Homework Answers
| Manufacturing Cost Classification for the Year 2014 as follows: | ||||||
| Account | Total Costs | VC as % of TC | Variable Costs | Fixed Costs | Variable Costs per Unit | |
| 1 | 2 | 3 = 1 X 2 | 4 = 1 -3 | 5 = 3 / 80,000 Units | ||
| Direct Materials | 300,000.00 | 100% | 300,000.00 | - | 3.75 | |
| Direct Manufacturing Labor | 220,000.00 | 100% | 220,000.00 | - | 2.75 | |
| Power | 20,000.00 | 100% | 20,000.00 | - | 0.25 | |
| Supervision Labor | 64,000.00 | 25% | 16,000.00 | 48,000.00 | 0.20 | |
| Materials-Handling Labor | 70,000.00 | 40% | 28,000.00 | 42,000.00 | 0.35 | |
| Maintenance Labor | 60,000.00 | 40% | 24,000.00 | 36,000.00 | 0.30 | |
| Depreciation | 88,000.00 | 0% | - | 88,000.00 | - | |
| Rent, Property Taxes and Administration | 105,000.00 | 0% | - | 105,000.00 | - | |
| Total | 927,000.00 | 608,000.00 | 319,000.00 | |||
| Total Manufacturing Cost for 2014 = $927,000 | ||||||
| Variable Costs for 2015: | ||||||
| Variable Costs per Unit for 2014 | Percentage Increase | Increase in per Unit | Variable Cost per unit for 2015 | Total Variable Costs for 2015 | ||
| 5 | 6 | 7 = 5 X 6 | 8 = 5 + 7 | 9 = 8 X 90,000 | ||
| Direct Materials | 3.75 | 8% | 0.30 | 4.05 | 364,500.00 | |
| Direct Manufacturing Labor | 2.75 | 12% | 0.33 | 3.08 | 277,200.00 | |
| Power | 0.25 | - | - | 0.25 | 22,500.00 | |
| Supervision Labor | 0.20 | - | - | 0.20 | 18,000.00 | |
| Materials-Handling Labor | 0.35 | - | - | 0.35 | 31,500.00 | |
| Maintenance Labor | 0.30 | - | - | 0.30 | 27,000.00 | |
| Depreciation | - | - | - | - | - | |
| Rent, Property Taxes and Administration | - | - | - | - | - | |
| Total | 740,700.00 | |||||
| Fixed and Total Costs in 2015 | ||||||
| Fixed Costs for 2014 | Percentage Increase | Increase in FC | Fixed Costs for 2015 | Variable Cost for 2015 | Total Costs | |
| 10 | 11 | 12 = 10 X 11 | 13 = 10 + 12 | 14 | 15 = 13 + 14 | |
| Direct Materials | - | - | - | - | 364,500.00 | 364,500.00 |
| Direct Manufacturing Labor | - | - | - | - | 277,200.00 | 277,200.00 |
| Power | - | - | - | - | 22,500.00 | 22,500.00 |
| Supervision Labor | 48,000.00 | - | - | 48,000.00 | 18,000.00 | 66,000.00 |
| Materials-Handling Labor | 42,000.00 | - | - | 42,000.00 | 31,500.00 | 73,500.00 |
| Maintenance Labor | 36,000.00 | - | - | 36,000.00 | 27,000.00 | 63,000.00 |
| Depreciation | 88,000.00 | 6% | 5,280.00 | 93,280.00 | - | 93,280.00 |
| Rent, Property Taxes and Administration | 105,000.00 | 12% | 12,600.00 | 117,600.00 | - | 117,600.00 |
| Total | 319,000.00 | 17,880.00 | 336,880.00 | 740,700.00 | 1,077,580.00 | |
| Total Manufacturing Cost for 2015 = $1,077,580 | ||||||
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following manufacturing costs and account analysis classification
for the year ended December 31, 2017.
Morin, Inc., produced 72500 units of product in 2017. Morin's
management is estimating costs for 2018 on the basis of 2017
numbers. The following additional information is available for
2018.
REQUIREMENTS
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