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ACC 561 Week 5 Wiely Plus Assignment

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ACC 561 Week 5 Weily Plus Assignment

 

Brief Exercise 18-8Meriden Company has a unit selling price of $550, variable costs per unit of $330, and fixed costs of $177,100.Compute the break-even point in units using the mathematical equation.

Brief Exercise 18-10

For Turgo Company, variable costs are 62% of sales, and fixed costs are $172,900. Management’s net income goal is $76,684.

Compute the required sales in dollars needed to achieve management’s target net income of $76,684.

 

Brief Exercise 18-11

For Kozy Company, actual sales are $1,235,000 and break-even sales are $741,000.

Compute the margin of safety in dollars and the margin of safety ratio.

 

Brief Exercise 19-16

 

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.Polk Company sells the fishing lures for $26.75. During 2012, the company sold 80,000 lures and produced 94,700 lures.
*(a)

Your answer is correct.

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.)

*(b)

Your answer is correct.

Prepare a variable costing income statement for 2012.

POLK COMPANY

Income Statement

For the Year Ended December 31, 2012

Variable Costing

Sales

$ 2140000

Attempts: 1 of 3 used
*(c)

Your answer is correct.

Assuming the company uses absorption costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)

Manufacturing cost per unit

$ 19.44

Attempts: 1 of 3 used
*(d)

Your answer is correct.

Prepare an absorption costing income statement for 2012.

 

 

 

Brief Exercise 21-1

Your answer is correct.

For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $317,900 budget; $340,000 actual.

Prepare a static budget report for the quarter.

 

Brief Exercise 21-4

Your answer is correct.

Gundy Company expects to produce 1,203,600 units of Product XX in 2012. Monthly production is expected to range from 71,910 to 113,870 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $6, and overhead $10.

Prepare a flexible manufacturing budget for the relevant range value using 20,980 unit increments. (List variable costs before fixed costs.)

 

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