FREE Trial

The total manufacturing cost data on Miro Companys specialty paint product line are provided below. Direct materials. . . . . . . . . . . . . . . . . . . . . . . .

The total manufacturing cost data on Miro Company’s specialty paint product line are provided below.
Direct materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $50.00 per gallon
Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3.80 per gallon
Manufacturing overhead:
Variable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3.75 per gallon
Fixed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 per month
General corporate sales and administrative costs . . . . . . . . . . . . . . . . . . . $5,400,000 per month
Assuming that Miro expects to produce 300,000 gallons in the next month, what appears to be the total manufacturing cost on average to produce one gallon of specialty paint?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!
  • Tutor Answer

Variable product costs per gallon of paint 5000 direct materials 38…View the full answer


answer-question
Related Book For  answer-question
Accounting concepts and applications

Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

See More Books
Question Details
Chapter # 15
Section: Practice Exercises
Problem: 27
Posted Date: December 27, 2011 10:55:54
See More Questions

Students also viewed these Managerial Accounting questions

Q:
Sunshine Company manufactures diamond-tipped cutting blades. The total manufacturing cost of one blade is $1,000, of which $400 is the conversion cost. The direct labor cost of a blade is one-sixth...
A:
The amount of factory overhead cost per blade is 300 calculated as fol......
Q:
A.B.C furniture Inc manufactures bookshelves. The total manufacturing cost for September is as follows. Raw marital purchased $92,430.00 Raw material used direct materials $82,475.00 indirect...
A:
Answer Cost of goo......
Q:
Smithson Inc. manufactures wave soldering machines. The total manufacturing cost of one machine is $3,000, of which $2,000 is the conversion cost. The direct labor cost of a machine is half as large...
A:
The amount of factory overhead cost per machine is 1500 calculated......
Q:
Burger Prince buys top-grade ground beef for $1.00 per pound. A large sign over the entrance guarantees that the meat is fresh daily. Any leftover meat is sold to the local high school cafeteria for...
A:
Using the data provid ed The cost of underestimating the demond is Cu E 06o 050x......
Q:
Mila Company discovers in 2014 that its ending inventory at December 31, 2013, was overstated by $5,000. What effect will this error have on (a) 2013 profit, (b) 2014 profit, and (c) the combined...
A:
a Mila Companys 2013 profit will be understated O 5000 Beginning inven......
Q:
1 . Why do you think British Airways decided to go fully operational on day 1? 2 . How could an RBS like the one featured in Figure 7.3 have prevented the disaster from occurring? FIGURE 7.3 The Risk...
A:
1 Over confidence BA execs wanting to put on a big......
Q:
When testing whether the controls are operating effectively, does the auditor need to reperform the control? For example, if client personnel check the correctness of computations on an invoice and...
A:
Many auditors believe that a minimum amount of reperformance of the control is necessary in some ins......
Q:
What was Facebooks accounting effective tax rate for 2018? What items caused the companys accounting effective tax rate to differ from the hypothetical tax rate of 21 percent? What was the companys...
A:
Facebooks accounting effective tax rate for 2018 was 128 percent 324925361 The items that caused Fac......
Q:
A Summary of the U.S. Balance of Payments for 2021 (in $ billion) Current Account [1] Exports [1.1] Goods [1.2] Services [2] Imports [2.1] Goods [2.2] Services [3] Primary income [4] Secondary income...
A:
a1 To compute the balance on the US direct investment subtract the debits outflows from the credits inflows related to direct investment Balance on US......
Q:
There is a lottery with n coupons and n people take part in it. Each person picks exactly one coupon. Coupons are numbered consecutively from 1 to n, n being the maximum ticket number. The winner of...
A:
Code is in......
Q:
The Dallas Mavericks basketball team has hired you as its new accountant. On your first day on the job, Mavericks owner, Mark Cuban, comes to you and asks, How many tickets must we sell to pay for...
A:
1 18077904 fixed cost 98 ticket price......
