Miller Company's total sales are $126,000. The company's direct labor cost is $15, 120, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $18,900 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: What is the total manufacturing overhead cost? What is the total direct materials cost? What is the total manufacturing cost? What is the total variable selling and administrative cost? What is the total variable cost? What is the total fixed cost? What is the total contribution margin?

Miller Company's total sales are $126,000. The company's direct labor cost is $15, 120, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $18,900 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: What is the total manufacturing overhead cost? What is the total direct materials cost? What is the total manufacturing cost? What is the total variable selling and administrative cost? What is the total variable cost? What is the total fixed cost? What is the total contribution margin?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PA: The following product Costs are available for Haworth Company on the production of chairs: direct...

See similar textbooks

Similar questions

The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)
Miller Company’s total sales are $120,000. The company’s direct labor cost is $15,000, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $18,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs.Required:1. What is the total manufacturing overhead cost?2. What is the total direct materials cost?3. What is the total manufacturing cost?4. What is the total variable selling and administrative cost?5. What is the total variable cost?6. What is the total fixed cost?7. What is the total contribution margin?
Miller Company's total sales are $150,000. The company's direct labor cost is $18,000, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $22,500 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin? 1. Total manufacturing overhead cost 2. Total direct materials cost 3. Total manufacturing cost 4. Total variable selling and administrative cost 5. Total variable cost 6. Total fixed cost 7. Total contribution margin
Miller company's total sales are $120,000. The company's direct labor cost is $15,000, which represents 30% of its total conversion cost and 40% if its total prime cost. Its total selling and administrative expense is $18,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. What is the total manufacturing overhead cost?
Miller company's total sales are $120,000. The company's direct labor cost is $15,000, which represents 30% of its total conversion cost and 40% if its total prime cost. Its total selling and administrative expense is $18,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. What is the total manufacturing overhead cost? What is the total manufacturing overhead cost? What is the total direct materials cost? What is the total manufacturing cost? What is the total variable selling and administrative cost? What is the total variable cost? What is the total fixed cost? What is the total contribution margin?
Miller Company’s total sales are $198,000. The company’s direct labor cost is $23,760, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $29,700 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin?
San Clemente Inc. incurs the following costs to produce 10,000 units of a subcomponent: Direct materials $8,400 Direct labor 11,250 Variable overhead 12,600 Fixed overhead 16,200 An outside supplier has offered to sell San Clemente the subcomponent for $2.85 a unit. If San Clemente accepts the offer, by how much will net income increase (decrease)?
How i calcalate this problem? Dake Corporation's relevant range of activity is 2,200 units to 5,000 units. When it produces and sells 3,600 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 6.85 Direct labor $ 2.80 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 3.00 Fixed selling expense $ 0.90 Fixed administrative expense $ 0.60 Sales commissions $ 0.70 Variable administrative expense $ 0.60 If 2,600 units are produced, the total amount of indirect manufacturing cost incurred is closest to:
Assume that a company maintains no beginning or ending inventories and produces and sells 4,000 units of only one product for a price of $130 per unit. The company’s variable manufacturing costs per unit are $80 and its fixed manufacturing overhead per unit is $24. Its variable selling and administrative expense is $12 per unit and its fixed selling and administrative expense is $46,300. What is the company’s net operating income under absorption costing?
Spock Company incurs the following costs to produce and sell a single product. Variable costs per unit: Direct materials. $9 $10 Direct labor.. Variable manufacturing overhead.. Variable selling and administrative expenses.. Fixed costs per year: Fixed manufacturing overhead... Fixed selling and administrative expenses. $5 $3 $150,000 $40,000 Is the company using absorption costing or variable costing to cost units in the Finished Goods inventory account? Show computations to support your answer.
Sheddon Industries produces two products. The products' identified costs are as follows: Product A Product B Direct materials $20,000 $15,000 Direct labor $12,000 $24,000 The company's overhead costs of $108,000 are allocated based on direct labor cost. Assume 4,000 units of product A and 5,000 units of Product B are produced. What is the cost per unit for product B? (Do not round your intermediate calculations.)