ACC 561 Week 5 Assignment WileyPLUS

07 Sep ACC 561 Week 5 Assignment WileyPLUS

Exercise 18-8

Meriden Company has a unit selling price of

$760, variable costs per unit of $380, and fixed costs of $332,120.

Compute the break-even point in units using the mathematical equation.

 

Brief

Exercise 19-16

Montana Company produces basketballs. It

incurred the following costs during the year.

Direct materials

$14,248

Direct labor

$25,442

Fixed manufacturing

overhead

$9,709

Variable manufacturing

overhead

$31,921

Selling costs

$21,138

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        $8.25

Direct labor        $2.70

Variable manufacturing overhead        $6.33

Variable selling and administrative expenses        $4.29

Fixed Costs per Year

Fixed manufacturing overhead        $260,032

Fixed selling and administrative expenses        $264,110

Polk Company sells the fishing lures for $27.50. During 2012, the company sold 81,100 lures and produced 95,600 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. (Round answer to 2 decimal places, e.g.10.50.)

Manufacturing cost per unit        $

(D.) Prepare an absorption costing income statement for 2012.

 

Brief Exercise 21-1

For the quarter ended March 31, 2012,

Maris Company accumulates the following sales data for its product,

Garden-Tools: $326,000 budget; $332,000 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

$

$

$

Brief Exercise 21-4

 

Gundy Company expects to produce 1,212,840 units

of Product XX in 2012. Monthly production is expected to range

from 71,900 to 114,000 units. Budgeted variable

manufacturing costs per unit are: direct materials $4, direct labor $7,

and overhead $10. Budgeted fixed manufacturing costs per unit for

depreciation are $6 and for supervision are $3.

 

Prepare a flexible manufacturing budget for the relevant range value

using 21,050 unit increments.(List variable costs before fixed costs.)

 

GUNDY COMPANY

Monthly Flexible Manufacturing Budget

For the Year 2012

 

$

 

$

 

$

 

$

 

$

 

$

 

$