Homework Answers
| Total variable cost | 8000 | =40*200 |
| Add: Profit required | 4000 | |
| Total sales revenue | 12000 | |
| Divide by units | 40 | |
| Selling price per unit | 300 |
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Knowledge Check 01 Walton Corporation is currently selling 104 units of its product. The company is...
Walton Company manufactures a personal computer designed for use in schools and markets it under its...
Walton Company manufactures a personal computer designed for use in schools and markets it under its own label. Walton has the capacity to produce 44,000 units a year but is currently producing and selling only 12,000 units a year. The computer’s normal selling price is $1,690 per unit with no volume discounts. The unit-level costs of the computer’s production are $520 for direct materials, $200 for direct labor, and $200 for indirect unit-level manufacturing costs. The total product- and facility-level...
Knowledge Check 01 Excerpt from Areojet Corporation Per Unit Per Month Selling price $ 200,000 Direct...
Knowledge Check 01 Excerpt from Areojet Corporation Per Unit Per Month Selling price $ 200,000 Direct materials 40,000 Direct labor 10,000 Variable manufacturing overhead 2,000 Fixed manufacturing overhead $ 140,000 Variable selling and administrative expenses 20,000 Fixed selling and administrative expenses 40,000 January February March Beginning inventory 0 0 3 Units produced 4 5 2 Units sold 4 2 5 Ending inventory 0 3 0 What is the unit product cost for the month of February, using the variable costing...
Knowledge Check 01 The inventory transactions of VTS Corporation are shown below. Date Transaction Number of...
Knowledge Check 01 The inventory transactions of VTS Corporation are shown below. Date Transaction Number of Units Unit Cost/Price Jan. 1 Beginning inventory 500 $ 10 Feb. 25 Sale 300 20 May 21 Purchase 400 12 Jul. 15 Purchase 500 15 Dec. 10 Sale 800 20 All purchase/sale transactions are made on credit. The company uses the FIFO method and the perpetual inventory system to record transactions. The entry to record the transaction on December 10 will involve a debit...
Knowledge Check 01 Stewart Corporation manufactures solar powered calculators. The company can manufacture 1200.000 calculator a...
Knowledge Check 01 Stewart Corporation manufactures solar powered calculators. The company can manufacture 1200.000 calculator a year at a variable cost of $3,000,000 and a fixed cost of $1,800,000. Based on management's projections for next year. 960.000 calculators will be sold at the regular price of $20.00 each. A special order has been received for 240.000 calculators at $6 per calculator Totale costs would be unaffected by this order. The company's net operating income will be increased as a result...
Knowledge Check 01 Stewart Corporation manufactures solar-powered cal culators. The company can manufecture 1,200,0...
Knowledge Check 01 Stewart Corporation manufactures solar-powered cal culators. The company can manufecture 1,200,000 calculators a year at a variable cost of $3,000,000 and a fixed cost of $1,800,000 Based on management's projections for next year, 960,000 caleulators will be sold at the regular price of $20.00 each. A special order has been received for 240,000 calculators at $6 per calculator Total fived costs would be unaffected by this order. The company's net operating income will be increased as a...
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the co...
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 53,000 units per month is as follows: Per Unit Direct materials $ 49.10 Direct labor $ 9.40 Variable manufacturing overhead $ 2.40 Fixed manufacturing overhead $ 19.90 Variable selling & administrative expense $ 4.40 Fixed selling & administrative expense $ 21.00 The normal selling price of the product is $112.10 per unit. An order has...
Knowledge Check 01 Which of the following is true of the contribution approach? It is mainly...
Knowledge Check 01 Which of the following is true of the contribution approach? It is mainly used for external reporting purposes. It separates costs into fixed and variable categories. OIt is not useful for merchandising companies It calculates gross margin by deducting cost of goods sold from sales Knowledge Check 02 Davidson Company has a product with a selling price per unit of $100, the unit variable cost is $60, and the total unit? monthly fixed costs are $30,000. If...
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of...
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 48,000 units per month is as follows: Per Unit Direct materials $ 46.60 Direct labor $ 8.90 Variable manufacturing overhead $ 1.90 Fixed manufacturing overhead $ 18.90 Variable selling & administrative expense $ 3.40 Fixed selling & administrative expense $ 16.00 The normal selling price of the product is $102.10 per unit. An order has...
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of...
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 49,000 units per month is as follows: Per Unit Direct materials $ 47.10 Direct labor $ 9.00 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 19.10 Variable selling & administrative expense $ 3.60 Fixed selling & administrative expense $ 17.00 The normal selling price of the product is $104.10 per unit. An order has...
E Corporation produces a single product. The cost of producing and selling a single unit of...
E Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 58,000 units per month is as follows: Per Unit Direct materials $ 51.60 Direct labor $ 9.90 Variable manufacturing overhead $ 2.90 Fixed manufacturing overhead $ 20.90 Variable selling & administrative expense $ 5.40 Fixed selling & administrative expense $ 26.00 The normal selling price of the product is $122.10 per unit. An order has...
Knowledge Check 01 Stewart Corporation manufactures solar powered calculators. The company can manufacture 1200.000 calculator a year at a variable cost of $3,000,000 and a fixed cost of $1,800,000. Based on management's projections for next year. 960.000 calculators will be sold at the regular price of $20.00 each. A special order has been received for 240.000 calculators at $6 per calculator Totale costs would be unaffected by this order. The company's net operating income will be increased as a result...
Knowledge Check 01 Stewart Corporation manufactures solar-powered cal culators. The company can manufecture 1,200,000 calculators a year at a variable cost of $3,000,000 and a fixed cost of $1,800,000 Based on management's projections for next year, 960,000 caleulators will be sold at the regular price of $20.00 each. A special order has been received for 240,000 calculators at $6 per calculator Total fived costs would be unaffected by this order. The company's net operating income will be increased as a...
Knowledge Check 01 Which of the following is true of the contribution approach? It is mainly used for external reporting purposes. It separates costs into fixed and variable categories. OIt is not useful for merchandising companies It calculates gross margin by deducting cost of goods sold from sales Knowledge Check 02 Davidson Company has a product with a selling price per unit of $100, the unit variable cost is $60, and the total unit? monthly fixed costs are $30,000. If...
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