average costs per unit are as follows: Average Cost per Unit Direct materials $ 7.10 Direct...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
average costs per unit are as follows: Average Cost per Unit Direct materials $ 7.10 Direct labor $ 4.10 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 5.10 Fixed selling expense $ 3.60 Fixed administrative expense $ 2.60 Sales commissions $ 1.10 Variable administrative expense $ 0.60 S Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 11,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 11,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (For all requirements, do not round intermediate calculations.) 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost average costs per unit are as follows: Average Cost per Unit Direct materials $ 7.10 Direct labor $ 4.10 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 5.10 Fixed selling expense $ 3.60 Fixed administrative expense $ 2.60 Sales commissions $ 1.10 Variable administrative expense $ 0.60 S Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-4 Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 11,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 11,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (For all requirements, do not round intermediate calculations.) 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
What does the acronym stand for? b. What would one be generated for or what is it designed to do or accomplish? c. Superintendents often wish all changes were handled as CCDs. Why? d. How is it...
-
What information must a notice of privacy policy contain? 2. Be able to identify situations in which each of the following PHI disclosure rules apply: 1. No Authorization Required, 2. No...
-
1. Rick and Barbara are married with two children. Four yearsago, Barbara bought a $75,000 life insurance policy on her motherslife and named her children as policy beneficiaries. Barbara didnot name...
-
On June 1, Fignon Company recalls bonds with a face value of $200,000 and a current book value of $190,000. Fignon pays $192,000 to retire the bonds. Prepare the journal entry to record the...
-
Under contract, Sojourn Co. delivers 1,000 units to Customer A for $50 each on 1 April. Sojourns documented policy is to allow a customer to return any unused product within 90 days and receive a...
-
This case stems from a rocky relationship between two Texans. Lawrence Shipley was the president of Shipley Do-Nut Flour & Supply Co., and Andrea Vasquez was a substitute school teacher in the...
-
Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown on the next pages, prepare the following financial ratios. All sales...
-
Explain what a database management system is. Describe the functions of a database management system. 5 Paragraph Essay Intro ,Body , Conclusion
-
Neko Co., a firm that issues ordinary shares with an average beta, projected to declare a constant amount of P22 dividend annually. The current nominal rate of a 90-day treasury bill is 4% while the...
-
Jane and Kennedy started the JK partnership in June 2 0 1 8 . Each member contributed $ 1 Million ( cash ) and the partnership used the funds to purchase $ 2 Million of land. The partners have been...
-
ABC expects to maintain the same inventories at the end as at the beginning of the year. o . The estimated fixed costs for the or are they $ 2 8 8 , 0 0 0 , and the estimated variable costs per unit...
-
Kelly and Megan started their business on August 31st, 2023. In the first four months their store had the following transactions. Record the following transactions (prepare journal entries): 1. Kelly...
-
Juan and Cecilia Martinez are married with two children, both of whom live at home. The children are ages 16 and 13. Juan is the vice president of Community Bank, and his annual salary is $94,000....
-
VIA Properly designed and utilized forms facilitate adherence to prescribed internal accounting control policies and procedures. One such form might be a multicopy purchase order, with one copy...
-
Discussion on the topic Does Gender Bias Influence Pay in the Workplace
-
On October 1, 2014, the Dow Jones Industrial Average (DJIA) opened at 17,042 points. During that day it lost 237 points. On October 2 it lost 4 points. On October 3 it gained 209 points. Deter-mine...
-
Joe Davidson recently began a new job as the office manager for a prominent medical clinic. He has just received a bill from MedTestPros, one of the labs that perform tests for the clinic. In...
-
Brett Graham has been working on Hiltech's activity-based cost implementation team. One of his assignments is to study the information services department. One activity cost pool in the department is...
-
Picasso's Pantry is a chain of arts and crafts stores. Results for the most recent year are as follows: Required a. What is Picassos Pantrys degree of operating leverage? b. If sales increase by 5%,...
-
Determine the solutions of the difference equations below, supposing that the systems they represent are initially relaxed: (a) \(y(n)-\frac{1}{\sqrt{2}} y(n-1)+y(n-2)=2^{-n} \sin \left(\frac{\pi}{4}...
-
Find the general solution for the difference equation in Example 1.9 when \(a=b\). Example 1.9. Solve the difference equation y(n) + ay(n 2) = b" sin(n)u(n) assuming that ab and y(n) = 0, for n < 0....
-
Show that a system described by Equation (1.63) is linear if and only if the auxiliary conditions are zero. Show also that the system is time invariant if the zero auxiliary conditions are defined...
Study smarter with the SolutionInn App