ACCT 6273 Final Exam ACCT6273 Final Exam
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100 points, total.
For partial credit, formulas and work, appropriately labeled, must be shown. There is no partial credit for multiple choice or true/false questions.
1. Lincoln Company manufactures and sells small electric heaters for homes and offices. The company’s income statement for the FY2014 is given below:
Total Per unit Sales (30,000 units) $1,800,000 $60 Less variable expenses 1,440,000 48 Contribution margin 360,000 $12 Less fixed expenses 264,000 Net income $…show more content… Assume that next year management wants the company to earn a minimum profit of $162,000. How many units be sold to meet this target profit figure? [3 points] * * * * * * * * * * * Answer: ____________________ * *
The following information pertains to the next three questions 2-4.
Fifer Company produces two types of entry doors: the Hollow Core and the Solid Door models. The Company has used direct labor dollars to allocate the overhead cost of $47,450,000.
The company’s CFO, Brian Smythe, has offered the following information regarding the two products: | Hollow Core | Solid Door | Sales in units | 400,000 | 50,000 | | | | Sales price per unit | $475.00 | $650.00 | Direct materials per unit | 55.00 | 130.00 | Direct labor cost per unit | 75.00 | 50.00 | | | |
The company has hired you as an outside consultant to review the cost system and make recommendations. You decide that