Homework Answers
A. Required sales
= Total sales + Desired profit
=$905,000 + $472,600
=$1,377,600
Unit selling price
= Required sales/Number of unit to be sold
=$1,377,600/164,000
=$8.4 per unit
B.
Let the sales be x, then the variable cost is 0.59x and the profit is 0.30x
Profit = Sales - total cost
0.30x = x - 0.59x - $233,200
0.30x = 0.41x - $233,200
0.11x = $233,200
x = 2,120,000
Therefore, the required dollar sales is $2,120,000.
C.
Units to be sold
=Required dollar sales/selling price per unit
=$2,120,000/$7.10
=298,591 units
Add Answer to:
and so $ 285,000 220,000 133,000 Selling general, and administrative Total Round yout answer to 2...
98,000 $ 133,000 $97,000 nits Total C. t Unit d. (Use Cost per Equivalent Unit rounded...
98,000 $ 133,000 $97,000 nits Total C. t Unit d. (Use Cost per Equivalent Unit rounded to 5 decimal places and round your final Inventory
1. What was the company’s plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)...
1. What was the company’s plantwide predetermined overhead rate?
(Round your answer to 2 decimal places.)
2. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
3. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
4. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest whole...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 13,500 units follow. The company targets a profit of $388,800 on this product. Variable Costs per Unit Direct materials Fixed Costs 107 Overhead $477,000 Direct labor Selling Administrative 32 105,000 309,000 Overhead 27 Selling 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 19,000 units follow. The company targets a profit of $490,200 on this product. Fixed Costs Variable Costs per Unit Direct materials Direct labor Overhead Selling 43 38 Selling Administrative $482,000 122,000 346,000 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's selling price...
Your answer is correct. What is the contribution margin per cookie? (Round unit costs to 2...
Your answer is correct. What is the contribution margin per cookie? (Round unit costs to 2 decimal places, e.g. 12.25.) Contribution margin 0.62] per cookie LINK TO TEXT Attempts: 3 of 15 used ▼ (d) what is Mary's contribution margin ratio? (Round contribution margin ratio to 2 decimal places, eg. 30.25%.) Contribution margin ratio ary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: ales revenue ost of goods sold (all variable)...
The company’s variable selling and administrative expense per unit is $3.30. Fixed selling and administrative expenses i...
The company’s variable selling and administrative expense per
unit is $3.30. Fixed selling and administrative expenses include
advertising expenses of $11,000 per quarter, executive salaries of
$53,000 per quarter, and depreciation of $33,000 per quarter. In
addition, the company will make insurance payments of $4,000 in the
first quarter and $4,000 in the third quarter. Finally, property
taxes of $7,200 will be paid in the second quarter.
Required:
Prepare the company’s selling and administrative expense budget
for the upcoming...
Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative...
Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ievietes Amount 860,000 430 48 18 135,000 125,000 65,000 110,000 310,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin...
The following information is available for year 1 for Pepper Products: $2,250,000 133,000 113,000 261,000 796,000...
The following information is available for year 1 for Pepper Products: $2,250,000 133,000 113,000 261,000 796,000 Sales revenue (150,000 units) Manufacturing costs Materials Variable cash costs Fixed cash costs Depreciation (fixed) Marketing and administrative costs Marketing (variable, cash) Marketing depreciation Administrative (fixed, cash) Administrative depreciation Total costs Operating profits 336,000 119,000 405,000 60,000 $2,223,000 $ 27,000 All depreciation charges are fixed and are expected to remain the same for year 2. Sales volume is expected to fall by 4 percent,...
1. What was the company’s plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)...
1. What was the company’s plantwide predetermined overhead rate?
(Round your answer to 2 decimal places.)
2. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
3. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
4. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations.
Round your final answer to nearest whole...
Martin Company is considering the introduction of a new product. To determine a selling price, the...
Martin Company is considering the introduction of a new product. To determine a selling price, the company has gathered the following information: Number of units to be produced and sold each year Unit product cost Projected annual selling and administrative expenses Estimated investment required by the company Desired return on investment (ROI) 4,000 40 $ 64,000 $330,000 18% The company uses the absorption costing approach to cost-plus pricing. Required 1. Compute the markup required to achieve the desired ROl. (Round...
