The controller at Wesson Company's manufacturing plant has provided you with the following information for the first quarter's operations: Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold during the quarter Variable marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. $ 104 per unit $ 2,420,000 $ 485 per unit $ 45 per unit $ 62 per unit $ 278,000 45,000 $4 per unit

Nevada Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate 3.00 per ounce 6.4 ounces 0.4 hours 0.4 hours $ $ 13.00 per hour S 5.00 per hour The company reported the following results concerning this product in March. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Direct materials Direct labor Variable overhead Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate O $3,136 F O $3,260 F S S S O $3,136 U O $3,260 U Standard Cost Per Unit S S S 4,800 units 4,900 units 30,230 ounces 1,910 hours. 32,600 ounces 2.90 per ounce 12.40 per hour 4.90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for March is: 19.20 5.20 2.00

The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability:     Labor-Hours Required(hours/unit)   Department Product 1 Product 2 Hours Available A 1.00 0.35 95     B 0.30 0.20 36     C 0.20 0.50 50     Profit contribution/unit $30.00 $15.00           (a) Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of products 1 and 2.   If required, round your answer to two decimal places.     Product 1 Product 2 Production     (b) In computing the profit contribution per unit, management does not deduct labor costs because they are considered fixed for the upcoming planning period. However, suppose that overtime can be scheduled in some of the departments. Which departments would you recommend scheduling for…

Mission Company is preparing its annual profit plan. As part of its analysis of the profitability of individual products, the controller estimates the amount of overhead that should be allocated to the individual product lines from the information provided below (CMA adapted) Units produced Material moves per product line. Direct labor-hours per product line Budgeted material handling costs: $644,000 Wall Mirrors Specialty Windows 220 20 5 1,100 60 1,200 Under a traditional costing system that allocates overhead on the basis of direct labor-hours, the materials handling costs allocated to one unit of Specialty Windows would be Multiple Choice O $16.800 $54,900 $14,000 $22.700

Computed the total cost that would be incurred during a month with a production level of 12,000 units and sales level of 8,000 units. please show the solution thanks

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A company has two products A and B. The budgeted fixed manufacturing overhead is $10,000. It is expected to work in full capacity. It plans to use cost-based pricing by using the absorption method. Assume the company can produce and sell 1,000 units Product A and 1,000 units Product B.   Product A  Product B Direct Labor $1 $3 Direct Materials  $3 $2 Variable Manufacturing Overhead $2 $1 Budgeted labor hours used for each unit product 1 4 Budgeted machine hours used for each unit product 3 1 Sale Demand 1000units 1000units Required ROI Rate 10% 5% Required Investment $5000 $30000 Fixed Selling Expenses $2000 $4000 Unit Variable Selling Expenses $1 $2 If allocating fixed manufacturing overhead based on machine hour basis, calculate the sale price of products A and B and budgeted profit of products A and B.

Lindquist Company has the following information for February: Line Item Description Amount Sales $370,000 Variable cost of goods sold 173,900 Fixed manufacturing costs 55,500 Variable selling and administrative expenses 40,700 Fixed selling and administrative expenses 22,200 Determine the following for Lindquist Company for the month of February: Line Item Description Amount a.  Manufacturing margin $fill in the blank 1 b.  Contribution margin $fill in the blank 2 c.  Operating income $fill in the blank 3