4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.)
Q: what is the beginning inventory in units?
A: Begining inventory - ending inventory = income
Q: A company determined that the marginal cost, C′(x) of producing the xth unit of a product is given…
A: Given information: C'(x)=x3-2x Integrating both sides ∫C'(x) dx=∫(x3-2x) dxC(x)=x44+2x22+C…
Q: A product has a sales price of $350 and a per-unit contribution margin of $139. What is the…
A: Formula: Contribution margin ratio = Per unit contribution margin / sales price per unit Division of…
Q: The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units…
A: Cost of goods sold = (Manufacturing costs / no. of units manufactured)x no. of units sold =…
Q: A company has a marginal cost of $36 per item and it can produce 290 items for a total cost of…
A: Fixed costs = Total cost - Marginal cost * Number of units produced = 26440 - 290*36 = $16000
Q: The following data were adapted from a recent income statement of The Bluth Company: (in…
A: Fixed Cost of products sold = Total Cost of products sold - Variable Cost of products sold = $98,540…
Q: 1. Determine the amount of desired profit from the production and sale of flat panel displays. 2.…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: formulas for contribution margin and net income. When selling all 195 products, a company has a…
A: Contribution margin is a's business income less its variable expenses. The subsequent contribution…
Q: Using the following accounts and terms, answer the questions below: Direct Labor per Unit Gross…
A: Calculation of predetermined overhead rate. Given that total estimated overheads is $720,000, and…
Q: Plymouth Company reports the following information for June.Calculate the gross profit and operating…
A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…
Q: 1. How much is the cost per equivalent unit for the month using Average costing? 2. How much is…
A: Equivalent units for production: The activity of a processing department in terms of fully…
Q: The following information was extracted from the first year absorption-based accounting records of…
A: Solution: Income under variable costing = Sales - Variable costs - Fixed costs
Q: Bluegill Company sells 45,000 units at $18 per unit. Fixed costs are $62,000, and income from…
A: The variable cost per unit can be calculated as per the concept of CVP analysis
Q: X Corp produces single product. Income under variable costing and absorption costing are 36,400 and…
A: Given, Income under variable costing= $36,400 Income under absorption costing= $25,600 Product cost…
Q: Bambam grp. has income of 3000 under variable costing. Product cost per unit under Variable costing…
A: Under Variable costing only, Variable manufacturing costs (i.e., Direct materials, Direct Labor and…
Q: The selling price per unit of a product is OMR 5, the total cost is OMR 500 of which the fixed…
A: Contribution per unit = Selling price per unit - Variable cost per unit
Q: Complete each of the following contribution format income statements by supplying the missing…
A: Sales =contribution margin+ variable expenses=236,284+150,052=386,336 Fixed expenses=contribution…
Q: A company sells one product and its contribution margin ratio is 10%. The company provides the…
A: Net operating income is the income earned by the company from its operations. It is reported in the…
Q: Fill in the missing amounts in each of the eight case situations below. Each case is independent of…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want a…
Q: The following CVP income statements are available for Blanc Company and Noir Company. Sales Variable…
A: Solution... Contribution margin ratio = Contribution margin ÷ sales revenue
Q: The manufacturing cost of Mocha Industries for three months of the year are provided below: Total…
A: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units -…
Q: The following data were obtained regarding the operations of Kirsten Company: Sales in units P…
A: Since you have posted question with multiple sub-parts, we will do the first three sub-parts for…
Q: 2. For financial accounting purposes, what is the total amount of period costs igcurred to sell…
A: Period cost are those cost which is not directly connected with the production process. All other…
Q: A product has a sales price of $746 and a per-unit contribution margin of $131. What is the…
A: Formula: Contribution margin ratio = Per unit contribution margin / sales price Division of per unit…
Q: The following information comes from the companies accounting records at a sales level of $50,000…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Bluegill Company sells 15,500 units at $320 per unit. Fixed costs are $248,000 and income from…
A: Formulas contribution margin=Fixed cost+Income from operations --------------------------…
Q: The following data were obtained regarding the operations of Kirsten Company: Sales in units P…
A: Since you have posted question with multiple sub-parts we will do the first three sub-parts asked by…
Q: amison Company produces and sells Product X at a total cost of $1,300 per unit, of which $880 is…
A: Mark up: Mark-up can also be defined as the gross margin of a sale, but the term is normally used in…
Q: Required: 1. Compute the number of regular models and deluxe models that must be sold to break even.…
A: For calculating the break even sale with different products , we need use the following formula :-…
Q: Evansville Company had the following transactions for the month. Number Cost of Units per Unit…
A: Gross margin is computed by subtracting the cost of goods sold from the sales price. The cost of…
Q: An analyst built the following spreadsheet, complete with named ranges (for example, cell B2 is…
A: The following are the values that should appear in the cells accordingly.
Q: JPS Company manufactures and sells three products. Relevant per unit data concerning each product…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Jackson Manufacturing, Inc., makes two types of industrial component parts—the XT-100 and the…
A: Traditional costing adds an average overhead rate to the direct cost of producing products and…
Q: The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units…
A: Gross Margin is the difference of sales revenue and cost of goods sold.
Q: The Cartwright Company income statement revenue and per unit costs are as follows: Sales $100.00…
A: Degree of operating leverage defined as the ratio which measures how much of the company operating…
Q: sales revenue is $35,000, fixed cost is $5,000, and net operation income is $10,000, what is the…
A: The contribution margin is calculated by deducting the variable cost from the sales revenue of the…
Q: Oslo Company prepared the following contribution format income statement based on a sales volume of…
A: Contribution Margin Ratio: When a company's revenues exceed its variable expenses, the difference is…
Q: When the gross profit percentage (Markup) of costs is 30%the gross profit percentage of sales is…
A: Gross Profit % is the gross profit earned divided by the sales value / selling price Gross Profit %…
Q: Complete the cost schedule below. When computing the cost per unit, round to two decimal places.…
A: Variable costs increase or decrease depending on a company's production volume. Fixed costs does not…
Q: The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units…
A: The gross margin is calculated as difference between sales revenue and cost of goods sold.
Q: Use the information below to answer the following question(s). Franscioso Company sells several…
A: Please find the answer to the above question below:
Q: The following information is available for a company's cost of sales over the last five months.…
A: Cost is referred as the essential part of the business or a company which looks after the costs such…
Q: Using the following accounts and terms, answer the questions below: Direct Labor per Unit Gross…
A: 1. CALCULATION OF PREDETERMINED OVERHEAD RATE Total predetermined overhead Rate= Total…
Q: Ming Company had income of $771,200 based on variable costing. Beginning and ending finished goods…
A: For calculating income under absorption costing from income under variable costing we have to…
Q: Suppose that the company sold all of its completed jobs, adding 40% mark up on its cost. How much is…
A: Prime cost means the addition of direct material and direct labor and other direct expenses.…
Q: [The following information applies to the questions displayed below.] Oslo Company prepared the…
A: Contribution margin is the difference between the sales revenue and variable cost and in other words…
Q: Using Direct Costing Method, Laban Company had a net profit of ₱65,000 and ₱50,000 using Full…
A: SOLUTION- EXPLANATION- CALCULATION OF FIXED MOH- FIXED MOH= NET PROFIT USING DIRECT COSTING METHOD…
Q: Fill in the missing amounts in each of the four case situations below. Each case is independent of…
A: The contribution margin indicates the amount left from the sales for the fixed expenses and income.…
Q: (1) Compute the total variable cost per unit. (2) Compute the total fixed costs. (3) Compute the…
A: Fixed cost and variable cost is the cost which is associated with product while producing that…
Q: Vhat is the incremental manufacturing cost incurred if the company increases production from 12,500…
A: Incremental manufacturing cost is the increase in cost by producing more units. It is that Variable…
Trending now
This is a popular solution!
Step by step
Solved in 5 steps
- Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of Goods Sold Gross Profit Side Note: Image 2 highlighted with pink (Table (c) Average Cost) is the only numbers/entries that are wrong and needs to be corrected.The problem is stated in the picture. Here is the question: 1. Assume instead, the Company uses the Moving Average method in the measurement of its inventories, how much would be the weighted average cost per unit of the sales made at May 20? (Round off the final answers to two decimal places)Calculating Gross Profit Percentage Given Percentage of Cost The following are calculations of gross profit as a percentage of cost: 25%, 30%, and 35% Compute gross profit as a percentage of sales for each of the three percentage of cost figures. Note: Round to the nearest whole percentage (for example, enter 20 for 20.44%)
- 1. For financial accounting purposes, what is the total amount of product costs incurred to make 25,000 units? What is the total amount of period costs incurred to sell 25,000 units? 2. If 24,000 units are produced, what is the variable manufacturing cost per unit produced? What is the average fixed manufacturing cost per unit produced? (Round your answers to 2 decimal places.) 3. If 26,000 units are produced, what is the variable manufacturing cost per unit produced? What is the average fixed manufacturing cost per unit produced? (Round your answers to 2 decimal places.) 4. If 27,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this level of production? 5. What total incremental manufacturing cost will Hixson incur if it increases production from 25,000 to 25,001 units? (Round your answer to 2 decimal places.) 6. What is Hixson’s contribution margin per unit? What is its contribution margin ratio? (Round "Contribution…The following data are available for X Corp:Gross profit is 20% based on cost. Using ABC, compute the selling price of each unit of Product B?Each of the following gross profit percentages is expressed in terms of cost. 1. 20%. 3. 33⅓%. 2. 25%. 4. 50%. Instructions Indicate the gross profit percentage in terms of sales for each of the above.
- When the gross profit percentage (Markup) of costs is 30%the gross profit percentage of sales is equal to:8. complete the following table to determine what are the total costs to account for if a company’s beginning inventory had $231,432 in materials, $186,450 in conversion costs, and added direct material costs ($4,231,392), direct labor ($2,313,392), and manufacturing overhead ($1,156,696)? PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed for that space, please enter "$0" with no quotation marks. Material Costs Conversion Costs Total Costs Beginning work in process ? ? x Added: ? ? x Direct materials ? ? x Direct labor ? ? x Manufacturing overhead ? ? x Total Costs ? ? ?The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000 Cost of goods sold 134,400 Gross margin 201,600 Operating expenses 145,600 Operating income $56,000 What is the markup percentage on total cost? (Round answer to 0 decimal places, e.g. 45%.) Markup percentage enter markup percentage rounded to 0 decimal places %
- The weighted-average cost method is used by Mendez, Inc. Sales are $90,000, the number of units available for sale is 300, the number of units sold during the period is 275, and the weighted-average cost of the goods available for sale is $220 each. How much is gross profit for the company?A product has a sales price of $383 and a per-unit contribution margin of $40. What is the contribution margin ratio? Round to the nearest percentage, no decimals.Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimals places)