Question
In: Accounting
The following information is for the Mulligan Company for 2019. The company sells just one product:...
The following information is for the Mulligan Company for 2019. The company sells just one product:
| Description | Date | Units | Unit cost |
| Beginning Inventory | 1/1 | 20 | $58 |
| Purchase: | 2/12 | 50 | $62 |
| Purchase: | 5/26 | 60 | $64 |
| Purchase: | 6/15 | 70 | $72 |
| Sales: | 3/18 | 60 | |
| Sales: | 6/3 | 90 |
Mulligan Company sold products at a fixed price of $120 per unit during this period.
Calculate gross profit for 2019 using the periodic method and last-in, first-out method.
The gross profit is _____________. (provide a number with no dollar sign, no thousand separator.)
Solutions
ekkarill92 answered 3 years agoRelated Solutions
The EG Company produces and sells one product. The following data refer to the year just...
The EG Company produces and sells one product. The following
data refer to the year just completed:
Beginning inventory
0
Units produced
34,100
Units sold
28,100
Sales price per unit
$
452
Selling and administrative expenses:
Variable per unit
$
23
Fixed (total)
$
393,400
Manufacturing costs:
Direct materials cost per unit
$
208
Direct labor cost per unit
$
58
Variable manufacturing overhead cost per unit
$
38
Fixed manufacturing overhead
$
716,100
Assume that direct labor is a...
The EG Company produces and sells one product. The following data refer to the year just...
The EG Company produces and sells one product. The following
data refer to the year just completed:
Beginning inventory
0
Units produced
28,600
Units sold
27,300
Sales price per unit
$
495
Selling and administrative expenses:
Variable per unit
$
23
Fixed (total)
$
382,200
Manufacturing costs:
Direct materials cost per unit
$
279
Direct labor cost per unit
$
52
Variable manufacturing overhead cost per unit
$
36
Fixed manufacturing overhead
$
629,200
Assume that direct labor is a...
Walsh company manufactures and sells one product. The following information pertains to each of the company...
Walsh company manufactures and sells one product. The
following information pertains to each of the company s first two
years of operations.
Direct materials. 25$
Direct
labor.
10$
Variable manufacturing overhead 4$
Variable selling and administrative. 3$
Fixed manufacturing overhead. 240000$
Fixed selling and administrative expenses. 60000$
During its first year of operations , Walsh produced 50000 units
and sold 40000 units. During its second year of operations , it
produced 40000 units and sold 50000 units. The selling price...
Haas Company manufactures and sells one product. The following information pertains to each of the company�s...
Haas Company manufactures and sells one product. The following
information pertains to each of the company�s first three years of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$30
Direct labor
$22
Variable manufacturing
overhead
$6
Variable selling and administrative
$2
Fixed costs per year:
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$
540,000
Fixed selling and administrative
expenses
$
240,000
During its first year of operations, Haas produced 60,000 units
and sold 60,000 units. During its second year...
Walsh Company manufactures and sells one product. The following information pertains to each of the company’s...
Walsh Company manufactures and sells one product. The following
information pertains to each of the company’s first two years of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$
20
Direct labor
$
13
Variable manufacturing overhead
$
4
Variable selling and administrative
$
3
Fixed costs per year:
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$
320,000
Fixed selling and administrative expenses
$
70,000
During its first year of operations, Walsh produced 50,000 units
and sold 40,000 units. During its second year of...
Walsh Company manufactures and sells one product. The following information pertains to each of the company’s...
Walsh Company manufactures and sells one product. The following
information pertains to each of the company’s first two years of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$
29
Direct labor
$
15
Variable manufacturing overhead
$
3
Variable selling and administrative
$
2
Fixed costs per year:
Fixed manufacturing overhead
$
320,000
Fixed selling and administrative expenses
$
70,000
During its first year of operations, Walsh produced 50,000 units
and sold 40,000 units. During its second year of...
Haas Company manufactures and sells one product. The following information pertains to each of the company’s...
Haas Company manufactures and sells one product. The following
information pertains to each of the company’s first three years of
operations:
Variable costs
per unit:
Manufacturing:
Direct
materials
$
28
Direct
labor
$
20
Variable
manufacturing overhead
$
4
Variable selling
and administrative
$
3
Fixed costs per
year:
Fixed
manufacturing overhead
$
210,000
Fixed selling
and administrative expenses
$
150,000
During its first year of operations, Haas produced 60,000 units
and sold 60,000 units. During its second year of...
Walsh Company manufactures and sells one product. The following information pertains to each of the company’s...
Walsh Company manufactures and sells one product. The following
information pertains to each of the company’s first two years of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$
24
Direct labor
$
13
Variable manufacturing
overhead
$
5
Variable selling and
administrative
$
4
Fixed costs per year:
Fixed manufacturing
overhead
$
240,000
Fixed selling and administrative
expenses
$
50,000
During its first year of operations, Walsh produced 50,000 units
and sold 40,000 units. During its second year of...
Haas Company manufactures and sells one product. The following information pertains to each of the company’s...
Haas Company manufactures and sells one product. The following
information pertains to each of the company’s first three years of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$
30
Direct labor
$
22
Variable manufacturing overhead
$
6
Variable selling and administrative
$
2
Fixed costs per year:
Fixed manufacturing overhead
$
540,000
Fixed selling and administrative expenses
$
240,000
During its first year of operations, Haas produced 60,000 units
and sold 60,000 units. During its second year of...
Walsh Company manufactures and sells one product. The following information pertains to each of the company’s...
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information pertains to each of the company’s first two years of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$
21
Direct labor
$
14
Variable manufacturing
overhead
$
2
Variable selling and
administrative
$
1
Fixed costs per year:
Fixed manufacturing
overhead
$
240,000
Fixed selling and administrative
expenses
$
80,000
During its first year of operations, Walsh produced 50,000 units
and sold 40,000 units. During its second year of...
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