Homework Help Question & Answers

4-52 Review of Chapters 2, 3, and 4 Kyu Lee Corporation provides you with the following...



4-52 Review of Chapters 2, 3, and 4 Kyu Lee Corporation provides you with the following miscellaneous data regarding operatio
4-52 Review of Chapters 2, 3, and 4 Kyu Lee Corporation provides you with the following miscellaneous data regarding operations for 20X0 (in thousands of South Korean won, w): Break-even point in sales W 84,000 Direct material used 29,000 Gross profit Contribution margin 20,000 25,000 30,000 Direct labor 100,000 Sales 5,000 Variable manufacturing overhead There are no beginning or ending inventories. Compute (a) the fixed manufacturing overhead, (b) variable selling and administrative expenses, and (c) fixed selling and administrative expenses.
0 0
Report
Answer #1

a.

Cost of goods sold = Direct material+direct labor+variable manufacturing overhead+Fixed manufacturing overhead

Cost of goods sold = Sales - Gross profit

Cost of goods sold = 100,000 - 20,000 = 80,000

$80,000 = 29,000+30,000+5,000+Fixed manufacturing overhead

Fixed manufacturing overhead = 80,000-29,000-30,000-5,000 = 16,000

b.

Contribution margin = Sales - Total variable cost

Total variable cost = $100,000 - 25,000 = $75,000

Variable selling and administrative expenses = $75,000 - 5,000 = $70,000

c.

Break even point in sales = Total fixed cost / Contribution margin ratio

Contribution margin ratio = Contribution/sales*100

Contribution margin ratio = $25,000/100,000*100 = 25%

Total fixed cost = 84,000*25% = 21,000

Fixed selling and administrative expenses = 21,000-16,000 = 5,000

Know the answer?
Add Answer to:
4-52 Review of Chapters 2, 3, and 4 Kyu Lee Corporation provides you with the following...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The Kyu Lee provides you with the following miscellaneous data regarding operations in 20X0 (in thousands...

    The Kyu Lee provides you with the following miscellaneous data regarding operations in 20X0 (in thousands of South Korean won, ₩): Break-even point in sales ₩ 40,000 Direct material used   29,000 Gross Profit   20,000 Contribution Margin     25,000 Direct Labour     30,000 Sales 100,000 Variable manufacturing overhead       5,000 There are no beginning or ending inventories Compute (a) the fixed manufacturing overhead (b) variable selling and administrative expenses and (c) fixed selling and administrative expenses

  • The Dogri Company provides you with the following miscellaneous data regarding operations in 20X9: (Click the...

    The Dogri Company provides you with the following miscellaneous data regarding operations in 20X9: (Click the icon to view the data.) Requirements Compute (a) variable selling and administrative expenses, (b) contribution margin in dollars, (c) variable manufacturing overhead, (d) break-even point in sales dollars, and (e) manufacturing cost of goods sold. Complete the income statement to solve for (a) variable selling and administrative expenses, (c) variable manufacturing overhead, and (e) manufacturing cost of goods sold. Data Table Cost of goods...

  • The Sharma Company provides you with the following miscellaneous data regarding operations in 20X9: Gross profit...

    The Sharma Company provides you with the following miscellaneous data regarding operations in 20X9: Gross profit $40,000 Net profit 15,000 Sales 120,000 Direct material used 35,000 Direct labor 25,000 Fixed manufacturing overhead 15,000 Fixed selling and administrative expenses 12,000 There are no beginning or ending inventories. Compute (a) variable selling and administrative expenses (b) contribution margin in dollars (c) variable manufacturing overhead (d) break-even point in sales dollars (e) manufacturing cost of goods sold.

  • The Sharma Company provides you with the following miscellaneous data regarding operations in 20X9: Gross profit...

    The Sharma Company provides you with the following miscellaneous data regarding operations in 20X9: Gross profit $40,000 Net profit 15,000 Sales 120,000 Direct material used 35,000 Direct labor 25,000 Fixed manufacturing overhead 15,000 Fixed selling and administrative expenses 12,000 There are no beginning or ending inventories. Compute (a) variable selling and administrative expenses (b) contribution margin in dollars (c) variable manufacturing overhead (d) break-even point in sales dollars (e) manufacturing cost of goods sold.

  • Homework: Chapter 4 Homework Score: 0 of 1 pt 6 of 6 (3 complete) 4-51 (similar...

    Homework: Chapter 4 Homework Score: 0 of 1 pt 6 of 6 (3 complete) 4-51 (similar to) The Kashmir Company provides you with the following miscellaneous data regarding operations in 20X9: (Click the icon to view the data.) Requirements Compute (a) variable selling and administrative expenses, (b) contribution margin in dollars, (c) variable manufacturing overhead, (d) break-even point in sales dollars, and (e) manufacturing cost of goods sold. Complete the income statement to solve for (a) variable selling and administrative...

  • MANAGERIAL ACCOUNTING HANDOUT PROBLEM 7 Score Name Section Problem (10 points). Triangle Corporation manufactures two way...

    MANAGERIAL ACCOUNTING HANDOUT PROBLEM 7 Score Name Section Problem (10 points). Triangle Corporation manufactures two way radios. It has the following data for its operations for years 20X0 and 20X1. There were no inventories on hand at the beginning of 20X0. The company uses a FIFO cost flow assumption for all of its inventories. TRIANGLE CORPORATION DATA FOR OPERATIONS FOR YEARS 20X0 AND 20XI 20X0 20X1 150 S Selling Price Per Unit 160 Units Sold 23,000 28,000 Units Produced 30,000...

  • Chapters 8,9 & 10 6 Help Save & Ex Neubert Corporation manufactures and sells a single...

    Chapters 8,9 & 10 6 Help Save & Ex Neubert Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During December, the company budgeted for 5,300 units, but its actual level of activity was 5,340 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results December Data used in budgeting: Fixed Element per Month Variable element per unit...

  • xam Saved Neef Corporation has provided the following data for its two most recent years of...

    xam Saved Neef Corporation has provided the following data for its two most recent years of operation: 84 Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year $432,000 5 $ 61,000 Year 1 Units in beginning inventory Units produced during the year Units sold during the...

  • Do It! Review 8-2 Gundy Corporation produces area rugs. The following per unit cost information is...

    Do It! Review 8-2 Gundy Corporation produces area rugs. The following per unit cost information is available: direct materials $17, direct labor $6, variable manufacturing overhead $8, fixed manufacturing overhead $6, variable selling and administrative expenses $2, and fixed selling and administrative expenses $9. Using a 35% markup on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.) Target selling price Click If you would like to Show Work for this question:...

  • Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $35,...

    Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $35, direct labor $24, variable manufacturing overhead $18, fed manufacturing overhead $52, variable selling and administrative expenses $13, and selling and administrative expenses $27. is desired ROI per unit is $20. Compute the marke percentage using variable cost pricing. (Round answer to decimal place 10.S .) Markup percentage 59 Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's anticipated...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.