29 Jun Question 1. (TCO 1) George Corporation
Question
1. (TCO 1) George Corporation has an estimated monthly sales of 3,200 units for $70 per unit. Variable costs include manufacturing costs of $36 and distribution costs of $14. Fixed costs are $40,000 per month.
Required:
Determine each of the following values.
a. Unit contribution margin
b. Monthly break-even unit sales volume
Create a contribution margin-based income statement
2. (TCO 7) Darling Manufacturing Inc. manufactures two products, A and B, from a joint process. A single production costs $5,000 and results in 200 units of A and 800 units of B. To be ready for sale, both products must be processed further, incurring seperable costs of $3 per unit for A and $4 per unit for B. The market price for Product A is $15 and for Product B is $10.
Required: Allocate joint production costs to each product using the net realizable value method
3. (TCO6) Santa Inc. manufactures toys based on the following information.
Standard costs
Materials (4 ounces at $4)
$16
Direct labor (1 hour per unit)
$7
Variable overhead (based on direct labor hours)
$3.50
Fixed overhead budget
$16,000
Actual results and costs
Materials purchased
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