Consider the following data for Magnimus Corporation. July August September Sales in units 4,000 4,200 4,800...
Consider the following data for Magnimus Corporation.
| July | August | September | |
| Sales in units | 4,000 | 4,200 | 4,800 |
| Sales revenue | $400,000 | $420,000 | $480,000 |
| Direct materials | 74,000 | 77,700 | 88,800 |
| Direct labour | 88,600 | 93,030 | 106,320 |
| Manufacturing overhead | 63,480 | 65,160 | 70,680 |
| Sales commission | 30,000 | 31,500 | 36,000 |
| Other selling expenses | 41,960 | 43,620 | 44,360 |
| Administrative expenses | 31,550 | 31,550 | 31,550 |
Required:
-
6–1
What is the average price per unit sold?
Homework Answers
Average price per unit sold = Total sales revenue / Total units sold
Average price per unit sold =( $400,000 + $420,000 + $480,000)/(4,000+4,200+4,800)
Average price per unit sold = $1,300,000 / 13,000
Average price per unit sold = $100
you can reach me over comment box, if you have any doubts. please rate this answer
Add Answer to:
Consider the following data for Magnimus Corporation.
July
August
September
Sales in units
4,000
4,200
4,800...
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour...
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,900 $ 429,000 77,610 89,895 61,980 25,350 44,720 36,550 August September 5,000 5,200 $ 550,000 $ 572,000 99,500 103,480 115,250 119,860 71,880 73,680 32,500 33,800 48,020 48,620 3 6,550 36,550 40 Required: Write the cost equation for administrative expenses. Y =
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour...
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 4,500 $ 495,000 82,800 100,350 62,330 29,250 40,970 32,800 August 5,200 $572,000 95,680 115,960 67.230 33,800 43,070 32,800 September 5,800 $638,000 106.720 129,340 71,430 37.700 44,870 32,800 Required: Write the cost equation for manufacturing overhead. Y
Consider the following data for Magnimus Corporation Sales in units Sales revenue Direct materials Direct labour...
Consider the following data for Magnimus Corporation Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,100 $ 356,500 59,210 70,215 69,480 21,700 44,620 34,550 August September 3,400 3,600 $ 391,000 $ 414,000 64,940 68,760 77,010 81,540 71.280 72,480 23,800 25,200 45,820 46,620 34,550 34,550 Required: Write the cost equation for direct materials. (Round your answer to 2 decimal places.) Y =
Hector Company reports the following: Sales Purchases July $28,000 17,640 August $36,000 22,680 September $40,000 28,000...
Hector Company reports the following: Sales Purchases July $28,000 17,640 August $36,000 22,680 September $40,000 28,000 Payments for purchases are made in the month after purchase. Selling expenses are 18% of sales, administrative expenses are 11% of sales, and both are paid in the month of sale. Rent expense of $2,600 is paid monthly. Depreciation expense is $1,700 per month. Prepare a schedule of budgeted cash payments for August and September. HECTOR COMPANY Budgeted Cash Payments For August and September...
Frankel Company Traditional Income Statement For the 3 months ending September 30, 2020 Sales in units...
Frankel Company Traditional Income Statement For the 3 months ending September 30, 2020 Sales in units July 4,000 August 4,500 September 5,000 Sales $ 400,000 $450,000 $500,000 Cost of goods sold 240,000 270,000 300,000 Gross Margin 160,000 180,000 200,000 Selling & Administrative Expenses: 2 Advertising 21,000 21,000 21,000 3 Shipping 34,000 36,000 38,000 4 Salaries and commissions 78,000 84,000 90,000 -5 Insurance 6,000 6,000 6,000 16 Depreciation 15,000 15 000 15,000 17 Total Selling & Administrative Expenses 154,000 162.000 170,000...
Pacific has forecast sales for the next three months as follows: July 4,000 units, August 6,000...
Pacific has forecast sales for the next three months as follows: July 4,000 units, August 6,000 units, September 7,500 units. Pacific's policy is to have an ending inventory of 40% of the next month's sales needs on hand. July 1 inventory is projected to be 1,500 units. Monthly costs are budgeted as follows: Fixed manufacturing costs $ 17,000 Fixed selling costs $ 10,000 Fixed administrative costs $ 8,300 Variable manufacturing costs $ 5 per unit produced Variable selling costs $...
Sales: Sales in Units (Masks) Selling Price per Mask JULY 222,000 7.75 AUGUST 290,000 SEPTEMBER 216,000...
