Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with...

Transcribed Image Text:

Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per quarter Required: $ 190 1,500,000 4,500,000 22 25 23 19 500,000 units Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Answer is complete but not entirely correct. 500,000 units 600,000 units a. Prime cost per unit $ 70.00 $ 70. b. Contribution margin per unit $ 101.00 $ 101. c. Gross margin per unit $ 120.00 $ 120. d. Conversion cost per unit 69 $ 45.00 $ 45. e. Variable cost per unit 89.00 $ 89. f. Full absorption cost per unit + $ 120.00 $ 120. g. Variable production cost per unit h. Full cost per unit $ 70.00 $ 70. $ 101.00 101. < Prev 3 of 10 Next > Exercise 2-37 (Algo) Basic Concepts (LO 2-1, 2, 6) Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per quarter Required: $ 190 1,500,000 4,500,000 22 25 23 19 500,000 units Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units is 500,000 per quarter. Also calculate if the number of units increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Answer is complete but not entirely correct. 500,000 units 600,000 units a. Prime cost per unit $ 70.00 $ 70. b. Contribution margin per unit $ 101.00 $ 101. c. Gross margin per unit $ 120.00 $ 120. d. Conversion cost per unit 69 $ 45.00 $ 45. e. Variable cost per unit 89.00 $ 89. f. Full absorption cost per unit + $ 120.00 $ 120. g. Variable production cost per unit h. Full cost per unit $ 70.00 $ 70. $ 101.00 101. < Prev 3 of 10 Next >