Yankee Doodle Dandy Candy Company manufactures a single product, an awesome chocolate bar. Last year, the company
Question:
Yankee Doodle Dandy Candy Company manufactures a single product, an awesome chocolate bar. Last year, the company produced 4,000 bars and sold 3,500 of them. They had no candy bars at the beginning of the year. The company has the following costs:
Required:
Calculate the unit product cost, assuming that the company uses variable costing.
Transcribed Image Text:
Variable costs per unit: Production $ 4.00 Selling and administrative $ 1.00 Fixed costs in total: Production $12,000 Selling and administrative $ 8,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
The Unit product cost is 400 per candy bar Only in...View the full answer
Answered By
Deepak Pal
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students. Areas of interest: Business, accounting, Project management, sociology, technology, computers, English, linguistics, media, philosophy, political science, statistics, data science, Excel, psychology, art, history, health education, gender studies, cultural studies, ethics, religion. I am also decent with math(s) & Programming. If you have a project you think I can take on, please feel welcome to invite me, and I'm going to check it out!
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
Question Posted:
Students also viewed these Managerial Accounting questions
-
A company manufactures a single product. The budgeted income statement for the next period, which has been prepared using absorption costing principles, is as follows. S'000 $'000 Sales 4,400...
-
A company manufactures a single product with the following variable costs per unit: Direct materials ...............................7.00 Direct labour ....................................5.50...
-
Senora Company manufactures a single product that sells for $110 per unit. The company projects sales of 500 units per month. Projected costs are as follows: 1. Prepare a contribution margin income...
-
Consider the following molecule: Tin II Chloride(SnCl2) Are the bonds polar or non-polar? Is the molecule polar or non-polar?
-
Eastern States Bank and Trust monitors its drive-thru service times electronically to ensure that its speed of service is meeting the companys goals. A sample of 28 drive-thru times was recently...
-
What do you understand by the systems approach? Explain the management information system contingency approach of management.
-
Explain form drag.
-
Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue...
-
Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $913. Selected data for the company's operations last year follow:...
-
Wood-Mode Company is involved in the design, manufacture, and installation of various types of wood products for large construction projects. Wood-Mode recently completed a large contract for Stadium...
-
How are selling and administrative costs treated under variable costing?
-
Explain why the different financial statements are used in accounting, and what purpose each statement serves.
-
The combustion of 33.5 g C 3 H 6 with 127 g O 2 yields 16.1 g H 2 O. What is the percent yield?
-
The Red Baron is in level flight 1 , 2 7 3 m above the ground traveling at 5 0 0 km / hr when he drops a bone for Snoopy who is on the ground. When does the bone get to the ground ( in seconds ) ?
-
What are the identification of tests of controls and substantive tests for the revenue cycle of Southeast Shoe Distribution, Inc? How can tests of control and substantive tests of the revenue cycle...
-
The Tee Division of D. Marshall Inc. reports current sales of $1,400,000, current operating income of $350,000 and investment turnover of 2. Compute the current value of the Tee Division's invested...
-
A company sells a fire pit for $400 per unit and has $45,000 in fixed costs. The variable cost per unit is $325. What is the net income (loss) if the company sells 542 units?
-
TranscribedText: Intel is currently trading at $34.69, interest rates are currently 5.3%, and 1.5 year call options on Intel with a strike of $37 are trading at an implied vol of 41%. Suppose you...
-
True or False. A company can write off discount on issue of debentures from the revenue profits.
-
You are standing on the top of a building and throw a ball vertically upward. After 2 seconds, the ball passes you on the way down, and 2 seconds after that, it hits the ground below. a. What is the...
-
Two genetically engineered enzymes are produced simultaneously from a series of chemical and biological processes: Q enzyme and Y enzyme. The cost per batch of Q and Y enzymes is $ 200,000, resulting...
-
Sunder manufactures hard rubber pet toys. The purple dog chewy has a variable cost of $ 3.00 per unit. It is produced on a machine that is leased. The three models of this machine have three...
-
WWWeb Marketing is a decentralized firm specializing in designing and operating Internet market-ing Web sites. The firm is four years old and has been growing rapidly, but it only shows a small...
-
Individual Retirement Account (IRA) Bonds Mutual fund Stocks Futures Defined contribution plans What is it? Level of Risk and Potential Return Minimum investment? Easy to start or stop?
-
1. A company purchased machinery in 2015 for $400,000. Its value in 2018 was $320,000. Assuming the resale value decreases exponentially, what will the value be in 2020? As a part of your solution,...
-
ROA of a company is 8.57%, Total assets end of the year of 2021 are $9.6 million, ROE is 14% and Profit margin of 19.9% what is the firms value of net income? and what is stockholders equity?
Study smarter with the SolutionInn App