PROBLEM 2-18 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behavior [LO2,LO3, LO4, LO5, LO6]Various cost and sales data for Meriwell Company for the just completed year appear in the work-sheet below:E Hicrosoft ExcelEle Edt Vew rcert Fgrmat Iools Rata Wndow elp12- BIU2E17B$20,000$40,000$110,000$105,000$125,000$9,000$6,000$70,000S17,000$30,000$500,000S80,000A1 Finished goods inventory, beginning2 Finished goods inventory, ending3 Administrative expenses4 Manufacturing overhead5 Purchases of raw materials6 Raw materials inventory, beginning7 Raw materials inventory, ending8 Direct labor9 Work in process inventory, beginning10 Work in process inventory, ending11 Sales12 Selling expenses13N MSheeti/Sheet2 / Sheets /Of the $105,000 of manufacturing overhead, $15,000 is variable and $90,000 is fixed.Required:1. Prepare a schedule of cost of goods manufactured.2. Prepare an income statement.3. Assume that the company produced the equivalent of 10,000 units of product during thejust completed. What was the average cost per unit for direct materials? What was the averagecost per unit for fixed manufacturing overhead?4. Assume that the company expects to produce 15,000 units of product during the coming year.What average cost per unit and what total cost would you expect the company to incur fordirect materials at this level of activity? For fixed manufacturing overhead? Assume that directmaterials is a variable cost.As the manager responsible for production costs, explain to the president any difference in theaverage costs per unit between (3) and (4) above.уcar5.

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Microsoft Excel Ele Edit New Insert Format Tools Date Window Help ✔n. Σ 100% BIUR E%-A- E17 A B 1 Finished goods inventory, beginning $20,000 2 Finished goods inventory, ending $40,000 3 Administrative expenses $110,000 4 Manufacturing overhead $105,000 5 Purchases of raw materials $125,000 $9,000 6 Raw materials inventory, beginning 7 Raw materials inventory, ending Direct labor $6,000 8 $70,000 $17,000 9 Work in process inventory, beginning 10 Work in process inventory, ending 11 Sales $30,000 $500,000 12 Selling expenses $80,000 GD f x

Microsoft Excel Ele Edit New Insert Format Tools Date Window Help ✔n. Σ 100% BIUR E%-A- E17 A B 1 Finished goods inventory, beginning $20,000 2 Finished goods inventory, ending $40,000 3 Administrative expenses $110,000 4 Manufacturing overhead $105,000 5 Purchases of raw materials $125,000 $9,000 6 Raw materials inventory, beginning 7 Raw materials inventory, ending Direct labor $6,000 8 $70,000 $17,000 9 Work in process inventory, beginning 10 Work in process inventory, ending 11 Sales $30,000 $500,000 12 Selling expenses $80,000 GD f x

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...

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PROBLEM 14: MMM Company started operations in 2019. The following data are abstractedfrom the company’s production and sales records: 2019 2020 2021 Number of units produced 120,000 116,250 101,250 Number of units sold 75,000 108,750 97,500 Unit production cost P 4.50 P 5.20 P 5.80 Sales revenue 600,000 900,000 975,000 Using the FIFO cost flow assumption, the gross profit for the year ended December 31, 2021 is:
Problem 11-5 (IAA) Pro Tragie Company provided the following data for purchases and sales: Sla rela Purchases Unit cost Sales Revenue Ja. Ag Units Cost Units 250,000 540,000 1,125,000 4,000 7,000 12,000 280,000 630,000 1,200,000 50 2018 2019 2020 5,000 9,000 15,000 75 Required: Compute the gross income for 2020 assuming a FIFO cost formula.
Problem: AAA Company produces and sells Product X: Annual Demand 24,000 units Annual cost to held one unit of inventory P11.52 Order Cost P38.40 Beg. Inventory P 0 a. What is the Economic Order Quantity? b. How much is the total Order Costs? c. How much is the total Carrying Costs?
Question17 Given the information shown below, what are the costs for the production labor category for the weekly sales estimate level of $20,000? Labor Category Management 10.0% Service % Cost to Production 15.0% Sanitation Total Sales Total 3.0% 3.0% 31.0% Weekly Sales Estimate $19,000 $20,000 $21,000 ??? 0,000. Т.
G 1. Compute the companys deg X Connect tent A https://ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser=0&l Saved napter 05 Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (9,600 units at $225 each) Variable costs (9,600 units at $180 each) Contribution margin Fixed costs $2,160,000 1,728,000 $432,000 324,000 Pretax income $ 108,000 1. Compute the company's degree of operating leverage for 2019. 2. If sales decrease by 5% in 2020, what will be the company's pretax income? 3. Assume sales for 2020 decrease by 5%. Prepare a contribution margin income statement for 2020. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the company's degree of operating leverage for 2019. Degree of operating leverage 3.0 ост 20 W
ouTube Maps er 1 i 05 K ces Mc Graw MU Problem 1-21 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Marwick's Planos, Incorporated, purchases planos from a large manufacturer for an average cost of $1,492 per unit and then sells them to retall customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below. Costs Selling: Advertising Sales salaries and commissions. Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: 9°F ain showers Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Planos, Incorporated, sold and delivered 62 planos. Required 1 Required 2 Cost Formula Required: 1. Prepare a traditional format Income statement for August. 2. Prepare a contribution format Income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. $933 per month $4,790…
Given that the cost of goods completed was $57 000, sales $80 000, finished goods at start $3 200 and finished goods at the end of the period $1 595, what will be the gross profit? A. $19 800B. $21 395C. $23 000 D. $24 595
What are the product costs per unit associated with Product DCT121? A) $137 B) $140 C) $143 D) $88
uols A moodle1.du.edu.om Prime cost is 236000 OMR, and cost of production for the year is 355000 OMR Opening stock of work in progress is 4000, and closing stock of Work in progress is 5000 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Cost of goods manufactured 358500 OMR Calculate cost of goods available for sale Select one: a. None of these O b. 395000 OMR O c. 385500 OMR O d. 378500 OMR Previous page Next page ASSIGNMENT 1 Jump to... Quiz navigation 200 1 2 3 5 6 7 8 || 9 4. II
Exercise 18 -8 (Static) Computing missing amounts in contribution margin income statements LO A1 Compute the missing amounts in the contribution income statement shown below: (Round "Per Unit" answers to 2 decimal places.) \table[[Number of units sold, Company A, Company B], [,,,, 1,975, ], [,, otal,,unit, Total, Per unit], [Sales, $, 208, 000, $, 65.00,, ], [Variable costs,, 150, 400,,, 39, 500, ], [Contribution margin,,,,, 43, 450, ], [Fixed costs,,,,,19, 750, ], [ Income, $, 46, 400,,,,]]
Question-2 REQUIRED Use the information given below to prepare the Income statement of Kendall Manufacturers for October 2023 using the following methods: 2.1 Marginal costing 2.2 Absorption costing INFORMATION The following information was provided by Kendall Manufacturers for the only product produced during October 2023: Opening inventory Number of units manufactured Sales Selling price per unit Variable manufacturing costs per unit Fixed manufacturing overhead cost Variable selling cost per unit Fixed selling cost Fixed administrative cost Nil 5 000 R4 200 000 R1 000 R425 R325 000 R80 R175 000 R200 000