13. Coed Novelties manufactures key chains for college bookstores. During 2003, the company had the following costs: Direct materials used $ 31,000 Direct labor 18,000 Factory rent Equipment deprecation – factory 2, 000 Equipment depreciation – office Marketing expense Administrative expenses 12,000 750 2,500 40,000 35,000 units produced were in 2003. What is the product cost per unit? a. approximately $1.24 b. $1.80 c. approximately $3.04 d. $1.40 e. approximately $1.82

13. Coed Novelties manufactures key chains for college bookstores. During 2003, the company had the following costs: Direct materials used $ 31,000 Direct labor 18,000 Factory rent Equipment deprecation – factory 2, 000 Equipment depreciation – office Marketing expense Administrative expenses 12,000 750 2,500 40,000 35,000 units produced were in 2003. What is the product cost per unit? a. approximately $1.24 b. $1.80 c. approximately $3.04 d. $1.40 e. approximately $1.82

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

See similar textbooks

Similar questions

13. Coed Novelties manufactures key chains for college bookstores. During 2003, the company had the following costs: Direct materials used Direct labor $ 31,000 18,000 Factory rent Equipment deprecation – factory Equipment depreciation – office Marketing expense Administrative expenses 12,000 2,000 750 2,500 40,000 35,000 units produced were in 2003. What is the product cost per unit? a. approximately $1.24 b. $1.80 c. approximately $3.04 d. $1.40 e. approximately $1.82
Last year, Regio Company incurred the following costs: Direct materials 50,000 Direct Labor 20,000 Manufacturing overhead 130,000 Selling expense 40,000 Administrative expense 36,000 Regio produced and sold 10,000 units at a price of 31 each. 1. What is the prime cost per unit? 2. What is the conversion cost per unit? 3. What is the cost of goods sold per unit 4. What is the gross profit per unit? 5. What is the operating income?
VII. Polytech Inc. produces a laptop. The selling price per unit of the laptop is $500. Data for last year's operations follow: Sales (1,000 units) Variable manufacturing overhead Fixed selling and administrative costs Direct materials used Direct labor Fixed manufacturing overhead Variable selling and administrative $500,000 120,000 50,000 100,000 60,000 90,000 30,000 Required: (1) Compute the operating income or loss (2) What is the company's break-even point in number of units sold? (3) What is the company's break-even point in $ sales?
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense onio's prime cost for last quarter? Bolooo 1000 05000 $75,000 2. Antonio's total manufacturing cost is a. P 460,000 b. P 645,000 C. P 650,000 d. P 840,000 P 435,000 215,000 190,000 185,000
RU Boxing Blazers manufactures boxing gloves. In 2003, the company had the following costs: Direct Materials used Php45,000.00 Direct Labor 18,000.00 Factory Rent 12,000.00 Equipment Depreciation - Factory 2,500.00 Equipment Depreciation - Office 750.00 Marketing Expense 2,500.00 Administrative Expense 40,000.00 35,000 units were produced in 2003. What is the product cost per unit? A. 2.23B. 2.21C. 1.89D. 1.87
1. XYZ has the following cost components for 100,000 units of product for the year: Raw Materials P 200,000 Direct Labor 100,000 Variable Manufacturing overhead 100,000 Fixed Manufacturing overhead 100,000 Variable Selling/administrative expenses 50,000 Fixed Selling/ administrative expenses 100,000 Total Costs 650,000 If XYZ produced and sold 110,000 units, how much would be its total costs? (Hint: compute for the unit cost) 1. P 650,000 2. P 715,000 3. P 695,000 4. P 540,000 O 1 O 2 O 4
VII. Polytech Inc. produces a laptop. The selling price per unit of the laptop is $500. Data for last year's operations follow: Sales (1,000 units) Variable manufacturing overhead Fixed selling and administrative costs 50,000 Direct materials used Direct labor Fixed manufacturing overhead 90,000 Variable selling and administrative 30,000 $500,000 120,000 100,000 60,000 Required: (1) Compute the total manufacturing cost of goods sold (2) Compute the contribution margin (3) Compute the gross margin or gross profit (4) Compute the operating income or loss (5) What is the company's break-even point in number of units sold? (6) What is the company's break-even point in $ sales?
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P410,000 c. P405,000 d. P 375,000 2. Antonio's total manufacturing cost is a. P460,000 b. P 645,000 . P 650,000 d. P 840,000
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense 1. What is Antonio's prime cost for last quarter? a. P 460,000 b. P 410,000 c. P 405,000 d. P 375,000 P 435,000 215,000 190,000 185,000
The Wes Company manufactures several different products. Unit costs associated with Product AGT210 are as follows: Direct materials $ 40 Direct manufacturing labour 8. Variable manufacturing overhead 12 Fixed manufacturing overhead 23 Sales commissions (2% of sales) 6. Administrative salaries Total $98 What are the inventoriable costs per unit associated with Product AGT210? Select one: C a. 48. O b. $66. $60 $83
The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct materials Manufacturing overhead Selling and administrative expense P 435,000 215,000 190,000 185,000 1. What is Antonio's prime cost for last quarter? a. P460,000 b. P 410,000 c. P 405,000 d. P375,000 2. Antonio's total manufacturing cost is P 460,000 b. P 645,000 P 650,000 d. a. C. P 840,000 3. Antonio's total period cost is P 185,000 b. a. P 275,000 P 400,000 d. с. P 620,000
The Love Manufacturing Company has the following financial information:· Manufacturing overhead P300,800· Direct materials increased by 130, 000· Work in process increased by 90, 000· Finished goods decreased by 320, 400Manufacturing overhead amounts to 50% of direct labor, and the direct labor and manufacturing overhead combined equal 50% of the total cost of manufacturing.How much is the cost of goods sold?