29 Jun Question Question 1 Meriden Company
Question
Question 1 Meriden Company has a unit selling price of $570, variable costs per unit of $285, and fixed costs of $172,425. Compute the break-even point in units using the mathematical equation. Break-even point units
Question 2 For Turgo Company, variable costs are 57% of sales, and fixed costs are $170,400. Management’s net income goal is $88,890. Compute the required sales in dollars needed to achieve management’s target net income of $88,890. Required sales $
Question 3 For Kozy Company, actual sales are $1,136,000 and break-even sales are $761,120. Compute the margin of safety in dollars and the margin of safety ratio. Margin of safety $ Margin of safety ratio %
Question 4 Montana Company produces basketballs. It incurred the following costs during the year. Direct materials $14,931 Direct labor $25,239 Fixed manufacturing overhead $10,260 Variable manufacturing overhead $31,685 Selling costs $20,550 What are the total product costs for the company under variable costing? Total product costs $
Question 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 $244,856 Fixed selling and administrative expenses $247,303 Polk Company sells the fishing lures for $25.75. During 2012, the company sold 81,400 lures and produced 96,400 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 $ b) Prepare a variable costing income statement for 2012. (c) Assuming the company uses absorption costing, calculate Polk’s manufacturing cost per unit for 2012. (d) Prepare an absorption costing income statement for 2012. .
Question 6 For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $322,000 budget; $332,800 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 Difference Garden-Tools $ $ $
Question 7 Gundy Company expects to produce 1,319,160 units of Product XX in 2012. Monthly production is expected to range from 76,890 to 114,490 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $6, and overhead $10. 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 18,800 unit increments. (List variable costs before fixed costs.) GUNDY COMPANY Monthly Flexible Manufacturing Budget For the Year 2012 $ $ $ $ $ $ $ $ $
Question 1 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,340 1,930 2,350 2,770 Tax 3,160 2,730 2,260 2,880 Consulting 1,880 1,880 1,880 1,880 Average hourly billing rates are: auditing $82, tax $94, and consulting $104. Prepare the service revenue (sales) budget for 2012 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012 Quarter 1 Quarter 2 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012 Quarter 3 Quarter 4 Dept. Billable Hours Billable Rate Total Rev. Billable Hours Billable Rate Total Rev. Auditing $ $ $ $ Tax Consulting $ $ GARZA AND NEELY, CPAs Sales Revenue Budget For the Year Ending December 31, 2012 Year Dept. Billable Hours Billable Rate Total Rev. Auditing $ $ Tax Consulting $
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.