FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Manufacturing Costs
Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.
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JART manufactures and sells underwater markers. Its contribution margin income statement follows. Contribution Margin Income Statement Per Unit $ 7.00 For Year Ended December 31 Sales (480,000 units) Variable costs Direct materials Direct labor Variable overhead Contribution margin Fixed costs Fixed overhead Fixed general and administrative Income 1.52 0.38 0.70 4.40 ● 0.30 0.20 $ 3.90 Required: 1. Compute income from the special offer. Annual Total $ 3,360,000 729,600 182,400 336,000 2,112,000 A potential customer offers to buy 58,000 units for $3.70 each. These sales would not affect the company's sales through its normal channels. Details about the special offer follow. 144,000 96,000 $ 1,872,000 • Direct materials cost per unit and variable overhead cost per unit would not change. • Direct labor cost per unit would be $0.56 because the offer would require overtime pay. Accepting the offer would require incremental fixed general and administrative costs of $5,800. Accepting the offer would require no incremental fixed overhead costs.
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Transcribed Image Text:JART manufactures and sells underwater markers. Its contribution margin income statement follows. Contribution Margin Income Statement Per Unit $ 7.00 For Year Ended December 31 Sales (480,000 units) Variable costs Direct materials Direct labor Variable overhead Contribution margin Fixed costs Fixed overhead Fixed general and administrative Income 1.52 0.38 0.70 4.40 ● 0.30 0.20 $ 3.90 Required: 1. Compute income from the special offer. Annual Total $ 3,360,000 729,600 182,400 336,000 2,112,000 A potential customer offers to buy 58,000 units for $3.70 each. These sales would not affect the company's sales through its normal channels. Details about the special offer follow. 144,000 96,000 $ 1,872,000 • Direct materials cost per unit and variable overhead cost per unit would not change. • Direct labor cost per unit would be $0.56 because the offer would require overtime pay. Accepting the offer would require incremental fixed general and administrative costs of $5,800. Accepting the offer would require no incremental fixed overhead costs.
Sales Variable costs Special Offer Analysis Direct materials Direct labor Variable overhead Contribution margin Fixed costs Fixed overhead Fixed general and administrative Income (loss) Per Unit 0.00 0.00 $ Total 0 0
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Transcribed Image Text:Sales Variable costs Special Offer Analysis Direct materials Direct labor Variable overhead Contribution margin Fixed costs Fixed overhead Fixed general and administrative Income (loss) Per Unit 0.00 0.00 $ Total 0 0
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