ABC Company manufactured 1,000 units of product during the year. If direct material costs were $10,000,...
ABC Company manufactured 1,000 units of product during the year. If direct material costs were $10,000, direct labor costs were $5,000, factory overhead applied was$40,000, and selling and administrative expenses were $30,000, what is the manufacturing cost per unit?
a) $85
b) $45
c) $55
d) $15
Homework Answers
|
Manufacturing cost per unit = Materials cost per unit + Labor cost per unit + Overhead per unit = (10,000/1000) + (5,000/1000) + (40,000/1000) = 10 + 5 + 40 = 55 |
|
Add Answer to:
ABC Company manufactured 1,000 units of product during the year. If direct material costs were $10,000,...
Carr Company produces a single product. During the past year, Carr manufactured 33,110 units and sold...
Carr Company produces a single product. During the past year, Carr manufactured 33,110 units and sold 27,600 units. Production costs for the year were as follows: Direct materials $248,325 Direct labor $175,483 Variable manufacturing overhead $294,679 Fixed manufacturing overhead $463,540 Sales were $1,242,000 for the year, variable selling and administrative expenses were $140,760, and fixed selling and administrative expenses were $221,837. There were no units in beginning inventory. Assume that direct labor is a variable cost. The contribution margin per...
Last year, Richmon Company produced 10,000 units and sold 6,000 units at a price of $20....
Last year, Richmon Company produced 10,000 units and sold 6,000 units at a price of $20. Costs for last year were as follows: Direct materials $30,000 Direct labor 38,000 Variable factory overhead 8,000 Fixed factory overhead 40,000 Variable selling expense 5,000 Fixed selling expense 4,900 Fixed administrative expense 11,000 Fixed factory overhead is applied based on expected production. Last year, Richmon expected to produce 10,000 units. What is operating income for last year under absorption costing? a. $55,000 b. $39,000...
7. Determine the unit costs and total unit cost for the crankshaft if 10,000 units were...
7. Determine the unit costs and total unit cost for the crankshaft if 10,000 units were pro- duced (a recording error was made and 10,000 were made instead of 8,000) and compare the results (costs and profits) to the 8,000 total and unit costs of Tables 3.4 and 3.5. Assume all other values remain the same as in Tables 3.3, 3.4, and 3.5. Table 3.3: Cost data for overhead evaluations for an automotive metal casting facility Casting Products Produced Crank-...
1. How much is the total costs of Direct materials? 2. How much is the total...
1. How much is the total costs of Direct materials?
2. How much is the total direct labor
costs?
3. How much is the total factory overhead costs (
indirect material + Indirect labor + indirect other
expenses)?
4. How much is the total amount of prime
costs?
5. How much is the total conversion costs?
6. How much is the total manufacturing
costs?
7. How much is the cost of goods
manufactured?
8. How much is the total amount...
Carr Company produces a single product. During the past year, Carr manufactured 32,210 units and sold...
Carr Company produces a single product. During the past year, Carr manufactured 32,210 units and sold 26,700 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $241,575 $157,829 $251,238 $418,730 Sales were $1,241,550 for the year, variable selling and administrative expenses were $138,840, and fixed selling and administrative expenses were $199,702 There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the ending inventory...
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units. Production costs for the year were as follows: Direct materials $ 170,000 Direct labor $ 110,000 Variable manufacturing overhead $ 200,000 Fixed manufacturing overhead $ 240,000 Sales totaled $825,000 for the year, variable selling and administrative expenses totaled $108,000, and fixed selling and administrative expenses totaled $165,000. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per...
Krepps Corporation produces a single product. Last year, Krepps manufactured 33,910 units and sold 28,100 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 33,910 units and sold 28,100 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $247,543 $176,332 $284,844 474,740 Sales totaled $1,405,000 for the year, variable selling and administrative expenses totaled $148,930, and fixed selling and administrative expenses totaled $247,543. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per unit was:
Krepps Corporation produces a single product. Last year, Krepps manufactured 35,250 units and sold 29,700 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 35,250 units and sold 29,700 units. Production costs for the year were as follows: Direct materials $ 257,325 Direct labor $ 179,775 Variable manufacturing overhead $ 267,900 Fixed manufacturing overhead $ 634,500 Sales totaled $1,351,350 for the year, variable selling and administrative expenses totaled $151,470, and fixed selling and administrative expenses totaled $257,325. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s...
Lynch Company manufactures and sells a single product. The
following costs were incurred during the company’s first year of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$12
Direct labor
$9
Variable manufacturing overhead
$2
Variable selling and administrative
$2
Fixed costs per year:
Fixed manufacturing overhead
$403000
Fixed selling and administrative
$313000
During the year, the company produced 31,000 units and sold
26,000 units. The selling price of the company’s product is $55 per
unit.
Assume that the company...
Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production costs were as follows:...
Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production costs were as follows: Direct materials $100,000 Direct labour 75,000 50,000 Variable manufacturing overhead Fixed manufacturing overhead 75,000 Total sales were $440,000, total variable selling and administrative expenses were $110,000, and total fixed sellir beginning inventory. Assume that direct labour is a variable cost. Under absorption costing, what was the unit product cost? Select one: a. $13.40 b. $14.00 c. $12.00 d. $9.00
7. Determine the unit costs and total unit cost for the crankshaft if 10,000 units were pro- duced (a recording error was made and 10,000 were made instead of 8,000) and compare the results (costs and profits) to the 8,000 total and unit costs of Tables 3.4 and 3.5. Assume all other values remain the same as in Tables 3.3, 3.4, and 3.5. Table 3.3: Cost data for overhead evaluations for an automotive metal casting facility Casting Products Produced Crank-...
1. How much is the total costs of Direct materials?
2. How much is the total direct labor
costs?
3. How much is the total factory overhead costs (
indirect material + Indirect labor + indirect other
expenses)?
4. How much is the total amount of prime
costs?
5. How much is the total conversion costs?
6. How much is the total manufacturing
costs?
7. How much is the cost of goods
manufactured?
8. How much is the total amount...
Carr Company produces a single product. During the past year, Carr manufactured 32,210 units and sold 26,700 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $241,575 $157,829 $251,238 $418,730 Sales were $1,241,550 for the year, variable selling and administrative expenses were $138,840, and fixed selling and administrative expenses were $199,702 There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the ending inventory...
Krepps Corporation produces a single product. Last year, Krepps manufactured 33,910 units and sold 28,100 units. Production costs for the year were as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $247,543 $176,332 $284,844 474,740 Sales totaled $1,405,000 for the year, variable selling and administrative expenses totaled $148,930, and fixed selling and administrative expenses totaled $247,543. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per unit was:
Lynch Company manufactures and sells a single product. The
following costs were incurred during the company’s first year of
operations:
Variable costs per unit:
Manufacturing:
Direct materials
$12
Direct labor
$9
Variable manufacturing overhead
$2
Variable selling and administrative
$2
Fixed costs per year:
Fixed manufacturing overhead
$403000
Fixed selling and administrative
$313000
During the year, the company produced 31,000 units and sold
26,000 units. The selling price of the company’s product is $55 per
unit.
Assume that the company...
Last year, Walsh Company manufactured 25,000 units and sold 22,000 units. Production costs were as follows: Direct materials $100,000 Direct labour 75,000 50,000 Variable manufacturing overhead Fixed manufacturing overhead 75,000 Total sales were $440,000, total variable selling and administrative expenses were $110,000, and total fixed sellir beginning inventory. Assume that direct labour is a variable cost. Under absorption costing, what was the unit product cost? Select one: a. $13.40 b. $14.00 c. $12.00 d. $9.00
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago