hy can u please answer this question![Problem 1-22 Cost Terminology; Contribution Format Income Statement (L01-2, LO1-4, LO1-6] Miller Companys total sales are $1](http://img.homeworklib.com/questions/2952bde0-5cf3-11ea-b458-bd152e2e7a1c.png?x-oss-process=image/resize,w_560)
Homework Answers
The various computations are given below:
1.Total manufacturing overhead cost=Conversion cost-Direct labor
Total manufacturing overhead cost=$79,200-$23,760
Total manufacturing overhead cost=$55,440
Working note:
Conversion cost=Direct labor/Allocation
Conversion cost=$23,760/0.30
Conversion cost=$79,200
2.Total direct materials cost=Prime cost-Direct labor
Total direct materials cost=$59,400-$23,760
Total direct materials cost=$35,640
Working note:
Prime cost=Direct labor/allocation
Prime cost=$23,760/0.40
Prime cost=$59,400
3. Total manufacturing cost=direct material+direct labor+manufacturing overhead
Total manufacturing cost=$35,640+$23,760+$55,440
Total manufacturing cost=$114,840
4.Total variable selling and administrative cost=Sales*allocation
Total variable selling and administrative cost=$198,000*5%
Total variable selling and administrative cost=$9,900
5.Total variable cost=direct material +direct labor+variable selling and administrative expenses
Total variable cost=$35,640+$23,760+$9,900
Total variable cost=$69,300
6.Total fixed cost=Manufacturing overheads+fixed selling and administrative expenses
Total fixed cost=$55,440+$19,800
Total fixed cost=$75,240
Working note:
Fixed selling and administrative expenses=Total selling and administrative expenses-Variable selling and administrative expenses
Fixed selling and administrative expenses=$29,700-$9,900=$19,800
7.Total contribution margin=Total sales-Total variable cost
Total contribution margin=$198,000-$69,300
Total contribution margin=$128,700
Add Answer to:
hy can u please answer this question
Problem 1-22 Cost Terminology; Contribution Format Income Statement (L01-2,...
Problem 1-22 Cost Terminology; Contribution Format Income Statement [LO1-2, LO1-4, LO1-6] Miller Company's total sales are...
Problem 1-22 Cost Terminology; Contribution Format Income Statement [LO1-2, LO1-4, LO1-6] Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending Inventories and its manufacturing overhead costs are entirely fixed costs...
Problem 1-22 Cost Terminology: Contribution Format Income Statement [LO1-2, LO1-4, LO1-6 Miller Company's total sales are...
Problem 1-22 Cost Terminology: Contribution Format Income Statement [LO1-2, LO1-4, LO1-6 Miller Company's total sales are $240,000. The company's direct labor cost is $28,800, which represents 30% of its total conversion cost and 40% of its total prime cost, its total selling and administrative expense is $36,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs....
Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30%...
Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What...
Required information The Foundational 15 (L01-1, L01-2, LO1-3, L01-4, LO1-5, LO1-6) [The following information applies to...
Required information The Foundational 15 (L01-1, L01-2, LO1-3, L01-4, LO1-5, LO1-6) [The following information applies to the questions displayed below.) Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Pixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $6.00 $3.50 $1.50 $4.00 $3.00 $2.00 $1.00 $0.50...
5 Prepare a contribution format income statement 2. Prepare a traditional format income statement 3. Calculate...
5 Prepare a contribution format income statement 2. Prepare a traditional format income statement 3. Calculate the selling price per unit 4. Calculate the variable cost per unit 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales 16 Complete this question by entering your answers in the tabs below R2 Resto...
Check my we Required information The Foundational 15 (L01-1, L01-2, L01-3, LO1-4, L01-5, LO1-6) The following...
Check my we Required information The Foundational 15 (L01-1, L01-2, L01-3, LO1-4, L01-5, LO1-6) The following information applies to thections displayed below.) Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $5.50 $3.00 $1.50 $4.00 $ 2.50...
The Foundational 15 (L01-1, L01-2, L01-3, L01-4, L01-5, LO1-6] (The following information applies to the questions...
The Foundational 15 (L01-1, L01-2, L01-3, L01-4, L01-5, LO1-6] (The following information applies to the questions displayed below) Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units. its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales comissions Variable administrative expense Average Cost per Unit $6.00 $3.50 $1.50 $4.00 $3.00 $2.00 $1.00 $0.50 es Foundational...
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, L01-2, LO1-3, LO1-4, LO1-5) Check my Dozier...
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, L01-2, LO1-3, LO1-4, LO1-5) Check my Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $ 81, eee $ 41,eee $ 19,800 31,600 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead -Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 51,480 $...
Help Save a Subm 1 Required Information The Foundational 15 (L01-1, LO1-2, L01-3, L01.4, L01-5, LO1-6)...
