Question
In: Accounting
Panther Company had the following historical accounting data per unit: Direct materials $60 Direct labor 30...
Panther Company had the following historical accounting data per unit:
| Direct materials | $60 |
| Direct labor | 30 |
| Variable overhead | 15 |
| Fixed overhead | 24 |
| Variable selling expenses | 45 |
| Fixed selling expenses | 9 |
The units are normally transferred internally from Division A to
Division B. The units also may be sold externally for $210 per
unit. The minimum profit level accepted by the company is a markup
of 30 percent. There were no beginning or ending inventories.
If the negotiated price is used, Division A's transfer price should
be a
a.maximum of $198.90.
b.maximum of $210.00.
c.minimum of $120.00.
d.minimum of $153.00.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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Direct Labor $15 per unit
Variable overhead $5 per unit
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Variable selling expenses $3 per unit
Fixed selling and admin. expenses $150,000
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Calculate the VARIABLE product cost per unit and prepare a
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Lilac, LLC had the following amounts: Direct materials $12 per unit Direct Labor $14 per unit...
Lilac, LLC had the following amounts:
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Fixed overhead $67,500 Variable selling expenses $4 per unit
Fixed selling and administrative expenses $112,000
67,500 units produced
59,500 units sold
Sales price per unit is $44 each
Calculate the Absorption product cost per unit and prepare a
Multi-Step Income Statement under Absorption Costing in order to
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Absorption product cost per unit...
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ashton, inc.has the following cost data for product x: direct
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manufacturing overhead 11 fixed manufacturing overhead 15,000 per
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Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials...
Standard Direct Materials Cost per Unit from Variance Data
The following data relating to direct materials cost for October
of the current year are taken from the records of Good Clean Fun
Inc., a manufacturer of organic toys:
Quantity of direct materials used
6,300 lbs.
Actual unit price of direct materials
$3.9 per lb.
Units of finished product manufactured
1,515 units
Standard direct materials per unit of finished product
4 lbs.
Direct materials quantity variance—unfavorable
$960
Direct materials price variance—favorable...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for...
Hutto Corp. has set the following standard direct materials and
direct labor costs per unit for the product it manufactures. Direct
materials (15 lbs. @ $4 per lb.) $60 Direct labor (4 hrs. @ $14 per
hr.) 56 During May the company incurred the following actual costs
to produce 8,200 units. Direct materials (125,700 lbs. @ $3.80 per
lb.) $ 477,660 Direct labor (36,900 hrs. @ $14.10 per hr.). 520,290
AH = Actual Hours SH = Standard Hours AR =...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for...
Hutto Corp. has set the following standard direct materials and
direct labor costs per unit for the product it
manufactures.
Direct materials (16 lbs. @ $4 per lb.)
$64
Direct labor (3 hrs. @ $15 per hr.)
45
During May the company incurred the following actual costs to
produce 8,600 units.
Direct materials (139,900 lbs. @ $3.80 per lb.)
$
531,620
Direct labor (29,100 hrs. @ $15.10 per hr.).
439,410
AQ = Actual Quantity
SQ = Standard Quantity
AP =...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for...
Hutto Corp. has set the following standard direct materials and
direct labor costs per unit for the product it manufactures.
Direct materials (15 lbs. @ $4
per lb.)
$60
Direct labor (3 hrs. @ $14 per
hr.)
42
During May the company incurred the following actual costs to
produce 8,400 units.
Direct materials (129,900 lbs. @
$3.80 per lb.)
$
493,620
Direct labor (28,300 hrs. @
$14.10 per hr.).
399,030
AQ = Actual Quantity
SQ = Standard Quantity
AP =...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for...
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direct labor costs per unit for the product it
manufactures.
Direct materials (15 lbs. @ $3 per lb.)
$45
Direct labor (3 hrs. @ $16 per hr.)
48
During May the company incurred the following actual costs to
produce 8,800 units.
Direct materials (135,000 lbs. @ $2.80 per lb.)
$
378,000
Direct labor (29,700 hrs. @ $16.10 per hr.).
478,170
AH = Actual Hours
SH = Standard Hours
AR =...
Hutto Corp. has set the following standard direct materials and direct labor costs per unit for...
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direct labor costs per unit for the product it
manufactures.
Direct materials (15 lbs. @ $3 per lb.)
$45
Direct labor (2 hrs. @ $15 per hr.)
30
During May the company incurred the following actual costs to
produce 8,400 units.
Direct materials (129,400 lbs. @ $2.80 per lb.)
$
362,320
Direct labor (20,500 hrs. @ $15.10 per hr.).
309,550
AH = Actual Hours
SH = Standard Hours
AR =...
Reed Corp. has set the following standard direct materials and direct labor costs per unit for...
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direct labor costs per unit for the product it
manufactures.
Direct materials (15 lbs. @ $4 per lb.)
$60
Direct
labor (3 hrs. @ $15 per hr.)
45
During June the company incurred the following actual costs to
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Direct materials (130,400 lbs. @ $3.70 per lb.)
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482,480
Direct
labor (29,700 hrs. @ $15.15 per hr.).
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AQ = Actual Quantity
SQ = Standard Quantity
AP =...
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