Q:
BatsRUs, Inc., has created a unique line of aluminum baseball bats that, while illegal for league use, are designed to nearly double the average length of a batted ball. They are a great "hit" in the...
A:
1 Variable costs per batch of 14300 10 bats per batch 1430 per bat Manufact......
Q:
At the age of 9, Emily Rosa tested professional touch therapists to see if they could sense her energy field. She flipped a coin to select either her right hand or her left hand, then she asked the...
A:
The test statistic of is not in the critical region bounded by z 2......
Q:
A boutique has three departments in the same premises. These departments occupy roughly equal sized areas of the premises so the fixed cost has been equally shared between them. Results for the past...
A:
To assess whether the managing directors decision to close the accessories department is justified w......
Q:
The following balances were taken from the books of Martinez Fabrication Limited on December 31, 2023: Accumulated depreciation-equipment Accumulated depreciation-buildings Interest income - Cash...
A:
Martinez Fabrication Limited Income Statement For the Year Ended December 31 2023 Revenues......
Q:
Assume a file named my data.txt already exists and contains an unknown number of lines. Each line contains an integer value. Write a program that copies the contents of my_data.txt to another file...
A:
I will use the Python programming language to copy the contents of a file named mydatatxt to another......
Q:
We consider a stock (i) on the market. The profitability of stock (i), in the time interval from t=0 to t=1, is denoted by (Ri) and has the following distribution: R: 0,2 0,3 0,2 0,2 0,1 1,4 1,5 1,5...
A:
To calculate the average expected return of the stock you need......
Q:
createa dependency classdiagram of the above code. Include all relevantclasses and dependencies, and use stereotypes to describerelationships. However you are not allowed to use dependencies. public...
A:
The bulid method wi have the following sequene 1 Boat obj......
Q:
R 3 Given the following force fields, find the work required to move an object on the given curve. F = (x, y, z) (x + y + z)/2 1t2 on the path r(t) = (1,31, -1), for
A:
To find the work required to move an object on the given curve using the force field f x y zx2 y2 z2......
Q:
Let (X. A. p) be a measure space. Show that for any A,B A, we have the equality: (AUB)+(An B) = (A) + (B).
A:
The detailed......
Q:
Assume that Asokans Golden Brown Pancake Restaurant does a regression analysis on the next years data using Excel 2007. The output generated by Excel is as follows: Requirements 1. What is the fixed...
A:
Req 1 The fixed cost per month for Asokans is 142360 This is th......
Q:
Asokans Golden Brown Pancake Restaurant features sourdough pancakes made from a strain of sourdough dating back to the Yukon gold rush. To plan for the future, Asokan needs to figure out his cost...
A:
Req 1 If students used Excel they may not have forced the vertical axis to show the origin If so the......
Q:
Georgia bleadown company uses the high low method to analyze production costs. The following information related to the production data for the first six months of the year. What is the estimated...
A:
Computation of the total cost for 8000 hours March 7500 9700......
Q:
StudentGrades.java import java.io.File; import java.io.FileReader; import java.io.IOException; import java.io.PrintWriter; import java.util.Map; import java.util.Scanner; import java.util.Set; import...
A:
StudentGradesjava import javaioFile import javaioIOException import javautilHashMap import javautilMap import javautilScanner public class StudentGrades public static void mainString args Start below......
Q:
What are the defining features of monetarist macroeconomics and what policies do monetarist macroeconomists recommend?
A:
Monetarists believe that the economy is selfregulating and will t......
Q:
Management of Skydio thinks that the top 10 SKUs ranked by gross margin have a significantly different average gross margin than the bottom ten SKUs. Using the Data Analysis ToolPak, conduct a...
A:
a H 0 The average gross margin of the top ten SKUs is the sa......
Q:
Stainless Steel Specialties (SSS) is a manufacturer of hot waterbased heating systems for homes and commercial businesses. The company has grown about 10% in each of the past five years. The company...
A:
