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HW-1862 Finance questions
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Brief Exercise 18-8
Meriden Company has a unit selling price of $680, variable costs per unit of $408, and fixed costs of $178,704.
Compute the break-even point in units using the mathematical equation.
Brief Exercise 18-10
For Turgo Company, variable costs are 60% of sales, and fixed costs are $172,800. Management’s net income goal is $88,720.
Compute the required sales in dollars needed to achieve management’s target net income of $88,720.
Brief Exercise 18-11
For Kozy Company, actual sales are $1,241,000 and break-even sales are $744,600.
Compute the margin of safety in dollars and the margin of safety ratio.
Brief Exercise 19-16
Montana Company produces basketballs. It incurred the following costs during the year.
Direct materials $14,567
Direct labor $25,925
Fixed manufacturing overhead $9,738
Variable manufacturing overhead $31,971
Selling costs $21,012
What are the total product costs for the company under variable costing?
Exercise 19-17
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 $7.65
Direct labor $2.50
Variable manufacturing overhead $5.87
Variable selling and administrative expenses $3.98
Fixed Costs per Year
Fixed manufacturing overhead $239,400
Fixed selling and administrative expenses $244,902
Polk Company sells the fishing lures for $25.50. During 2012, the company sold 80,500 lures and produced 95,000 lures.
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.)
Brief Exercise 21-1
For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $318,500 budget; $339,400 actual.
Prepare a static budget report for the quarter.
Brief Exercise 21-4
Gundy Company expects to produce 1,293,000 units of Product XX in 2012. Monthly production is expected to range from 70,870 to 103,090 units. Budgeted variable manufacturing costs per unit are: direct materials $3, direct labor $6, and overhead $11. 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 16,110 unit increments. (List variable costs before fixed costs.)
Answer will be sent by email as attachment.
Meriden Company has a unit selling price of $680, variable costs per unit of $408, and fixed costs of $178,704.
Compute the break-even point in units using the mathematical equation.
Brief Exercise 18-10
For Turgo Company, variable costs are 60% of sales, and fixed costs are $172,800. Management’s net income goal is $88,720.
Compute the required sales in dollars needed to achieve management’s target net income of $88,720.
Brief Exercise 18-11
For Kozy Company, actual sales are $1,241,000 and break-even sales are $744,600.
Compute the margin of safety in dollars and the margin of safety ratio.
Brief Exercise 19-16
Montana Company produces basketballs. It incurred the following costs during the year.
Direct materials $14,567
Direct labor $25,925
Fixed manufacturing overhead $9,738
Variable manufacturing overhead $31,971
Selling costs $21,012
What are the total product costs for the company under variable costing?
Exercise 19-17
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 $7.65
Direct labor $2.50
Variable manufacturing overhead $5.87
Variable selling and administrative expenses $3.98
Fixed Costs per Year
Fixed manufacturing overhead $239,400
Fixed selling and administrative expenses $244,902
Polk Company sells the fishing lures for $25.50. During 2012, the company sold 80,500 lures and produced 95,000 lures.
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.)
Brief Exercise 21-1
For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $318,500 budget; $339,400 actual.
Prepare a static budget report for the quarter.
Brief Exercise 21-4
Gundy Company expects to produce 1,293,000 units of Product XX in 2012. Monthly production is expected to range from 70,870 to 103,090 units. Budgeted variable manufacturing costs per unit are: direct materials $3, direct labor $6, and overhead $11. 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 16,110 unit increments. (List variable costs before fixed costs.)
Answer will be sent by email as attachment.
