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Assume in each case that the selling expenses are $9 per unit and that the normal profit is $6 per unit. Calculate the limits for each case. Then enter the amount that should be used for lower of cost or market.     Selling Price   Upper Limit   Replacement Cost   Lower Limit   Cost   LCM (a)   $63     $     $44     $     $53   $   (b)   52         35         39     (c)   59         44         45     (d)   54         38         36

Assume in each case that the selling expenses are $9 per unit and that the normal profit is $6 per unit. Calculate the limits for each case. Then enter the amount that should be used for lower of cost or market.     Selling Price   Upper Limit   Replacement Cost   Lower Limit   Cost   LCM (a)   $63     $     $44     $     $53   $   (b)   52         35         39     (c)   59         44         45     (d)   54         38         36

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter3: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 5MC: A company sells its products for $80 per unit and has per-unit variable costs of $30. What is the...
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Assume in each case that the selling expenses are $9 per unit and that the normal profit is $6 per unit. Calculate the limits for each case. Then enter the amount that should be used for lower of cost or market.

   
Selling Price
   Upper Limit
  
Replacement Cost
  
Lower Limit
  
Cost
  
LCM
(a)   $63     $
 
   $44     $
 
   $53   $
 
(b)   52    
 
   35    
 
   39  
 
(c)   59    
 
   44    
 
   45  
 
(d)   54    
 
   38    
 
   36  
 
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