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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:4. Total period cost
Problem 7
P 200 per unit
Sales price
Fixed costs:
Marketing and administrative
Manufacturing overhead
Variable costs:
Marketing and administrative
Manufacturing overhead
24,000 per period
30,000 per period
6 per unit
9 per unit
30 per unit
60 per unit
1,200 per period
Direct labor
Direct materials
Units produced and sold
Required: Compute for the followirtg
1. Variable manufacturing cost per unit
2. Variable cost per unit
3. Full manufacturing cost per unit
4. Full cost to make and Sell per unit
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- Question 13?arrow_forwardA department of Delta Company incurred the following costs for the month of June. Variable costs, and the variable portion of mixed costs, are a function of the number of units of activity: Activity level in units Variable costs Fixed costs Mixed costs Total costs 4,000 $ 8,200 32,000 15,940 $56,140 During July, the activity level was 9.200 units, and the total costs incurred were $68.500. Required: a. Calculate the variable costs, fixed costs, and mixed costs incurred during July b. Use the high-low method to calculate the cost formula for mixed cost. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the variable costs, fixed costs, and mixed costs incurred during July. July Variable cost Fixed cost Mixed cost Darrow_forwardDon't give answer in image formatarrow_forward
- pvn.1arrow_forwardExercise 19-9 (Algo) Absorption costing and variable costing income statements LO P2 Rey Company’s only product sells for $235 per unit. Data for its first year of operations follow. Direct materials $ 39 per unit Direct labor $ 47 per unit Variable overhead $ 5 per unit Fixed overhead $ 168,000 per year Variable selling and administrative expenses $ 37 per unit Fixed selling and administrative expenses $ 238,000 per year Units produced and sold 24,000 units 1. Prepare an income statement for the year using absorption costing2. Prepare an income statement for the year using variable costing.arrow_forwardhrd.3arrow_forward
- Green and White Company reported the following monthly data: Units produced Sales price Direct materials Direct labor Variable overhead Fixed overhead What is Green and White's contribution margin for this month if 1,090 units were sold? Multiple Choice O $74,400 $26,160 $32,700 3,100 units $ 30 per unit $ 1 per unit $ 2 per unit $ 3 per unit $ 12,400 in total $93,000arrow_forwardSaharrow_forwardWhat is another way of saying "Interest earned on interest"?arrow_forward
- Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit cost Cost per Unit $ 32.50 13.00 19.50 26.00 $91.00 An outside supplier has offered to provide Cotton with the 10,000 subcomponents at an $84.50 per-unit price. No portion of fixed overhead is avoidable. If Cotton accepts the outside offer, what will be the effect on short-term profits?arrow_forwardQUESTION 7 Quiet Corp. currently makes 2000 subcomponents a year in one of its factories. The unit costs to produce are: Description Per unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $4 4 2 IMI An outside supplier has offered to provide Quiet Corp. with the 2000 subcomponents at a $17 per unit price. Fixed overhead is not avoidable. If Quiet Corp. decides to buy from the outside supplier, the impact to net income will be ? If positive, enter the number, if negative, place a-sign before your numberarrow_forwardQUESTION 4 (S) 20 Direct material cost: ($) 20 Direct labor cost: 10 The following anticipated data are for the next year of operations: Per unit Variable production overhead 10 Variable nonproduction overhead 5 They are estimated the fixed production overhead; fixed nonproduction overhead of 5'mil 0.9 and 5'mil 0.1 respectively. There is no opening inventory; budgeted production and sales volume is 120,000 units. Requirements: 1. Compute product cost under absorption costing and unit selling price if the markup percentage is 50% of product cost. 2. If the company want to achieve target net income of $'mil 3.6, how many percentages of margin on variable cost should be appliedarrow_forward
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