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- Download: http://solutionzip.com/downloads/accounting/
- 1-Meriden Company has a unit selling price of $610, variable costs per unit of $305, and fixed costs of $218,075.
- Compute the break-even point in units using the mathematical equation.
- 2-For Turgo Company, variable costs are 56% of sales, and fixed costs are $178,600. Management’s net income goal is $117,080.
- Compute the required sales in dollars needed to achieve management’s target net income of $117,080.
- 3-For Kozy Company, actual sales are $1,256,000 and break-even sales are $778,720.
- Compute the margin of safety in dollars and the margin of safety ratio.
- Margin of safety
- $
- Margin of safety ratio %
- 4-Montana Company produces basketballs. It incurred the following costs during the year.
- Direct materials $14,151
- Direct labor $25,208
- Fixed manufacturing overhead $9,995
- Variable manufacturing overhead $31,583
- Selling costs $20,838
- What are the total product costs for the company under variable costing?
- Total product costs
- $
- 5-Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs.
- Variable Cost per Unit
- Direct materials $7.73
- Direct labor $2.52
- Variable manufacturing overhead $5.92
- Variable selling and administrative expenses $4.02
- Fixed Costs per Year
- Fixed manufacturing overhead $240,030
- Fixed selling and administrative expenses $247,303
- Polk Company sells the fishing lures for $25.75. During 2012, the company sold 80,100 lures and produced 94,500 lures.
- (a) Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)
- Manufacturing cost per unit
- $
- 6-For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $321,800 budget; $332,200 actual.
- Prepare a static budget report for the quarter.
- MARIS COMPANY
- Sales Budget Report
- For the Quarter Ended March 31, 2012
- Product Line Budget Actual
- Garden-Tools $ $ $
- Difference:
- Favorable -Unfavorable- Neither favorable nor unfavorable
- Gundy Company expects to produce 1,242,720 units of Product XX in 2012. Monthly production is expected to range from 81,610 to 129,790 units. Budgeted variable manufacturing costs per unit are: direct materials $5, direct labor $6, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $2.
- Prepare a flexible manufacturing budget for the relevant range value using 24,090 unit increments. (List variable costs before fixed costs.)
- Download: http://solutionzip.com/downloads/accounting/
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