a When performing planning analytical procedures if the clients results are unexpected or look too good to be true the auditor should have a heightened degree of professional skepticism and be sure to......
Q:
The daily demand for Ironcoat paint at the Top Value Hardware Store in North Bay is normally distributed, with a mean of 30 gallons and a standard deviation of 10 gallons. The lead time for receiving...
A:
For a 95 service......
Q:
Search the Internet for current news about Payroll laws. The article must be written in 2023 and be accessible without a subscription. Provide a summary of the article. Include the URL of the article...
A:
The article provides an overview of various aspects of employment law in the United States It covers a wide range of topics related to employment including sources of employment law types of worker pr......
Q:
You have just gathered the following performance data for three different money managers, based on a regression of their excess returns relative to those for the S&P 500 Index. Each manager's...
A:
a Information ratio IR j a j s u where s u standard error of the regress......
Q:
Assume that Alices Flower Power does a regression analysis on the next years data using Excel 2007. The output generated by Excel is as follows: Requirements 1. Determine the firms cost equation (use...
A:
Req 1 Based on the Excel output Flower Powers van operating cost equatio......
Q:
Refer to Asokans Golden Brown Pancake Restaurant in E6-32A. Requirements 1. Use Microsoft Excel to perform regression analysis on Asokans monthly data. Based on the output, write Asokans monthly...
A:
Req 1 SUMMARY OUTPUT Regression Statistics Multiple R 0664645 R Square 0441753 Adjusted......
Q:
The decision about where to invest abroad is influenced by behavioral factors. a. Explain the behavioral approach to FDI. b. Explain the international network theory explanation of FDI.
A:
a The behavioral approach to analyzing the FDI decision is typified by the socalled Swedish School of economists The Swedish School has rather success......
Q:
Visit the Lost Ring game at www.thelostring.com. The site has a rather surprising corporate sponsor (you can find it if you look carefully) mentioned frequently. What purpose does this site serve for...
A:
The corporate sponsor of the Lost Ring game is Burger King The purpose of the site for its sponsor i......
Q:
Go to https://www.educba.com/big-data-vs-datawarehouse/ and discuss the differences between big data and data warehousing listed on this page.
A:
Big Data a......
Q:
Go to the Teradata University Network Web site (teradatauniversitynetwork.com) or a URL given by your instructor. Locate Web seminars related to data mining and neural networks. Specifically, view...
A:
a One possible realtime application of neural networks at Continental Airlines is fraud detection Neural networks can be used to identify patterns in......
Q:
Explore Linker Networks Web site (http://www.linkernetworks. com/). What can its auto-labelling system be used for besides training vehicles? Read the featured stories on the Web site and name at...
A:
Linker Networks is an AI company that provides autolabeling solutions a fully cloudbased AutoML platform and AI model services for multiple vertical i......
Q:
Go to attensity.com. Download at least three white papers on Web analytics applications. Which of these applications might have used a combination of data/ text/Web mining techniques?
A:
Here are the three white papers on Web analytics applications from attensitycom that I downloaded Web Analytics for Customer Experience Management Thi......
Q:
The first high-level programming language was known as ____________, which stands for formula translator.
A:
Click to View...
Q:
Determine which of the following limits exist. Compute the limits that exist. lim x-0 1- + 3x X
A:
lim x0 x......
Q:
Find the solution of the following initial value problems. f'(x) = 2x - 3; f(0) = 4
A:
We have fx 2x 3......
Q:
Find the solution of the following initial value problems. g'(x) = 7x 6 - 4x 3 + 12; g(1) = 24
A:
We have gx 7x 6 4x 3 12 d......
Q:
Find the solution of the following initial value problems. g'(x) = 7x(x 6 - 1/7); g(1) = 2
A:
We have substituting......
Q:
Governmental Funds Statement of Revenues Expenditures and Changes in Fund Balance. You have recently started working as the controller for a small county. The county is preparing its financial...
A:
Some of the modifications or corrections that should be made include The word Expenses should be cha......
