Below is unit cost data from Joe Company for the previous month for the production of...
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Below is unit cost data from Joe Company for the previous month for the production of Baby Yoda dolls. Convert the unit cost to total cost and classify the cost into the relevant categories. Average cost per unit Total Variable Cost Total Fixed Cost Total Product Cost Total Period Cost Total Indirect Costs (Overhead) Total Direct Costs Units Produced and sold 17,000 Direct Materials $ 9.00 Direct Labor $ 3.00 Variable manufacturing overhead $ 4.00 Fixed manufacturing overhead $ 6.00 Fixed selling expense $ 2.25 Fixed administrative expense $ 14.60 Sales commissions $ 3.00 Variable administrative expense $ 1.50 Total Cost per Unit of Production 2 Using the cost data in the table above, determine the unit and total costs per different level of production. Total Product Costs Total Period Costs Total Costs Cost per unit of Production 17,000 21,000 Units of Production 25,000 27,000 30,000 33,000 Do not hard code 3 Meagan Company has produced the following financial information. Prepare two income statements based on this data. Sales Selling price per pair of skis Variable selling expense per pair of skis Units produced $ 405,000 $ 900 $ 100 Variable administrative expense per pair of skis $ 20 $ 35,000 Secret Formula of Life $ 15,000 Beginning $ 10,000 $ 60,000 $ 250,000 = used Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Prepare a traditional Income Statement using the above data +Added -Left Revenue COGS Gross Fixed selling Variable selling fixed administrative Variable administrative Do not hard code data in the grey cells- Prepare a Contribution Margin Income Statement using the above data Revenue Variable COGS Variable SGA Contribution Margin Fixed COGS Fixed SGA Below is unit cost data from Joe Company for the previous month for the production of Baby Yoda dolls. Convert the unit cost to total cost and classify the cost into the relevant categories. Average cost per unit Total Variable Cost Total Fixed Cost Total Product Cost Total Period Cost Total Indirect Costs (Overhead) Total Direct Costs Units Produced and sold 17,000 Direct Materials $ 9.00 Direct Labor $ 3.00 Variable manufacturing overhead $ 4.00 Fixed manufacturing overhead $ 6.00 Fixed selling expense $ 2.25 Fixed administrative expense $ 14.60 Sales commissions $ 3.00 Variable administrative expense $ 1.50 Total Cost per Unit of Production 2 Using the cost data in the table above, determine the unit and total costs per different level of production. Total Product Costs Total Period Costs Total Costs Cost per unit of Production 17,000 21,000 Units of Production 25,000 27,000 30,000 33,000 Do not hard code 3 Meagan Company has produced the following financial information. Prepare two income statements based on this data. Sales Selling price per pair of skis Variable selling expense per pair of skis Units produced $ 405,000 $ 900 $ 100 Variable administrative expense per pair of skis $ 20 $ 35,000 Secret Formula of Life $ 15,000 Beginning $ 10,000 $ 60,000 $ 250,000 = used Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Prepare a traditional Income Statement using the above data +Added -Left Revenue COGS Gross Fixed selling Variable selling fixed administrative Variable administrative Do not hard code data in the grey cells- Prepare a Contribution Margin Income Statement using the above data Revenue Variable COGS Variable SGA Contribution Margin Fixed COGS Fixed SGA
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Related Book For
Financial Accounting For Management
ISBN: 9789385965661
4th Edition
Authors: Neelakantan Ramachandran, Ram Kumar Kakani
Posted Date:
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