Sales: Sales in Units (Masks) Selling Price per Mask JULY 222,000 7.75 AUGUST 290,000 SEPTEMBER 216,000 OCTOBER 165,000 NOVEMBER 197,000 $ Collections: Cash Collected in the Month of Sale Cash Collected in Following Month 70% 30% Finished Goods Inventory: Ending FG Inventory Requirement Beginning FG Inventory, July 1, 2020 20% of next month's unit sales 44,400 masks Raw Materials Inventory: Raw Materials Required per Mask Raw Materials Cost per Yard Ending RM Inventory Requirement Paid in Month of Purchase Paid...
Harrti Corporation has budgeted for the following sales: July $ 446,600 August $ 581,600 September $...
Harrti Corporation has budgeted for the following sales: July $ 446,600 August $ 581,600 September $ 615,800 October $ 890,800 November $ 738,000 December $ 698,000 Sales are collected as follows: 15% in the month of sale; 65% in the month following the sale; and the remaining 20% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
Tollins Company Data July August September Production in units &...
Tollins Company Data July August September Production in units 85,000 80,000 60,000 Sales in units 70,000 75,000 80,000 Inventory at July 1 5000 units at $16 each Selling price per unit $ 25 Variable manufacturing costs per unit $ 9 Variable selling and administrative costs per unit sold $ 6 6.5882353 $ 47 Fixed manufacturing overhead per month $ 560,000 Fixed selling and adminitrative expenses per month $ 200,000 Other information: Fixed overhead is...
Projected unit sales: June sales 120,000, July sales 130,000, August 140,000, September 150,000 and October sales...
Projected unit sales: June sales 120,000, July sales 130,000, August 140,000, September 150,000 and October sales 170,000. Sales price per unit, $15.00 Units in ending inventory each month should equal 10% of next month sales. Raw material required per unit is 2 pounds; cost is $3.00 per lb. Ending inventory required at the end of each month is 5% of next month needs. Direct labor required to produce one units is .25 direct labor hour. The hourly rate is $10.00....
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,900 $ 429,000 77,610 89,895 61,980 25,350 44,720 36,550 August September 5,000 5,200 $ 550,000 $ 572,000 99,500 103,480 115,250 119,860 71,880 73,680 32,500 33,800 48,020 48,620 3 6,550 36,550 40 Required: Write the cost equation for administrative expenses. Y =
Consider the following data for Magnimus Corporation. Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 4,500 $ 495,000 82,800 100,350 62,330 29,250 40,970 32,800 August 5,200 $572,000 95,680 115,960 67.230 33,800 43,070 32,800 September 5,800 $638,000 106.720 129,340 71,430 37.700 44,870 32,800 Required: Write the cost equation for manufacturing overhead. Y
Consider the following data for Magnimus Corporation Sales in units Sales revenue Direct materials Direct labour Manufacturing overhead Sales commission Other selling expenses Administrative expenses July 3,100 $ 356,500 59,210 70,215 69,480 21,700 44,620 34,550 August September 3,400 3,600 $ 391,000 $ 414,000 64,940 68,760 77,010 81,540 71.280 72,480 23,800 25,200 45,820 46,620 34,550 34,550 Required: Write the cost equation for direct materials. (Round your answer to 2 decimal places.) Y =
Hector Company reports the following: Sales Purchases July $28,000 17,640 August $36,000 22,680 September $40,000 28,000 Payments for purchases are made in the month after purchase. Selling expenses are 18% of sales, administrative expenses are 11% of sales, and both are paid in the month of sale. Rent expense of $2,600 is paid monthly. Depreciation expense is $1,700 per month. Prepare a schedule of budgeted cash payments for August and September. HECTOR COMPANY Budgeted Cash Payments For August and September...
Frankel Company Traditional Income Statement For the 3 months ending September 30, 2020 Sales in units July 4,000 August 4,500 September 5,000 Sales $ 400,000 $450,000 $500,000 Cost of goods sold 240,000 270,000 300,000 Gross Margin 160,000 180,000 200,000 Selling & Administrative Expenses: 2 Advertising 21,000 21,000 21,000 3 Shipping 34,000 36,000 38,000 4 Salaries and commissions 78,000 84,000 90,000 -5 Insurance 6,000 6,000 6,000 16 Depreciation 15,000 15 000 15,000 17 Total Selling & Administrative Expenses 154,000 162.000 170,000...
Sales: Sales in Units (Masks) Selling Price per Mask JULY 222,000 7.75 AUGUST 290,000 SEPTEMBER 216,000 OCTOBER 165,000 NOVEMBER 197,000 $ Collections: Cash Collected in the Month of Sale Cash Collected in Following Month 70% 30% Finished Goods Inventory: Ending FG Inventory Requirement Beginning FG Inventory, July 1, 2020 20% of next month's unit sales 44,400 masks Raw Materials Inventory: Raw Materials Required per Mask Raw Materials Cost per Yard Ending RM Inventory Requirement Paid in Month of Purchase Paid...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago