(20 Eastorn Droams Lid manufachures a single product The bodgetod sales and production for Yoar 2021 is 10,000 units per month over the 1months The standard selling price and costs of the product are RM RM Seling Price Materials - 2 kg Labour-3 hours 50 16 6. 12 Varlable Production Overhead -3 hours 10 34 11 Total Variable Cost 16 12 Contribution The actual results for the month were 9,500 units RM494,000 RM167,960 RM114,513 RM61,446 Production and sales Sales Materials-19,760 kg Wages - 27,930 hours Variable Production Overhead Required

(20 Eastorn Droams Lid manufachures a single product The bodgetod sales and production for Yoar 2021 is 10,000 units per month over the 1months The standard selling price and costs of the product are RM RM Seling Price Materials - 2 kg Labour-3 hours 50 16 6. 12 Varlable Production Overhead -3 hours 10 34 11 Total Variable Cost 16 12 Contribution The actual results for the month were 9,500 units RM494,000 RM167,960 RM114,513 RM61,446 Production and sales Sales Materials-19,760 kg Wages - 27,930 hours Variable Production Overhead Required

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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q9
1. If the sales mix changes to 5,000 units of Product A and 5,000 units of Product B, the effect on the company’s break-even point will ____ units,
QUESTION 1 Nice2022 Limited is a company producing and selling plastic products. Sales price per unit is RM20.00. Below is the information on the production and sales of the product for 2021: Cost per unit: RM Direct material 0.90 Direct labour 2.50 Variable overhead 0.50 Fixed overhead 0.50 Other costs: RM Variable selling expenses 5% from total sales Fixed selling expenses 25,000 Fixed administration expenses 15,000 Unit Unit produced, sold and stock: Sales 130,000 Opening stock Production 10,000 150,000 Additional information: ● Budgeted fixed overhead amounted to RM105,000 . Budgeted production are 175,000 units You are required to: a) Calculate the over/under absorbed of overhead. b) Prepare the statement of profit and loss using the absorption costing format. c) Show the marginal profit/loss by preparing the profit reconciliation statement
Brick lane Co. produces two products: Camden and Chelsea. Camden Chelsea Direct Materials 2 3 Direct labor (2 per hour) 8 2 Variable overhead 1 1 11 6 The sale price per unit is $ 13 per Camden and 11 $ per Chelsea. In August 2022, the available direct labor is limited to 7,000 hours. Salas demand in July is expected to be 4,000 for Camden and 6,000 united for Chelsea. Required: Determine the profit product mix for Brick lance Co. assuming that Monthly fixed costs are $15,000 and that opening inventory of finished goods and work in progress are nil.
sales per unit $15 $100 variable expenses per unit $9 $20 units sold annualy 20,000 5,000 Hawaiian Tahitian Joy Fantasy 15 Selling price per unit Variable expense per unit Number of units sold annually $ 100 20 5,000 20,000 Fixed expenses total $475,800 per year. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the company as a whole
Selling price $215 $230 Direct materials (pounds) 23,000 25,000 Direct materials costs per pound $30 $32 Manufacturing capacity for CM5 (units) 11,000 11,000 Conversion costs (fixed costs) $770,000 $803,000 Conversion costs per unit of capacity $70 $73 Manufacturing conversion costs in each year depend on production capacity defined in terms of CM5 units that can be produced. Required: What is the net effect on operating income as a result of the growth component? $51,000 $116,800 $112,000 $166,000
Question No. 1-1 The HASF Company has an annual plant capacity of 50,000 units. Predicted data on sales and costs are given below. Sales (50 per unit) 1,000,000 Manufacturing cost Variable (material labor and overhead) 40 per unit Fixed overhead 30,000 Selling and administrative expenses Variable (sales commission RS 0.5 per unit) 2 per unit Fixed 7,000 A special order has been received from outside for 5,000 units at a selling price of 45 per unit this order will no effect on regular sales. The usual sales commission on this order will be reduced by one half. Required: Should the company accept / reject the order? Keeping in view the above answer narrate rationale to support your answer
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20. Sparkle Jewelry sells 600 units resulting in $75,000 of sales revenue, $32,000 of variable costs, and $26,000 of fixed costs. Breakeven points in units is? a. 447 units b. 684 units c. 810 units d. 363 units
10 In July, TPM Co. incurred total costs of $60,000 and made 6000 units. In December it produced 4000 units and total costs were $40,000. What is the variable cost per unit? a. S12.00 b. $15.00 c. S10.00 d. $8.00
Selling price Materials cost GH¢20 per unit 3 kg per unit at GH¢2.5 per kg 0.6 hours per unit at GH¢4 GH¢1.2 per unit Labor cost Direct expenses Sales in May, June and July, 2021 are forecast to be 12,000 units in cach of the three months. As a direct result of marketing expenditure of GH¢8,000 in August 2021, sales are expected to be 11,000 units in August 2021, and to increase by 10% in cach month from September to December, 2021. Sales after December 202i are expected to remain at the December 2021 level. From business history, the management of Comfort Ltd has determined the following to be the pattern by which sales revenues are received: Twenty-five percent (25%) of sales are received in the month during which the sales occur; 30% of sales are received in one month following the month of sale; 30% of sales are received in two months following the month of sale; and 12% of sales are received in the third month following the month of sale. The remaining percentage of sales revenue…
Q.4 Standard cost systems provide companies with a number of advantages, argue the statement. Following are the details of Abbass Industries for the period ended June 30, 2020. Company establish standard on its normal capacity of 120,000 units/hours in a year: Direct Material 600,000 kgs at Rs. 9 per kg Direct Labor 4 hours per unit at Rs. 6 per hour Factory overhead: Fixed cost Rs. 240,000 per year or Rs. 20,000 per month. Variable Cost Rs. 4.50 per hour. During the one month of operation, company produced 11,000 units. Direct material used: 60,500 kgs at Rs. 9.10 per kg Direct labor used:…