Question
In: Accounting
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Learned Corporation has provided the following information:
| Cost per Unit | Cost per Period | |||||
| Direct materials | $ | 5.30 | ||||
| Direct labor | $ | 4.40 | ||||
| Variable manufacturing overhead | $ | 2.00 | ||||
| Fixed manufacturing overhead | $ | 22,000 | ||||
| Sales commissions | $ | 0.50 | ||||
| Variable administrative expense | $ | 0.40 | ||||
| Fixed selling and administrative expense | $ | 6,000 | ||||
Required:
a. For financial reporting purposes, what is the total amount of
product costs incurred to make 5,000 units?
b. For financial reporting purposes, what is the total amount of
period costs incurred to sell 5,000 units?
c. If the selling price is $24.10 per unit, what is the
contribution margin per unit sold? (Round your answer to 2
decimal places.)
d. If 6,000 units are produced, what is the total amount of direct
manufacturing cost incurred?
e. If 6,000 units are produced, what is the total amount of
indirect manufacturing costs incurred?
|
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Learned Corporation has provided the following information:
Cost per Unit
Cost per Period
Direct materials
$
5.60
Direct labor
$
4.55
Variable manufacturing overhead
$
2.15
Fixed manufacturing overhead
$
21,000
Sales commissions
$
0.80
Variable administrative expense
$
0.70
Fixed selling and administrative expense
$
6,500
Required:
a. For financial reporting purposes, what is the total amount of
product costs incurred to make 5,000 units?
b. For financial reporting purposes, what is the total amount of
period costs incurred...
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Learned Corporation has provided the following information:
Cost per Unit
Cost per Period
Direct materials
$
6.10
Direct labor
$
4.15
Variable manufacturing overhead
$
1.75
Fixed manufacturing overhead
$
27,600
Sales commissions
$
0.50
Variable administrative expense
$
0.40
Fixed selling and administrative expense
$
7,800
Required:
a. For financial reporting purposes, what is the total amount of
product costs incurred to make 6,000 units?
b. For financial reporting purposes, what is the total amount of
period costs incurred...
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Learned Corporation has provided the following information: Cost
per Unit Cost per Period Direct materials $ 5.60 Direct labor $
4.55 Variable manufacturing overhead $ 2.15 Fixed manufacturing
overhead $ 21,000 Sales commissions $ 0.80 Variable administrative
expense $ 0.70 Fixed selling and administrative expense $ 6,500
Required: a. For financial reporting purposes, what is the total
amount of product costs incurred to make 5,000 units? b. For
financial reporting purposes, what is the total amount of period
costs incurred...
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Learned Corporation has provided the following information: Cost
per Unit Cost per Period Direct materials $ 5.10 Direct labor $
4.30 Variable manufacturing overhead $ 1.90 Fixed manufacturing
overhead $ 36,000 Sales commissions $ 0.80 Variable administrative
expense $ 0.70 Fixed selling and administrative expense $ 12,600
Required: a. For financial reporting purposes, what is the total
amount of product costs incurred to make 9,000 units? b. For
financial reporting purposes, what is the total amount of period
costs incurred...
Kurt Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Kurt Corporation has provided the following information: Cost
per Unit Cost per Period Direct materials $ 6.40 Direct labor $
3.20 Variable manufacturing overhead $ 1.20 Fixed manufacturing
overhead $ 14,400 Sales commissions $ 0.40 Variable administrative
expense $ 0.45 Fixed selling and administrative expense $ 3,300 If
the selling price is $20.20 per unit, the contribution margin per
unit sold is closest to:
Multiple Choice
$6.20
$5.35
$8.55
$10.60
Kesterson Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Kesterson Corporation has provided the following
information:
Cost per Unit
Cost per Period
Direct materials
$
6.30
Direct labor
$
3.30
Variable manufacturing overhead
$
1.25
Fixed manufacturing overhead
$
15,000
Sales commissions
$
1.30
Variable administrative expense
$
0.60
Fixed selling and administrative expense
$
4,200
If 7,000 units are produced, the total amount of indirect
manufacturing cost incurred is closest to:
Multiple Choice
$8,750
$27,950
$23,750
$15,000
Pedregon Corporation has provided the following information:
Cost per Unit
Cost...
Pedregon Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Pedregon Corporation has provided the following information:
Cost per Unit
Cost per Period
Direct materials
$
6.40
Direct labor
$
3.20
Variable manufacturing overhead
$
1.20
Fixed manufacturing overhead
$
14,400
Sales commissions
$
0.40
Variable administrative expense
$
0.45
Fixed selling and administrative expense
$
3,300
If 4,500 units are sold, the total variable cost is closest
to:
Multiple Choice
$68,625
$52,425
$61,200
$48,600
Glew Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Glew Corporation has provided the following information:
Cost per Unit
Cost per Period
Direct
materials
$
6.00
Direct labor
$
3.35
Variable manufacturing
overhead
$
1.75
Fixed manufacturing
overhead
$
8,800
Sales commissions
$
1.00
Variable administrative
expense
$
0.40
Fixed selling and administrative
expense
$
4,000
For financial reporting purposes, the total amount of period
costs incurred to sell 4,000 units is closest to:
Multiple Choice
$9,600
$6,400
$5,600
$4,000
1.Sparacino Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
1.Sparacino Corporation has provided the following
information:
Cost per Unit
Cost per Period
Direct
materials
$
6.90
Direct labor
$
3.90
Variable manufacturing
overhead
$
1.70
Fixed manufacturing
overhead
$
25,200
Sales commissions
$
1.50
Variable administrative
expense
$
0.55
Fixed selling and administrative
expense
$
8,100
If 5,000 units are produced, the total amount of manufacturing
overhead cost is closest to:
2. Glew Corporation has provided the following information:
Cost per Unit
Cost per Period
Direct
materials
$
6.00...
Dennison Corporation has provided the following information: Direct Materials $6.00 per unit Direct Labor $3.00 per...
Dennison Corporation has provided the following information:
Direct Materials $6.00 per unit
Direct Labor $3.00 per unit
Variable MOH $2.00 per unit
Sales Commission $1.00 per unit
Variable Administrative expenses $0.50
Total Fixed MOH $10,000
Total Fixed Selling and administrative expenses $5,000
5,000 units were produced and 4,900 units were sold.
There was no beginning inventory. ANSWER THE FOLLOWING QUESTIONS
1. What is the unit product cost under variable costing? 2. What is
the unit product cost under absorption costing?...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Explain the capabilities of the Ollgdbg and its interfaces. What is rebasing?
- Woodbridge Manufacturing case in Appendix E, and use the three primary project evaluation methods (NPV, IRR...
- I need some good/new/not common research topics for my proposal assignment (Don't Need Political Topics, Technology...
- Write a C++ program that reads integers from standard input until end of file. Print out...
- Woo Audio is a small company in New York that makes high-quality headphone amplifiers. The company...
- How are users categorized? In Linux, which user has all the privileges? Why do we need...
- Force Table: If the center ring were to have considerable mass, what effect would it have...
ADVERTISEMENT