Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-13 (Algo) Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 3. If the selling price is $22.70 per unit, what is the contribution margin per unit? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Contribution margin per unit Answer is complete but not entirely correct. $ 9.50

Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-13 (Algo) Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 3. If the selling price is $22.70 per unit, what is the contribution margin per unit? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Contribution margin per unit Answer is complete but not entirely correct. $ 9.50

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Description: !Required informationThe Foundational 15 (Algo) [LO1-1, LO1₁-2, LO1-3, LO1-4, LO1-5, LO1-6][The following information applies to the questions displayed below.]Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it p

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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! Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-9 (Algo) Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 9. If 8,000 units are produced, what is the total fixed manufacturing cost incurred to support this level of production? Total fixed manufacturing cost
Requirea information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions. Variable administrative expense Foundational 1-9 (Algo) Average Cost per Unit $6.60 $4.10 $1.50 $ 4.00 $ 3.60 $ 2.00 $1.00 $0.50 9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production? Total fixed manufacturing cost
! Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-1 (Algo) Required: 1. For financial accounting purposes, what is the total product cost incurred to make 10,000 units? Note: Do not round intermediate calculations. Answer is complete and correct. Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 Total product cost $ 163,000
Required information. Cost Classifications (Algo) [The following information applies to the questions displayed below] Kubin Company's relevant range of production is 26,000 to 35,500 units. When it produces and sells 30,750 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $8.50 $5.60 $ 3.10 1. Total amount of product cost 2. Total amount of period cost 3. Total amount of product cost 4 Total amount of period cost $6.60 $5.10 $.4.10 $2.00 $2.10 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4] Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 30,750 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 30,750 units? 3. For…
es ! Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $ 6.50 $ 4.00 $ 1.60 $ 4700 $ 3.50 $ 2.20 $ 1.20 $ 0.45 Foundational 1-3 (Algo) 3. If 8,000 units are produced and sold, what is the variable cost per unit produced and sold? Note: Round your answer to 2 decimal places. Variable cost per unit sold S
! Required information Cost Classifications (Algo) [The following information applies to the questions displayed below.] Kubin Company's relevant range of production is 11,000 to 14,000 units. When it produces and sells 12,500 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $ 7.20 $4.20 $ 1.70 $5.20 $ 3.70 $2.70 $ 1.20 $ 0.70 Exercise 1-10 (Algo) Differential Costs and Sunk Costs [LO1-5] Required: 1. What is the incremental manufacturing cost incurred if the company increases production from 12,500 to 12,501 units? 2. What is the incremental cost incurred if the company increases production and sales from 12,500 to 12,501 units? 3. Assume Kubin Company produced 12,500 units and expects to sell 12,280 of them. If a new customer unexpectedly emerges and expresses interest in…
Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-11 (Algo) Average Cost Per Unit $6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 11. If 8,000 units are produced, what is the total manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per-unit basis? Note: Round your "per unit" answer to 2 decimal places. Total manufacturing overhead cost Manufacturing overhead per unit
Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions. Variable administrative expense Average Cost Per Unit $ 6.70 $ 4.20 Total direct manufacturing cost Total indirect manufacturing cost $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 Foundational 1-14 (Algo) 14. If 12,000 units are produced, what are the total direct and indirect manufacturing costs incurred to support this level of production? Note: Do not round intermediate calculations.
Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 Foundational 1-7 (Algo) 7. If 8,000 units are produced, what is the average fixed manufacturing cost per unit produced? Note: Round your answer to 2 decimal places. Average fixed manufacturing cost per unit
Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-4 (Algo) Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 $ 4.00 Variable cost per unit sold $ 3.70 $ 2.10 $ 1.10 $ 0.55 4. If 12,500 units are produced and sold, what is the variable cost per unit produced and sold? Note: Round your answer to 2 decimal places.
Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 Total variable cost $ 4.00 $ 3.70 $ 2.10 $ 1.10 $ 0.55 Foundational 1-6 (Algo) 6. If 12,500 units are produced and sold, what is the total variable cost of the units produced and sold? Note: Do not round intermediate calculations.
Required information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Foundational 1-2 (Algo) Average Cost Per Unit $ 6.70 $ 4.20 $ 1.40 Total period cost $4.00 $ 3.70 $2.10 $ 1.10 $ 0.55 2. For financial accounting purposes, what is the total period cost incurred to sell 10,000 units? Note: Do not round intermediate calculations.