Q:
In the Solow model, what determines the steady-state rate of growth of income per worker?
A:
In the Solow model we find that only technological progress can......
Q:
BIO Company is a private company. It employs 30 engineers and scientists who are involved with research and development of various biomedical devices. All of the engineers and scientists are highly...
A:
a None of the acquisition cost should be allocated to BIOs skilled workers assuming that the workers are not under contract The skilled workers are not capable of being separated or divided from the a......
Q:
Exporting cigarettes [to Asia] is good business for America; there is no reason we should be prohibited from doing so. Asians have been smoking for decades; we are only offering variety in their...
A:
Click to View...
Q:
In your audit of Aviary Industries for calendar year 20X0, you found a number of matters that you believe represent possible adjustments to the company's books. These matters are described below....
A:
a See the following Summary of Possible Adjustments b Aviarys management may refuse to make some or all of the proposed adjustments because all of the adjustments except 4 reduce net income Management......
Q:
The Hinges Division of Altoona Corporation sells 110,000 units of part Z-25 to the outside market. Part Z-25 sells for $100 and has a variable cost per unit of $52 and a fixed cost per unit of $10....
A:
In a negotiated transfer pricing system the transfer price is determined through negotiations betwee......
Q:
Table 1 shows Apple's online orders for the last week. When shoppers place an online order, several "recommended products" (upsells) are shown as at checkout an attempt to upsell See table 2 in cell...
A:
REPORT All the orders that were placed transactions were eligible since non of the orders had the products iPad mini iPad pro special offer or iPhone......
Q:
A financial analysis of RASTs average total return to shareholders (TRS) for the last five years using data provided in Table 1, AND comment on the companys performance with respect to the average...
A:
RASTs average total return to shareholders TRS over the last five years has been positive with a com......
Q:
Solve the given functions Consider f(x) = 3x - 6. a. Compute: f(a) 3x - 6 b. Compute and simplify: c. Compute and simplify: d. Compute and simplify: f(a+h) f(a+h) f(a) f(a+h)-f(a) h
A:
Given fx 3x6 a fa 3a6 b fah......
Q:
I want a manual of Financial management theory and practice, 14th edition by Brigham and Ehrhardt. Can you plz help me?
A:
The manual can b......
Q:
Explain forfeiture of shares? Can forfeited shares be re-issued at discount?
A:
Forfeiture of shares refers to the process by which a company cancels and takes back shares that were previously allotted to a shareholder due to the......
Q:
A company offers to its existing equity shareholders the right to buy one share of 100 each at 120 for every three shares held. The cum rights quotation in the market for the companys share is 180....
A:
The value of a right can be calculated using the exrights......
Q:
What are the journal entries to be passed on re-issue of forfeited shares?
A:
The reissue of forfeited shares involves a series of journal entries to reflect the process correctly in the companys financial records Forfeited shar......
Q:
Y Ltd. forfeited 1,000 equity shares of 10 each for non-payment of the first call of 2 and the final call of 3 per share. Pass necessary journal entry.
A:
When shares are forfeited due to nonpayment of calls it means that the shareholders have failed to m......
Q:
What are the journal entries to be passed in the books of the company on forfeiture of shares?
A:
When shares are forfeited it means that the shareholder has failed to meet their obligations such as payment of calls as outlined in the companys term......
Q:
Create a STATEMENT OF FINANCIAL POSITON and an INCOME STATEMENT for the Three Great Plumbers, LLP. Peter Pipe, Dick Drane, and Rob Rench each put in $10,000 in cash, $3,000 in tools, and service vans...
A:
Cash Dr Cr Partners capital account 30000 Accounts payable 4000 Se......
Q:
Write a paper about medication error system 2016.
A:
A medication error With these descriptions in mind a medication fault can be definite as a failure in the treatment procedure that leads to or has the impending to lead to damage to the patient A supp......
Derivatives 2nd Edition - ISBN: 1108416209 - Free Book