None Chapters 22-24 and Appendices D and BSavedHelpSave & Ex5Hoops Incorporated sells basketballs. Each basketball requires direct materials of $10.00, direct labor of $3.50, variable overhead of $4.50, and variable selling, general, and administrative costs of $2.00. Thecompany has fixed overhead of $26,500 and fixed selling, general, and administrative costs of $33,500. The company has a target profit of $20,000. It expects to produce and sell 20,000 basketballs. The sellingprice per unit under the variable cost method is:02Multiple ChoiceОOOO$16.$20.$24.$28.30.

Detailed explanation:Variable costs per unit : Direct materials$ 10.00Direct labor 3.50Variable…

Answered: Chapters 22-24 and Appendices D and B…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and storing goods. Receiving and assembly are necessary activities; expediting and storing goods are unnecessary. The following data pertain to the four activities for the year ending 20x1 (actual price per unit of the activity driver is assumed to be equal to the standard price): Activity Activity Driver SQ AQ SP Receiving Receiving orders 12,000 18,000 $21 Assembly Labor hours 75,000 90,000 15 Expediting Orders expedited 0 6,000 50 Storing Number of units 0 12,000 7 Assume that at the beginning of 20x2, Cicleta trained the assembly workers in a new approach that had the objective of increasing the efficiency of the assembly process. Cicleta also began moving toward a JIT purchasing and manufacturing system. When JIT is fully implemented, the demand for expediting is expected to be virtually eliminated. It…
Mala Company has 2 product lines, Basic and Premium. It produces 2,000 units of Basic and 4,000 units of Premium. Basic uses $5 per DL per unit. Premium uses $10 of DL per unit. Total manufacturing overhead costs (shared by Basic and Premium) are $75,000. What is the allocated manufacturing overhead costs to Premium? (Use DL$s the allocation base). $15,000 $25,000 $50,000 $60,000
Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and storing goods. Receiving and assembly are necessary activities; expediting and storing goods are unnecessary. The following data pertain to the four activities for the year ending 20x1 (actual price per unit of the activity driver is assumed to be equal to the standard price): Activity Activity Driver SQ AQ SP Receiving Receiving orders 13,600 16,500 $24 Assembly Labor hours 69,000 82,500 17 Expediting Orders expedited 0 5,500 57 Storing Number of units 0 11,000 8 Assume that at the beginning of 20x2, Cicleta trained the assembly workers in a new approach that had the objective of increasing the efficiency of the assembly process. Cicleta also began moving toward a JIT purchasing and manufacturing system. When JIT is fully implemented, the demand for expediting is expected to be virtually eliminated. It…
1. Allocating activity cost pools to products Burgandy Corporation makes plastic and wooden picture frames. The company has assigned $107,000 in monthly manufacturing overhead costs to two cost pools as follows: $67,000 to power costs, and $40,000 to production set-up costs. Additional monthly data are provided below: Sales revenue Direct materials.. Direct labor.... Machine hours.. Production runs Units produced and sold. Plastic Wooden Frames Frames $254,000 $179,000 $101,000 $38,360 $53,360 $92,720 107,420 7,580 35 29,000 65 59,000 Power costs are allocated to products using machine hours as an activity base. Set-up costs are allocated to products based on the number of production runs each product line requires. (a) Allocate manufacturing overhead from the activity cost pools to each product line. (b) Compare the total per-unit cost of manufacturing plastic frames and wooden frames. (c) On a per-unit basis, which product line appears to be most profitable?
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