The production of one unit of Product BBB used $17.50 of direct materials and $21.00 of direct
Question:
The production of one unit of Product BBB used $17.50 of direct materials and $21.00 of direct labor. The unit sold for $56.00 and was assigned overhead at a rate of 30% of labor costs. What is the gross profit per unit on its sale?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Selling price per unit 5600 Direc...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Practical Management Science
ISBN: 978-1305250901
5th edition
Authors: Wayne L. Winston, Christian Albright
Question Posted:
Students also viewed these Cost Accounting questions
-
The following information pertains to Nell Companys production of one unit of its manufactured product during the month of June. The company recognizes the materials price variance when materials are...
-
Freedom Company manufactures medical scooters for people who need assistance in mobility. Facing rising utilities expenses and labour costs, Freedom is contemplating outsourcing the production of one...
-
Upscale Products Inc. uses a standard cost system in accounting for the cost of production of its only product, Suave. The standards for the production of one unit of Suave follow: Direct materials:...
-
You have the following frequency distribution of the Travel Time to work for residents in South Beach neighborhood. Please answer the questions that follow after the Frequency Table. Travel Time a....
-
Determine the period of small oscillations of a mathematical pendulum, that is a ball suspended by a thread l = 20 cm in length, if it is located in a liquid whose density is = 3.0 times less than...
-
What are stock options and why would a corporation offer stock options to its employees?
-
Form groups of three to five persons each. Each member of the group should pick one of the following industry types: Manufacturing Insurance Health care Government Service Each person should explore...
-
After its first month of operation, the following amounts were taken from the accounting records of Polaris Realty Inc. as of November 30, 2011.Prepare an income statement for the month ending...
-
On a particular day, a restaurant that is open for lunch and dinner had 187 customers. Each customer came in for one meal. An employee recorded at which meal each customer came in and whether the...
-
Hill has two options to enter the small business market through a partnership or through direct sales. The costs and pricing differ for each approach. Hill Partnership: Sales price is 35% lower Hill...
-
A company's ending inventory of finished goods has a cost of $35,000 and consists of 750 units. If the overhead applicable to these goods is $8,400, and overhead is applied at the rate of 60% of...
-
Maximizing shareholder returns usually implies that the firm must also satisfy customers, employees, suppliers, creditors and other stakeholders . First, rank stakeholders as to expected risk and...
-
A ball of mass M collides with a stick with moment of inertia I = ?m?2 (relative to its center, which is its CM). The ball is initially traveling with velocity V0 perpendicular to the stick. The ball...
-
Mandeville Limited ( ML ) constructed a distillery on January 1 , 2 0 2 1 . The distillery is estimatedto have a useful life of 3 0 years ( nil residual value ) from the date it was completed and...
-
The assembly department of Whitby Inc. uses the weighted average method of process costing. They shared the following data for the quarter with you. Physical units Direct materials Conversion costs...
-
Examine the shift in accounting standards for loan loss provisioning from incurred loss models to expected credit loss models in the aftermath of the 2 0 0 7 - 0 8 Financial Crisis. How do the...
-
In another water circuit, water flows at a rate of 30 litres/minute through a Perspex pipe of external diameter 80mm. Given that the pipe has a thickness of 0.01mm and the dynamic viscosity of the...
-
When car has a lifetime distribution exp(1/4), the owner wants to change the car either it is broken or the car is 8 years old. If it is replaced at 8 years (not broken), the owner pays 20, 000...
-
Determine whether the statement is true or false. If it is true, explain why. If it is false, explain why or give an example that disproves the statement. If F and G are vector fields and divF =...
-
Determine the annual percentage yield for a loan that charges a monthly interest rate of 1.5% and compounds the interest monthly.
-
The Ogi Corporation, a construction company, purchased a pickup truck for $14,000 and used MACRS depreciation in the income tax return. During the time the company had the truck, they estimated that...
-
A profitable wood products corporation is considering buying a parcel of land for $50,000, building a small factory building at a cost of $200,000, and equipping it with $150,000 of MACRS 5-year...
-
A small vessel was purchased by a chemical company for $55,000 and is to be depreciated by MACRS depreciation . When its requirements changed suddenly, the chemical company leased the vessel to an...
-
38. Sixth applies manufacturing overhead on the basis of 75% of direct labor cost. An analysis of the related accounts and job order cost sheet indicates that during the year, total manufacturing...
-
5 1 ponts 01 Dwight Donovan, the president of Franklin Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A...
-
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1400 units. The costs and...
Study smarter with the SolutionInn App