6. Universal Specialty Group produces a sports theme chair. The following information has been provided by management: Selling price $550 per unit Variable manufacturing costs $50 per unit Direct materials $90 per unit Variable administrative costs $25 per unit Budget production 12,000 units Fixed manufacturing overhead $60 per unit Actual sales 10,000 units Fixed administrative costs $200,000 Variable manufacturing costs includes direct labour and variable overhead. Actual production is the same as budget production. Required: (a) Compute the Gross Profit under absorption costing. (4 marks) (b) Compute the Contribution Margin and Net Profit under variable costing. (6 marks) (c) Compute the Throughput Margin and the Net Prot under throughput costing. (5 marks) Roundup Corp's cost of goods sold for the year totaled $259,000. Beginning and ending finished-goods inventories were $47,000 and $3 6,000, respectively. Roundup's sales revenue for the year was $488,000 and its operating expenses were $110,000. Required: What is the cost of goods manufactured (COGM)? (2 marks) Dartmouth Corporation manufactures two models of ofce chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Product N 0. of Setups No. of Components Direct Labour Hours Standard 18 9 275 Deluxe 32 14 215 Setup Costs Component Costs Overhead costs $75,000 $87,400 Required: Number of setups and number of components are identied as activity-cost drivers for the respective overhead costs. Assuming an activity-based costing system is used, what is the total Setup costs assigned to the standard model? (2 marks) The Alfarm Corporation processes raw milk up to the split-off point where two products, cream and liquid skim, are produced and sold. There was no beginning inventory. The following material was collected for the month of February: Production : Cream 445,000 liters Liquid skim 293,000 liters Selling price : Cream $1 1 per liter Liquid skim $10 per liter The cost of purchasing direct materials and processing it up to the split-off point was $2,350,000. Required: When using the relative sales-value method, what is Cream's approximate joint cost per liter? (Round your nal answer to 2 decimal place)