Question
In: Accounting
Roberts Corporation makes one product and has provided the following information: a. Each unit of finished...
- Roberts Corporation makes one product and has provided the following information:
a. Each unit of finished goods requires 3 pounds of raw materials. The raw materials cost $5.00 per pound.
b. The direct labor wage rate is $24.00 per hour. Each unit of finished goods requires 2.8 direct labor-hours.
c. Manufacturing overhead is entirely variable and is $11.00 per direct labor-hour.
d. The variable selling and administrative expense
per unit sold is $3.80. The fixed selling and administrative
expense per month is
$50,000.
What is the unit product cost? (show the numbers making up this value) $__________________
Solutions
Expert Solution
- Roberts Corporation makes one product and has provided the following information:
a. Each unit of finished goods requires 3 pounds of raw materials. The raw materials cost $5.00 per pound.
b. The direct labor wage rate is $24.00 per hour. Each unit of finished goods requires 2.8 direct labor-hours.
c. Manufacturing overhead is entirely variable and is $11.00 per direct labor-hour.
d. The variable selling and administrative
expense per unit sold is $3.80. The fixed selling and
administrative
expense per month is
$50,000.
What is the unit product cost? (show the numbers making up this value) $__________________
ekkarill92 answered 1 year agoRelated Solutions
Stefanovich Corporation makes one product. The company has provided the following information concerning its raw materials...
Stefanovich Corporation makes one product. The company has provided the following information concerning its raw materials needs:
The ending raw materials inventory should equal 20% of the following month’s raw materials production needs.
Each unit of finished goods requires 2 pounds of raw materials.
The raw materials cost $3.00 per pound.
The company will need 26,440 pounds of raw material to satisfy production needs in March.
The raw materials inventory balance at the end of February should be closest to:...
Creighton Corporation is a one product company and has provided the following information related to their...
Creighton Corporation is a one product company and has provided
the following information related to their product.
Sales price per unit
$60
Units produced and sold
2,000
Manufacturing cost:
Variable manufacturing cost per unit
$20
Fixed manufacturing cost per unit
12
Selling and Administrative cost:
Variable S&A cost per unit
10
Fixed S&A cost per unit
6
REQUIRED
Prepare a Contribution format income statement for Creighton
Corporation.
Calculate the break-even point in dollar sales.
How many units does Creighton have...
Information about Roboto, a product sold by Roberts, Inc. is as follows: Each unit requires five...
Information about
Roboto, a product sold by Roberts, Inc. is as follows:
Each unit requires
five pounds of material X37. Roberts is planning raw materials
needs for the second quarter. Inventory requirements are as
follows:
a.
The finished goods
inventory on hand at the end of each month must be equal to 7,000
units plus 33% of the next month’s sales. The finished goods
inventory on March 31 is budgeted based on this requirement.
b.
The raw materials
inventory...
Information about Roboto, a product sold by Roberts, Inc. is as follows: Each unit requires four...
Information about
Roboto, a product sold by Roberts, Inc. is as follows:
Each unit requires
four pounds of material X37. Roberts is planning raw materials
needs for the second quarter. Inventory requirements are as
follows:
a.
The finished goods
inventory on hand at the end of each month must be equal to 6,000
units plus 26% of the next month’s sales. The finished goods
inventory on March 31 is budgeted based on this requirement.
b.
The raw materials
inventory on...
Knight Corporation produces and sells one product. Knight has provided the following annual per unit cost...
Knight Corporation produces and sells one product. Knight has
provided the following annual per unit cost data at an activity
level of 100,000 units: $ Per Unit Sales 100.00 Direct labor 25.00
Direct material 30.00 Variable manufacturing overhead 10.00 Fixed
manufacturing overhead 20.00 Variable selling expenses 5.00 Fixed
selling expenses 4.00 Fixed administrative expenses 8.00 The
relevant range for is 90,000 - 120,000 units. You will be given
facts for three different options. Using the facts given, calculate
amounts as...
Dodd Company makes and sells a single product. Each finished unit requires four pounds of direct...
Dodd Company makes and sells a single product. Each finished unit requires
four pounds of direct materials. The budgeted units to be produced for the
third quarter of the current year are given below:
Budgeted Units to be Produced
July 26,000 units
August 21,000 units
September 33,000 units
The company wants to maintain monthly ending inventories of direct materials
equal to 35% of the next month's production needs. The cost of the direct
materials is $1.75 per pound.
Calculate the...
ELT Corporation, which makes only one product, Yester, has the following information available for the coming...
ELT Corporation, which makes only one product, Yester, has the
following information available for the coming year. ELT expects
sales to be 27,000 units at $32 per unit. The current inventory of
Yester is 3,500 units. ELT wants an ending inventory of 4,200
units. Each unit of Yester takes two units of component K.
Component K is estimated to cost $9 per unit. Current inventory of
K is 3,900 units. ELT wants 5,800 units of K on hand at the...
Morganton Company makes one product and it provided the following information to help prepare the master budget:
Morganton Company makes one product and it provided the following information to help prepare the master budget: a.The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,900, 20,000, 22,000, and 23,000 units, respectively. All sales are on credit. b.Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c.The ending finished goods inventory equals 20% of the following month’s unit sales. d.The...
Morganton Company makes one product and it provided the following information to help prepare the master budget:
Morganton Company makes one product and it provided the following information to help prepare the master budget:
The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,800, 19,000, 21,000, and 22,000 units, respectively. All sales are on credit.
Thirty percent of credit sales are collected in the month of the sale and 70% in the following month.
The ending finished goods inventory equals 20% of the following month’s unit sales.
The...
Asplund Corporation has provided the following information:
Asplund Corporation has provided the following information:
Cost per Unit
Cost per Period
Direct materials
$ 6.25
Direct labor
$ 2.90
Variable manufacturing overhead
$ 1.30
Fixed manufacturing overhead
$ 18,000
Sales commissions
$ 1.50
Variable administrative expense
$ 0.45
Fixed selling and administrative expense
$ 7,500
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,...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Merger Analysis TransWorld Communications Inc., a large telecommunications company, is evaluating the possible acquisition of Georgia...
- Journal Entries and Trial Balance Elite Realty acts as an agent in buying, selling, renting, and...
- In racket Assume that the elements of a list are indexed starting with 1. Write a...
- Describe System Development Life Cycle (SDLC) and how it is used.
- What symbolism do you find in the play,Oedipus?
- • Using the Scanner class to obtain input from the user. • Using printf to output...
- In each of the following situations, develop a tentative plan for the client. List the various...
ADVERTISEMENT