1. Assuming the company uses variable costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
2. Prepare a variable costing income statement for 2020.
(Enter negative amounts using either a negative sign
preceding the number e.g. -45 or parentheses e.g.
(45).)
3. Assuming the company uses absorption costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
4. Prepare an absorption costing income statement for 2020.
(Enter negative amounts using either a negative sign
preceding the number e.g. -45 or parentheses e.g.
(45).)
1.
2.
3.
Fixed manufacturing overhead per unit = $303,600 / 92,000 units = $3.30
4.
1. Assuming the company uses variable costing, calculate Marigold’s manufacturing cost per unit for 2020. (Round...
Exercise 6-17 Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $9.90 $4.55 $7.66 $5.15 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $303,600 $277.332 Siren Company sells the fishing lures for $33.00. During 2020, the company sold 80,000 lures and produced 92,000 lures. Assuming the...
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $8.70 $4.00 $6.73 $4.52 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $266,800 $243,716 Siren Company sells the fishing lures for $29.00. During 2020, the company sold 82,000 lures and produced 92,000 lures. Your answer is correct....
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $9.60 Direct labor $4.42 Variable manufacturing overhead $7.42 Variable selling and administrative expenses $4.99 Fixed Costs per Year Fixed manufacturing overhead $281,600 Fixed selling and administrative expenses $268,928 Siren Company sells the fishing lures for $32.00. During 2020, the company sold 79,000 lures and produced 88,000 lures. Assuming the company uses...
Exercise 6-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $10.05 Direct labor $4.62 Variable manufacturing overhead $7.77 Variable selling and administrative expenses $5.23 Fixed Costs per Year Fixed manufacturing overhead $311,550 Fixed selling and administrative expenses $281,534 Siren Company sells the fishing lures for $33.50. During 2020, the company sold 81,000 lures and produced 93,000...
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $7.80 $3.59 $6.03 4.06 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $244,400 $218,504 Siren Company sells the fishing lures for $26.00. During 2020, the company sold 80,000 lures and produced 94,000 lures. Your answer is correct....
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $8.70 Direct labor $4.00 Variable manufacturing overhead $6.73 Variable selling and administrative expenses $4.52 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $266,800 $243,716 Siren Company sells the fishing lures for $29.00. During 2020, the company sold 82,000 lures and produced 92,000 lures. Your answer is incorrect....
Exercise 19-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $7.88 $3.62 $6.09 $4.10 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $241,960 $220,605 Siren Company sells the fishing lures for $26.25. During 2017, the company sold 80,000 lures and produced 92,000...
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $10.05 Direct labor $4.62 Variable manufacturing overhead $7.77 Variable selling and administrative expenses $5.23 Fixed Costs per Year Fixed manufacturing overhead $311,550 Fixed selling and administrative expenses $281,534 Siren Company sells the fishing lures for $33.50. During 2020, the company sold 81,000 lures and produced 93,000 lures. Assuming the company uses...
Question 3 Marigold Industries incurs unit costs of $8 (95 variable and $3fied) in making an assembly part for its finished product. A supplier offers to make 10,300 of the assembly part at $6 per unit. If the offer is accepted, Marigold will save all variable costs but no fixed costs. Prepare an analysis showing the total cost saving.cany, Marigold will realize by buying the part. (If amount decreases net income then enter the amount using either a negative sign...
Pierce Company had the following costs: Calculate the unit product cost using absorption costing and variable costing. Units produced 500 units Manufacturing costs: Direct materials Direct labor 25 per unit 45 per unit 15 per unit 5,000 per year Variable manufacturing overhead Fixed manufacturing overhead Selling and administrative costs: Variable selling and administrative costs 30 per unit 3,200 per year Fixed selling and administrative costs 1. Pierce Company had the following costs: Click on the icon to view the data.)...