Homework Answers
Ans.
| TOTAL FINANCIAL COST FOR PRODUCTION OF 25250 UNITS amt. in $ | ||||||||
| RATE | UNITS | TOTAL | UNITS | TOTAL | ||||
| direct material | 8.30 | 25250 | 209575 | 209575 | 27250 | 226175 | ||
| direct labour | 5.30 | 25250 | 133825 | 133825 | 27250 | 144425 | ||
| variable mfg overhead | 2.80 | 25250 | 70700 | 70700 | 27250 | 76300 | ||
| fixed mfg overhead | 6.30 | 25250 | 159075 | 159075 | 27250 | 159075 | ||
| variable adm exp. | 1.80 | 25250 | 45450 | 45450 | 27250 | 49050 | ||
| TOTAL PRODUCT COST | 618625 | 655025 | ||||||
| fixed selling exp. | 4.80 | 25250 | 121200 | 27250 | 121200 | |||
| fixed adm exp. | 3.80 | 25250 | 95950 | 27250 | 95950 | |||
| sales commission | 2.30 | 25250 | 58075 | 27250 | 62675 | |||
| TOTAL PERIODIC COST | 893850 | 934850 | ||||||
| NOTE: PRODUCT COST WILL NOT INCLUDE SELLING, ADM EXP AND SALES COMMISSION | ||||||||
| NOTE: TOTAL COST IS EQUAL TO PERIODIC COST FOR FINANCIAL REPORTING. | ||||||||
| NOTE: FIXED COST WILL REMAIN THE SAME FOR 25250 UNITS OR 27250 UNITS | ||||||||
| NOTE: SALES COMMISSION WILL CHANGE AS PER QTY & RATE. | ||||||||
Ans. A: product cost for 25250 unit is $618625.
Ans. B: total amount of periodic cost for 25250 units are $893850
Ans. C: product cost for 27500 unit is $655025.
Ans. B: total amount of periodic cost for 27500 units are $934850
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