Help Save a Subm 1 Required Information The Foundational 15 (L01-1, LO1-2, L01-3, L01.4, L01-5, LO1-6) {The following information applies to the questions displayed below) Martinez Company's relevant range of production is 7500 units to 12.500 units. When it produces and sels 10.000 units, its average costs per unit are as follows: Part 1 of 1 10 points Average Cost per Unit $5.00 53.50 Direct notertais Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling te Fixed administrative Sales...
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, LO1-2, LO1-3, LO1-4, LO1-5] Dozier Company produced...
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, LO1-2, LO1-3, LO1-4, LO1-5] Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses fo the month: $ 85,000 $ 43,000 $ 21,400 32,800 $ 54,200 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 15,200 24,400 $...
Problem 1-22 Cost Terminology; Contribution Format Income Statement [LO1-2, LO1-4, LO1-6] Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending Inventories and its manufacturing overhead costs are entirely fixed costs...
Problem 1-22 Cost Terminology: Contribution Format Income Statement [LO1-2, LO1-4, LO1-6 Miller Company's total sales are $240,000. The company's direct labor cost is $28,800, which represents 30% of its total conversion cost and 40% of its total prime cost, its total selling and administrative expense is $36,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs....
Miller Company's total sales are $198,000. The company's direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What...
Required information The Foundational 15 (L01-1, L01-2, LO1-3, L01-4, LO1-5, LO1-6) [The following information applies to the questions displayed below.) Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Pixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $6.00 $3.50 $1.50 $4.00 $3.00 $2.00 $1.00 $0.50...
5 Prepare a contribution format income statement 2. Prepare a traditional format income statement 3. Calculate the selling price per unit 4. Calculate the variable cost per unit 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales 16 Complete this question by entering your answers in the tabs below R2 Resto...
Check my we Required information The Foundational 15 (L01-1, L01-2, L01-3, LO1-4, L01-5, LO1-6) The following information applies to thections displayed below.) Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $5.50 $3.00 $1.50 $4.00 $ 2.50...
The Foundational 15 (L01-1, L01-2, L01-3, L01-4, L01-5, LO1-6] (The following information applies to the questions displayed below) Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units. its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales comissions Variable administrative expense Average Cost per Unit $6.00 $3.50 $1.50 $4.00 $3.00 $2.00 $1.00 $0.50 es Foundational...
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, L01-2, LO1-3, LO1-4, LO1-5) Check my Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: $ 81, eee $ 41,eee $ 19,800 31,600 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead -Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 51,480 $...
Help Save a Subm 1 Required Information The Foundational 15 (L01-1, LO1-2, L01-3, L01.4, L01-5, LO1-6) {The following information applies to the questions displayed below) Martinez Company's relevant range of production is 7500 units to 12.500 units. When it produces and sels 10.000 units, its average costs per unit are as follows: Part 1 of 1 10 points Average Cost per Unit $5.00 53.50 Direct notertais Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling te Fixed administrative Sales...
Problem 1-24 Different Cost Classifications for Different Purposes (L01-1, LO1-2, LO1-3, LO1-4, LO1-5] Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses fo the month: $ 85,000 $ 43,000 $ 21,400 32,800 $ 54,200 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Variable selling expense Fixed selling expense Total selling expense Variable administrative expense Fixed administrative expense Total administrative expense $ 15,200 24,400 $...
Most questions answered within 3 hours.
-
suppose you are a new board member for an emerging
not-for-profit organization hoping to attract new...
asked 3 minutes ago -
1.What is a transcultural leader?
2.What makes a good transcultural leader?
3.The world is becoming smaller...
asked 3 minutes ago -
You have just received a large cut from a kitchen knife. Over
the following week, you...
asked 5 minutes ago -
Among 100 engineering students, 15 are chemical engineering
majors, 60 are undergraduates, and 5 are undergraduates...
asked 49 minutes ago -
On September 3, 2018, the Robers Company exchanged equipment
with Phifer Corporation. The facts of the...
asked 35 minutes ago -
Which one of the following statements about photophosphorylation
is false?
Question 3 options:
It can be...
asked 36 minutes ago -
In (Figure 1), the total resistance is 10.0 kΩ , and the
battery's emf is 22.0...
asked 50 minutes ago -
Prepare a series of 50 mL quinine standard solutions (10, 1.0,
0.10, 0.010, 0.0010μg/mL) by serial...
asked 52 minutes ago -
suppose a research organization conducts of annual expenditures.
The sampling bias of one sort or another...
asked 1 hour ago -
A positive charge traveling along a magnetic field experiences
no magnetic force (True,False)
asked 1 hour ago -
Propose a mechanism for the photoreduction of acetaphenone. How
many products can be formed? Draw their...
asked 1 hour ago -
Fogerty Company makes two products—titanium Hubs and Sprockets.
Data regarding the two products follow:
Direct
Labor-Hours...
asked 1 hour ago