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1 Singer Corporation sold 4,000 units of its product at a price of $12 per unit. Total variable cost per unit is $10.00 consisting of $7.00 in variable production cost and $3.00 in variable selling and administrative cost. Compute contribution margin for the company.
Bay Company reports the following information regarding its production cost. (Round your final answers to 2 decimal places.)
Units produced
32,000 units
Direct labor
$22 per unit
Direct materials
$34 per unit
Variable overhead
$20 per unit
Fixed overhead
$94,920 in total
Compute production cost per unit under absorption costing.
Dent Corporation had net income of $184,000 based on variable costing. Beginning and ending inventories were 5,200 units and 8,200 units, respectively. Assume the fixed overhead per unit was $3.20 for both the beginning and ending inventory. What is net income under absorption costing?
Chance, Inc. sold 3,000 units of its product at a price of $72 per unit. Total variable cost per unit is $51, consisting of $32 in variable production cost and $19 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.
Given the following data, calculate product cost per unit under absorption costing.
Direct labor
$6.50 per unit
Direct materials
$2.50 per unit
Overhead
Total variable overhead
$70,000
Total fixed overhead
$105,000
Expected units to be produced
$35,000 units
A company is currently operating at 85% capacity producing and 6,000 units. Current cost information relating to this
production is shown in the table below.
Per Unit
Sales price
$45
Direct material
$4
Direct labor
$5
Variable overhead
$7
Fixed overhead
$12
The company has been approached by a customer with a request for a 100 unit special order. What is the minimum per unit sales price that management would accept for this order if the company wishes to increase current profits?
Assume a company sells a given product for $65 per unit. How many units must be sold to break-even if variable selling costs are $10 per unit, variable production costs are $13 per unit, and total fixed costs are $700,000?
A company is currently operating at 90% capacity and producing 4,000 units. Current cost information relating to this production is shown in the table below.
Per Unit
Sales price
$55
Direct material
$5
Direct labor
$4
Variable overhead
$6
Fixed overhead
$5
The company has been approached by a customer with a request for a 200 unit special. What is the minimum per unit sales price that management would accept for this order if the company wishes to increase current profits?
Sea Company reports the following information regarding its production cost.
Units produced
39,000 units
Direct labor
$34.70 per unit
Direct materials
$27.70 per unit
Variable overhead
$16.70 per unit
Fixed overhead
$85,800 in total
Compute production cost per unit under absorption costing.
Branwin Corporation sold 6,300 units of its product at a price of $33.80 per unit. Total variable cost per unit is $16.65, consisting of $10.05 in variable production cost and $6.60 in variable selling and administrative cost. Compute contribution margin for the company.
A company’s gross profit rate is 30% of sales. Expected January sales are $70,000 and desired January 31st inventory is $6,700. Assuming the December 31st inventory is $5,400 what amount of purchases should this company budget for the month of January?
Matrix Company is trying to decide how many units of merchandise to order each month. The company’s policy is to have 18% of the next month’s sales in inventory at the end of each month. Projected sales for August, September, and October are 60,000 units, 50,000 units, and 60,000 units, respectively. How many units must be purchased in September
Tyoto, Inc. predicts the following sales in units for the coming four months:
April
May
June
July
Sales in units
400
440
460
400
Although each month’s ending inventory of finished units should be 58% of the next month’s sales, the March 31 finished goods inventory is only 180 units. A finished unit requires five pounds of raw material B. The March 31 raw materials inventory has 200 pounds of B. Each month’s ending inventory of raw materials should be 25% of the following month’s production needs. The budgeted production for May is (rounded):
Ecology Co. sells a biodegradable product called Dissol and has predicted the following sales for the first four months of the current year:
Jan.
Feb.
March
April
Sales in units
2,300
2,500
2,700
2,200
Ending inventory for each month should be 18% of the next month’s sales, and the December 31 inventory is consistent with that policy. How many units should be purchased in February?
Next year’s sales forecast shows that 25,000 units of Product A and 27,000 units of Product B are going to be sold for prices of $8 and $10, respectively. The desired ending inventory of Product A is 24% higher than its beginning inventory of 2,000 units. The beginning inventory of Product B is 2,750 units. The desired ending inventory of B is 3,250 units. Budgeted purchases of Product A for the year would be:
A Company is preparing a cash budget for June. The company has $76,500 cash at the beginning of June and anticipates $91,830 in cash receipts and $101,120 in cash disbursements during June. This company has an agreement with its bank to maintain a cash balance of at least $70,000. As of May 31, the company owes $34,500 to the bank. To maintain the $70,000 required balance, during June the company must:
A sporting goods store purchased $8,500 of ski boots in October. The store had $5,500 of ski boots in inventory at the beginning of October, and expects to have $5,000 of ski boots in inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October?
A March sales forecast projects that 7,000 units are going to be sold at a price of $11.00 per unit. The desired ending inventory of units is 11% higher than the beginning inventory of 3,000 units. Total March sales are anticipated to be:
Lara Company’s budget includes the following credit sales for the current year: September, $27,000; October, $38,000; November, $32,000; December, $34,000. Experience has shown that payment for the credit sales is received as follows: 16% in the month of sale, 60% in the first month after sale, 20% in the second month after sale, and 4% is uncollectible. How much cash can Lara Company expect to collect in November as a result of current and past credit sales?
. Kabuki Company’s policy is to have 17% of the next month’s sales as desired ending inventory. Estimated sales are shown in the table below. Given this data, what is Kabuki’s estimated purchases for April?
March
April
May
Expected Sales units
10,100
9,600
8,000
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