Exercise 19-17 Polk Company builds custom fishing lures for sporting goods store
ID: 2477145 • Letter: E
Question
Exercise 19-17 Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs. Variable Cost per Unit Direct materials $7.88 Direct labor $2.57 Variable manufacturing overhead $6.04 Variable selling and administrative expenses $4.10 Fixed Costs per Year Fixed manufacturing overhead $245,273 Fixed selling and administrative expenses $252,105 Polk Company sells the fishing lures for $26.25. During 2012, the company sold 80,500 lures and produced 94,700 lures. Collapse question part (a) Incorrect answer. Your answer is incorrect. Try again. Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.) Manufacturing cost per unit $ Entry field with incorrect answer now contains modified data
Brief Exercise 21-1 For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $320,500 budget; $335,000 actual. Prepare a static budget report for the quarter. MARIS COMPANY Sales Budget Report For the Quarter Ended March 31, 2012, Product Line Budget Actual Difference Garden-Tools
Brief Exercise 21-4 Gundy Company expects to produce 1,213,320 units of Product XX in 2012. Monthly production is expected to range from 77,530 to 113,670 units. Budgeted variable manufacturing costs per unit are: direct materials $5, direct labor $6, and overhead $11. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $2. Prepare a flexible manufacturing budget for the relevant range value using 18,070 unit increments. (List variable costs before fixed costs.) GUNDY COMPANY Monthly Flexible Manufacturing Budget For the Year 2012
The above question is considered as one.
Explanation / Answer
Answer:19-17
Polks amnufacturing cost per unit consists of:
Direct material = $7.88
Direct labor = $2.57
Variable manufacturing overhead = $6.04
Total = $16.49
Answer:21-1
Answer:21-4
Working notes:
Depreciation = 1213320*$5/12 months =505550
Supervision= 1213320*$2/12 months = 202220
For the quarter ended March 31, 2012 Product line Budgeted Actual Difference Garden tool $ 3,20,500.00 $ 3,35,000.00 $ -14,500.00Related Questions
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