a batch-level...
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...