98,000 $ 133,000 $97,000 nits Total C. t Unit d. (Use Cost per Equivalent Unit rounded to 5 decimal places and round your final Inventory
1. What was the company’s plantwide predetermined overhead rate?
(Round your answer to 2 decimal places.)
2. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
3. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
4. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest whole...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 13,500 units follow. The company targets a profit of $388,800 on this product. Variable Costs per Unit Direct materials Fixed Costs 107 Overhead $477,000 Direct labor Selling Administrative 32 105,000 309,000 Overhead 27 Selling 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 19,000 units follow. The company targets a profit of $490,200 on this product. Fixed Costs Variable Costs per Unit Direct materials Direct labor Overhead Selling 43 38 Selling Administrative $482,000 122,000 346,000 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's selling price...
Your answer is correct. What is the contribution margin per cookie? (Round unit costs to 2 decimal places, e.g. 12.25.) Contribution margin 0.62] per cookie LINK TO TEXT Attempts: 3 of 15 used ▼ (d) what is Mary's contribution margin ratio? (Round contribution margin ratio to 2 decimal places, eg. 30.25%.) Contribution margin ratio ary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: ales revenue ost of goods sold (all variable)...
The company’s variable selling and administrative expense per
unit is $3.30. Fixed selling and administrative expenses include
advertising expenses of $11,000 per quarter, executive salaries of
$53,000 per quarter, and depreciation of $33,000 per quarter. In
addition, the company will make insurance payments of $4,000 in the
first quarter and $4,000 in the third quarter. Finally, property
taxes of $7,200 will be paid in the second quarter.
Required:
Prepare the company’s selling and administrative expense budget
for the upcoming...
Sales Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases ievietes Amount 860,000 430 48 18 135,000 125,000 65,000 110,000 310,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin...
The following information is available for year 1 for Pepper Products: $2,250,000 133,000 113,000 261,000 796,000 Sales revenue (150,000 units) Manufacturing costs Materials Variable cash costs Fixed cash costs Depreciation (fixed) Marketing and administrative costs Marketing (variable, cash) Marketing depreciation Administrative (fixed, cash) Administrative depreciation Total costs Operating profits 336,000 119,000 405,000 60,000 $2,223,000 $ 27,000 All depreciation charges are fixed and are expected to remain the same for year 2. Sales volume is expected to fall by 4 percent,...
1. What was the company’s plantwide predetermined overhead rate?
(Round your answer to 2 decimal places.)
2. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
3. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
4. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations.
Round your final answer to nearest whole...
Martin Company is considering the introduction of a new product. To determine a selling price, the company has gathered the following information: Number of units to be produced and sold each year Unit product cost Projected annual selling and administrative expenses Estimated investment required by the company Desired return on investment (ROI) 4,000 40 $ 64,000 $330,000 18% The company uses the absorption costing approach to cost-plus pricing. Required 1. Compute the markup required to achieve the desired ROl. (Round...
Most questions answered within 3 hours.
-
. Please give the mechanism for this type of problem. Step by
Step
The toxin that...
asked 12 seconds from now -
If you have a 1M stock solution and you want to dilute 1 :10
with water,...
asked 1 minute ago -
In a load instruction, the effective address is obtained by
A) Retriving the address from a...
asked 1 minute ago -
Use the following information to answer this question.
Windswept, Inc. 2017 Income Statement ($ in millions)...
asked 2 minutes ago -
A mutual fund salesperson has arranged to call on four people
tomorrow. Based on past experience...
asked 35 minutes ago -
Let the RV Y has the pdf
f ( y ) = 6 y ( 1...
asked 47 minutes ago -
Question 12
Where should a copy of a private key should be placed so it is...
asked 4 minutes ago -
What is the entropy change to the surroundings when 1 mol of ice
melts in someone's...
asked 24 minutes ago -
Pt1
An electrochemical cell is set up at 25°C based on the overall
reaction represented by...
asked 30 minutes ago -
Explain traveling wave theory. Explain how the peaking of the
wave leads to action potentials and...
asked 21 minutes ago -
If you mixed 35.0 mLmL of 0.100 M Tris-HCl with 65.0
mLmL of 0.200 M Tris-base, what would...
asked 18 minutes ago -
Which force do you think wields a stronger influence over our
ethical behavior – our personal...
asked 23 minutes ago