Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. $ 35 per unit $ 25 per unit $10 per unit $ 48,000 per year $ 3 per unit $ 20,000 per year Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses The company sells its product for $150 per unit. Compute contribution margin using variable costing assuming the company produces and sells 2,000 units and (b) produces 2,400 units and sells 2,000 units. Contribution margin using variable costing Sales Variable expenses Contribution margin (a) 2,000 Units Produced and (b) 2,400 Units Produced 2,000 Units Sold and 2,000 Units Sold

Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. $ 35 per unit $ 25 per unit $10 per unit $ 48,000 per year $ 3 per unit $ 20,000 per year Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses The company sells its product for $150 per unit. Compute contribution margin using variable costing assuming the company produces and sells 2,000 units and (b) produces 2,400 units and sells 2,000 units. Contribution margin using variable costing Sales Variable expenses Contribution margin (a) 2,000 Units Produced and (b) 2,400 Units Produced 2,000 Units Sold and 2,000 Units Sold

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?
The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
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