Pricing
Determine the profit margin per hour on labor. (Round intermediate calculations to 2 decimal places, e.g. 10.25 and final answer to 0 decimal places, e.g. 10.)
| Profit margin on labor | $ | per hour |
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I keep doing the proper way to find the full cost & profit margin, but it...
I keep doing the proper way to
find the full cost & profit margin, but it keeps saying they're
both wrong. Can someone please explain what is going on?
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. 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 costs $ 31 per unit $ 225,000 $ 195 per unit...
Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the...
Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Time Charges $243,000 Material Loading charges Labor wages (6,000 hours) Supervisor's salary Clerical and accountant wages Irrigation supplies manager Overhead 58,800 $57,000 3,000 41,000 21,140 $122, 140 57,000 $358,800 Total Waterways has budgeted for 6,000 labor hours. It desires a $15 profit margin per hour of labor and 16% profit on materials....
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A Direct...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A 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 costs $ 36 per unit 235.000 200 per unit 18 per unit 34 per unit $ 200,000 5,000 7 per unit Required: a. Determine the variable cost per unit. Variable cost per unit b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials...
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
39
per unit
Fixed manufacturing overhead costs
$
230,000
Sales price
$
195
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
35
per unit
Fixed marketing and administrative costs
$
200,000
Units produced and sold
5,500
Variable marketing and administrative costs
$
8
per unit
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. 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 costs is as es as es as 37 per unit 200,000 205 per unit 19 per unit 33 per unit $ 190,000 5,000 $ 8 per unit Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing...
Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards ar...
Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Materials Item Per unit Cost Metal 1 lb. 63¢ per lb. Plastic 12 oz. $1.00 per lb. Rubber 4 oz. 880 per lb. Direct labor Item Per unit Cost Labor 15 min. $8.00 per hr. Predetermined overhead rate based on direct labor...
Waterways Continuing Problem 11 a-g Waterways Corporation uses very stringent standard costs in evaluating its manufacturing...
Waterways Continuing Problem 11 a-g
Waterways Corporation uses very stringent standard costs in
evaluating its manufacturing efficiency. These standards are not
“ideal” at this point, but the management is working toward that as
a goal. At present, the company uses the following standards.
Materials
Item
Per unit
Cost
Metal
1 lb.
63¢ per lb.
Plastic
12 oz.
$1.00 per lb.
Rubber
4 oz.
88¢ per lb.
Direct labor
Item
Per unit
Cost
Labor
15 min.
$9.00 per hr.
Predetermined overhead...
Exercise 6-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the...
Exercise 6-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. Direct materials used Direct labor incurred Variable manufacturing overhead Fixed manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses $93,500 $30,000 $20,500 $48,000 $72,000 $9,000 There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory. What would...
Cove’s Cakes is a local bakery. Price and cost information follows: Price per cake $ 13.81...
Cove’s Cakes is a local bakery. Price and cost information follows: Price per cake $ 13.81 Variable cost per cake Ingredients 2.21 Direct labor 1.19 Overhead (box, etc.) 0.27 Fixed cost per month $ 4,765.80 Required: 1. Determine Cove’s break-even point in units and sales dollars. (Round your Break-Even Units answer to the nearest whole number. Round your other intermediate calculations and sales dollars answer to 2 decimal places.) 2. Determine the bakery’s margin of safety if it currently...
E6-3 Determining Break-Even Point, Target Profit, Margin of Safety [LO 6-1, 6-2, 6-3] Cove's Cakes is...
E6-3 Determining Break-Even Point, Target Profit, Margin of Safety [LO 6-1, 6-2, 6-3] Cove's Cakes is a local bakery. Price and cost information follows: Price per cake Variable cost per cake Ingredients Direct labor Overhead (box, etc.) Fixed cost per month $ 13.21 2.31 1.10 0.21 $4,411.40 Required: 1. Determine Cove's break-even point in units and sales dollars. (Round your Break-Even Units answer to the nearest whole number. Round your other intermediate calculations and sales dollars answer to 2 decimal...
I keep doing the proper way to
find the full cost & profit margin, but it keeps saying they're
both wrong. Can someone please explain what is going on?
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. 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 costs $ 31 per unit $ 225,000 $ 195 per unit...
Waterways uses time and material pricing when it bids on irrigation projects. Budgeted data for the coming year are as follows. WATERWAYS CORPORATION Budgeted Costs for Irrigation Projects Time Charges $243,000 Material Loading charges Labor wages (6,000 hours) Supervisor's salary Clerical and accountant wages Irrigation supplies manager Overhead 58,800 $57,000 3,000 41,000 21,140 $122, 140 57,000 $358,800 Total Waterways has budgeted for 6,000 labor hours. It desires a $15 profit margin per hour of labor and 16% profit on materials....
Larcker Manufacturing's cost accountant has provided you with the following information for January operations: A 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 costs $ 36 per unit 235.000 200 per unit 18 per unit 34 per unit $ 200,000 5,000 7 per unit Required: a. Determine the variable cost per unit. Variable cost per unit b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with
the following information for January operations.
Direct materials
$
39
per unit
Fixed manufacturing overhead costs
$
230,000
Sales price
$
195
per unit
Variable manufacturing overhead
$
19
per unit
Direct labor
$
35
per unit
Fixed marketing and administrative costs
$
200,000
Units produced and sold
5,500
Variable marketing and administrative costs
$
8
per unit
Required:
a. Determine the variable cost per unit.
b. Determine the variable manufacturing cost...
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. 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 costs is as es as es as 37 per unit 200,000 205 per unit 19 per unit 33 per unit $ 190,000 5,000 $ 8 per unit Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing...
Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Materials Item Per unit Cost Metal 1 lb. 63¢ per lb. Plastic 12 oz. $1.00 per lb. Rubber 4 oz. 880 per lb. Direct labor Item Per unit Cost Labor 15 min. $8.00 per hr. Predetermined overhead rate based on direct labor...
Waterways Continuing Problem 11 a-g
Waterways Corporation uses very stringent standard costs in
evaluating its manufacturing efficiency. These standards are not
“ideal” at this point, but the management is working toward that as
a goal. At present, the company uses the following standards.
Materials
Item
Per unit
Cost
Metal
1 lb.
63¢ per lb.
Plastic
12 oz.
$1.00 per lb.
Rubber
4 oz.
88¢ per lb.
Direct labor
Item
Per unit
Cost
Labor
15 min.
$9.00 per hr.
Predetermined overhead...
Exercise 6-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. Direct materials used Direct labor incurred Variable manufacturing overhead Fixed manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses $93,500 $30,000 $20,500 $48,000 $72,000 $9,000 There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory. What would...
E6-3 Determining Break-Even Point, Target Profit, Margin of Safety [LO 6-1, 6-2, 6-3] Cove's Cakes is a local bakery. Price and cost information follows: Price per cake Variable cost per cake Ingredients Direct labor Overhead (box, etc.) Fixed cost per month $ 13.21 2.31 1.10 0.21 $4,411.40 Required: 1. Determine Cove's break-even point in units and sales dollars. (Round your Break-Even Units answer to the nearest whole number. Round your other intermediate calculations and sales dollars answer to 2 decimal...
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