Homework Answers
Answer
- Correct Answer = Option ‘C’ $ 113,040 is the desired profit.
- Desired profit = Invested assets x Desired rate of return
= $ 628000 x 18%
=$ 113,040
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Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production...
Magpie Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale...
Magpie Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale of 60,000 units of its sole product. Magpie desires a profit equal to a 25% rate of return on invested assets of $700,000. Fixed factory overhead cost $38,700 Fixed selling and administrative costs 7,500 Variable direct materials cost per unit 4.60 Variable direct labor cost per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative cost...
31. Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production...
31. Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 56,300 units of its sole product. Magpie desires a profit equal to a 21% rate of return on invested assets of $643,000. Fixed factory overhead cost $36,000 Fixed selling and administrative costs 7,900 Variable direct materials cost per unit 5.06 Variable direct labor cost per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative...
Mallard Corporation uses the product cost concept of product pricing. Below is cost information for the...
Mallard Corporation uses the product cost concept of product pricing. Below is cost information for the production and sale of 45,000 units of its sole product. Mallard desires a profit equal to a 12% rate of return on invested assets of $800,000. Fixed factory overhead cost $82,000 Fixed selling and administrative costs 45,000 Variable direct materials cost per unit 5.50 Variable direct labor cost per unit 7.65 Variable factory overhead cost per unit 2.25 Variable selling and administrative cost per...
18: Mallard Corporation uses the product cost concept of product pricing. Below is cost information for...
18: Mallard Corporation uses the product cost concept of product pricing. Below is cost information for the production and sale of 45,000 units of its sole product. Mallard desires a profit equal to a 12% rate of return on invested assets of $800,000. Fixed factory overhead cost $82,000 Fixed selling and administrative costs 45,000 Variable direct materials cost per unit 5.50 Variable direct labor cost per unit 7.65 Variable factory overhead cost per unit 2.25 Variable selling and administrative cost...
1) 2) 3) 4) 5) Magpie Corporation uses the total cost concept of product pricing. Below...
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Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 55,400 units of its sole product. Magpie desires a profit equal to a 18% rate of return on invested assets of $578,000. Fixed factory overhead cost Fixed selling and administrative costs Variable direct materials cost per unit Variable direct labor cost per unit Variable factory overhead cost per unit Variable selling and administrative cost...
Product Cost Concept of Product Pricing Willis Products Inc. uses the product cost concept of applying...
Product Cost Concept of Product Pricing Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 5,000 units of medical tablets are as follows: Variable costs per unit: Fixed costs: Direct materials $94 Factory overhead $160,000 Selling and admin. exp. Direct labor 34 55,000 Factory overhead 29 Selling and admin. exp. $180 Total Willis Products desires a profit equal to a 20% rate of return on invested assets...
Use this information for Mallard Corporation to answer the questions that follow. Mallard Corporation uses the...
Use this information for Mallard Corporation to answer the questions that follow. Mallard Corporation uses the product cost concept of product pricing. Below is the cost information for the production and sale of 45,000 units of its sole product, Mallard desires a profit equal to 12% rate of return on invested assets of $800,000 Fixed factory overhead cost $82,000 Fixed selling and administrative costs 45,000 Variable direct materials cost per unit 5.50 Variable direct labor cost per unit 7.65 Variable...
43. Miramar Industries manufactures two products: A and B. The manufacturing operation involves three overhead activities—production...
43. Miramar Industries manufactures two products: A and B. The manufacturing operation involves three overhead activities—production setup, material handling, and general factory activities. Miramar uses activity-based costing to allocate overhead to products. An activity analysis of the overhead revealed the following estimated costs and activity bases for these activities: Activity Cost Activity Base Production setup $250,000 Number of setups Material handling 150,000 Number of parts General overhead 80,000 Number of direct labor hours Each product's total activity in each of...
1. Tidewater Company uses the product cost concept of applying the cost-plus approach to product pricing....
1. Tidewater Company uses the product cost concept of applying the cost-plus approach to product pricing. The cost and expenses of producing and selling 50,000 units of Product K are as follows: Variable costs: Direct materials $5.00 Direct labor 8.50 Factory overhead 2.50 Selling and administrative expenses 1.00 Total $17.00 Fixed costs: Factory overhead $50,000 Selling and administrative expenses 34,000 2. Tidewater desires a profit equal to a 10% rate of return on invested assets of $1,285,000. a. Determine the...
Total Cost Concept of Product Costing Willis Products Inc. uses the total cost concept of applying...
Total Cost Concept of Product Costing Willis Products Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,000 units of medical tablets are as follows: Variable costs per unit: Fixed costs: Direct materials $94 $256,000 Factory overhead Selling and admin. exp Direct labor 34 88,000 Factory overhead 29 Selling and admin. exp. 23 $180 Total Willis Products desires a profit equal to a 25% rate of return on invested...
1)
2)
3)
4)
5)
Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 55,400 units of its sole product. Magpie desires a profit equal to a 18% rate of return on invested assets of $578,000. Fixed factory overhead cost Fixed selling and administrative costs Variable direct materials cost per unit Variable direct labor cost per unit Variable factory overhead cost per unit Variable selling and administrative cost...
Product Cost Concept of Product Pricing Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 5,000 units of medical tablets are as follows: Variable costs per unit: Fixed costs: Direct materials $94 Factory overhead $160,000 Selling and admin. exp. Direct labor 34 55,000 Factory overhead 29 Selling and admin. exp. $180 Total Willis Products desires a profit equal to a 20% rate of return on invested assets...
Use this information for Mallard Corporation to answer the questions that follow. Mallard Corporation uses the product cost concept of product pricing. Below is the cost information for the production and sale of 45,000 units of its sole product, Mallard desires a profit equal to 12% rate of return on invested assets of $800,000 Fixed factory overhead cost $82,000 Fixed selling and administrative costs 45,000 Variable direct materials cost per unit 5.50 Variable direct labor cost per unit 7.65 Variable...
Total Cost Concept of Product Costing Willis Products Inc. uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 8,000 units of medical tablets are as follows: Variable costs per unit: Fixed costs: Direct materials $94 $256,000 Factory overhead Selling and admin. exp Direct labor 34 88,000 Factory overhead 29 Selling and admin. exp. 23 $180 Total Willis Products desires a profit equal to a 25% rate of return on invested...
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