LL00LLLL%24Direct material: 4 pounds at $10.0e per poundDirect labor: 2 hours at $16 per hourVariable overhead: 2 hours at $6 per hour32.00Total standard variable cost per unitThe company also established the following cost formulas for its selling expenses:Fixed CostVariable Costper Month$ 270,000$ 240,000per Unit Sold.AdvertisingSales salaries and commissionsShipping expenses$19.00The planning budget for March was based on producing and selling 30,000 units. However, during March the companyactually produced and sold 34,500 units and incurred the following costs:a. Purchased 150,000 pounds of raw materials at a cost of $9.20 per pound. All of this material was used in production.b. Direct-laborers worked 62,000 hours at a rate of $17.00 per hour.c. Total variable manufacturing overhead for the month was $390,600.d. Total advertising, sales salaries and commissions, and shipping expenses were $280,0000, $490,000, and $185,000,respectively.Required:1. What raw materials cost would be included in the company's flexible budget for March?Raw materal cost1 215of 15Next >3.****e here to search日 eF3F4F5F7F11#V

Raw Material Cost = Number of Units x Cost per Unit

Answered: The planning budget for March was based…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

See similar textbooks

Similar questions

A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Pedregon Corporation has provided the following information: Variable manufacturing overhead Fixed manufacturing overhead O $5.70 $8.15 Sales commissions Varlable administrative expense Fixed selling and administrative expense $5,000 If the selling price is $21.60 per unit, the contribution margin per unit sold is closest to: O $3.90 Direct materials Direct labor O $10.70 * Previous Cost per Unit Cost per Period $7.10 $ 3.80 $1.35 $14,000 $0.55 $0.65
The chief executive officer of Acadia, Inc. attended a conference in which one of the sessions was devoted to variable costing. The CEO was impressed by the presentation and has asked that the following data of Acadia, Inc. be used to prepare comparative statements using variable costing and the company's absorption costing. The data follow: Direct materials... $ 90,000 Direct labor . 120,000 Variable factory overhead. 60,000 Fixed factory overhead. 150,000 Fixed marketing and administrative expense.. 180,000 The factory produced 80,000 units during the period, and 70,000 units were sold for $700,000. 1. Prepare an income statement using variable costing. 2. Prepare an income statement using absorption costing. (Round unit costs to three decimal places.)
Revenue Variable costs: Direct labor Direct materials Contribution margin Fixed costs Profit margin $0 O $10,000 ($25,000) ($10,000) product X $50,000 O $50,000 $20,000 $30,000 ? ? ? product Y $80,000 $30,000 $20,000 ? ? ? a total $130,000 The company allocates fixed costs based on direct labor dollars. Compute the profit margin for product line X. $50,000 $50,000 $30,000 $25,000 $5,000
Emeka Company has provided the following information: Sales price per unit $58 Variable cost per unit 18 Fixed costs per month $18,000 Calculate the contribution margin per unit. A. $40.00 B. $58.00 C. $18.00 D. $76.00
Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 5.00 $ 2.90 $ 1.25 $1.00 $ 0.55 Cost per Period $21,000 $7,500 If 4,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:
The following variable production costs apply to goods made by Walton Manufacturing Corporation: Cost per unit $10.00 Item Materials Labor 8.50 Variable overhead 1.20 Total $19.70 Required Determine the total variable production cost, assuming that Walton makes 9,000, 19,000, or 29,000 units. Units Produced 9,000 19,000 29,000 Total variable cost
Direct materials per unit Direct labor per unit Variable overhead per unit Variable selling and administrative expenses $80 per unit $60 per unit $25 per unit $50 per unit $100,000 Fixed overheads Fixed selling and administrative expenses $300,000 If the company produced and sold 50,000 units of Product M during the year, then the total period cost under variable costing would be: a. $8,250,000 b. $2,900,000 c. $2,800,000 d. $2,750,000
Sales volume (units) Revenue Variable costs Direct materials Direct labor Contribution margin Fixed costs Profit Product A 400 $60,000 Product B 600 $60,000 $25,000 $15,000 $10,000 $15,000 Total 1,000 $120,000 $40,000 $25,000 $25,000 $30,000 $55,000 $50,000 $5,000 Use direct labor dollars as the cost driver. Compute allocated fixed costs for Product A:
ing information: Cost per Cost per Unit Period Direct materials $ 4.80 $ 3.80 $ 1.50 Direct labor Variable manufacturing overhead Fixed manufacturing overhead $ 10,800 Sales commissions $ 1.80 $ 0.60 Variable administrative expense Fixed selling and administrative expense $ 6,800 If 4,000 units are sold, the total variable cost is closest to:
Average Cost per Unit $ 7.00 $ 4.00 $ 1.50 $ 5.00 $ 3.50 $ 2.50 $ 1.00 $ 0.50 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. For financial accounting purposes, what is the total amount of perlod costs incurred to sell 20,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 22,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 18,000 units? 1. Total amount of product costs 2. Total amount of period costs incurred 3. Total amount of product costs 4. Total amount of period costs
The following variable production costs apply to goods made by Zachary Manufacturing Corporation: Item Cost per unit $ 6.00 Materials Labor Variable overhead 6.00 1. 20 Total $13. 20 Skipped Required Determine the total variable production cost, assuming that Zachary makes 14,000, 24,000, or 34,000 units. Units Produced 14,000 24,000 34,000 Total variable cost

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS