Compute the missing amounts in the contribution income statement shown below: lote: Round "Per Unit" answers to 2 decimal places.
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- Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.Use the following information: Department Cost Percentage Service Provided to S1 S2 P1 P2 Service 1 (S1) $ 118,000 0% 45% 35% 20% Service 2 (S2) 50,000 20 0 20 60 Production 1 (P1) 405,000 Production 2 (P2) 276,000 Total $ 849,000 a. What percentage of S1’s costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) b. What percentage of S2’s costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fraction.) Question 2. The following information relates to a joint production process for three products, with a total joint production cost of $175,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Off Units at Split-Off 1 $ 227,500 680 2 87,500 1,020 3 35,000 1,700 $ 350,000 3,400 a. What percentage of joint cost is allocated to each of the three products using the…Restate the following income statement in contribution margin format. (Round answers to 2 decimal places, e.g. 15.25 or 15.25%.) Sales ($59 per unit) $ 8,260.00 Less cost of goods sold ($40 per unit) 5,600.00 Gross margin 2,660.00 Less operating expenses: Salaries $839.00 Advertising 450.00 Shipping ($1.14 per unit) 159.60 1,448.60 Operating income $ 1,211.40 PER UNIT RATIO Select an income statement item $Enter a dollar amount $Enter a dollar amount enter percentages % Select between addition and deduction Select an opening name for section one : Select an income statement item $Enter a dollar amount…
- T3-7 Variable costing versus absorption costing (LO 1, 2) The following data were prepared by the Waco Wagon Company. Total Variable Fixed Sales price $20/unit Direct materials used $ 90,000 Direct labor $ 99,000 Manufacturing overhead $ 90,000 $ 9,000 $81,000 Selling and administrative expense $ 23,000 $14,000 $ 9,000 Units manufactured 18,000 units Beginning Finished Goods Inventory 20,000 units Ending Finished Goods Inventory 24,000 units Required a.Under absorption costing, what is the unit product cost? b.Under variable costing, what is the unit product cost? c.Under absorption costing, what is the cost of goods sold? d.Under variable costing, what is the cost of goods sold? e.Under absorption costing, what is the operating income? f.Under variable costing, what is the operating income? g.Reconcile the difference in operating income under absorption costing versus variable costing.3)Some cost information of the enterprise, which calculates its costs according to the Standard Cost Method, is as follows.Total Budgeted Fixed General Production Expenses = 2.000.-₺Unit Budgeted Variable General Production Expense = 1,10.-₺/brTotal Actual Direct Labor Hours = 1.500 DİSTotal Standard Direct Labor Hours = 1.300 DISRequested: Calculate the “Efficiency Difference of General Production Costs”. A. 120.-₺ positiveB. 320.-₺ negativeC. 120.-₺ negativeD. 320.-₺ positiveE. 220.-₺ negativeF. 220.-₺ positiveT3-6 Variable versus absorption costing (LO 1, 2) Regal Printing, Inc., prints and binds encyclopedias. The following information was found in the accounting records: Sales price per unit $ 103 Direct materials per unit $ 50 Direct labor per unit $ 16 Variable overhead per unit $ 10 Fixed overhead per unit $ 23 Fixed selling costs $ 55,000 Variable selling costs $180,000 Beginning inventory 0 Units produced 100,000 Units sold 90,000 Questions a.Under absorption costing, what is Regal's operating income? b.Under variable costing, what is Regal's ending Finished Goods Inventory balance?
- 10. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL VARIABLE MANUFACTURING COSTS?MC Qu. 8-30 Falisari Corporation has computed the following... Falisari Corporation has computed the following unit costs for the year just ended: Direct material used $ 22 Direct labor 19 Variable manufacturing overhead 37 Fixed manufacturing overhead 39 Variable selling and administrative cost 17 Fixed selling and administrative cost 30 Which of the following choices correctly depicts the per-unit cost of inventory under variable costing and absorption costing? Variable Costing Absorption Costing A. $ 78 $ 117 B. $ 78 $ 147 C. $ 95 $ 117 D. $ 95 $ 147 E. None of the answers is correct. Multiple Choice Choice A Choice B Choice C Choice D Choice EYu.7.Required information [The following information applies to the questions displayed below.] Hudson Company reports the following contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (11,600 units at $225 each) Variable costs (11,600 units at $180 each) Contribution margin. Fixed costs Income 1. Compute break-even point in units. 2. Compute break-even point in sales dollars. 1. Break-even units 2. Break-even sales dollars units $ 2,610,000 2,088,000 522,000 315,000 $ 207,000
- Percentage Service Provided to Department Cost S1 S2 P1 P2 Service 1 (S1) $ 122,000 0 % 40 % 40 % 20 % Service 2 (S2) 54,000 25 0 25 50 Production 1 (P1) 445,000 Production 2 (P2) 316,000 Total $ 937,000 What percentage of S1’s costs is allocated to P1 and to P2 under the direct method?Q3. The information below was derived from the 2018 records of HCS Company: Month Units Produced Total Cost (SAR) May 4,350 44,200 June 4,700 44,700 July 5,000 45,000 August 5,400 45,400 September 5,650 47,500 October 5,900 57,150 November 3,450 40,000 December 4,100 40,600 Using the high-low method of analysis, calculate Variable cost Fixed cost, and Determine a cost function.Question A21 Alders Ltd use an absorption costing and have calculated an overhead absorption rate based on units of output. The following information is relevant to the last quarter: Budgeted overhead was £231,000 Actual overhead was £235,000 Actual output was 11,000 units Budgeted output was 10,500 units What was the level of under or over absorption in the last quarter? A £7,000 over absorbed B £4,000 under absorbed C £4,000 over absorbed D £7,000 under absorbed
