and selling price
In 2019, Barry Grey Inc. sold 39,000 units at a selling price of $32 per unit. The company manufactured 78,000 units. Variable manufacturing costs were $14 per unit manufactured. Fixed manufacturing costs amounted to $334,000. Variable marketing costs were $5 per unit sold, and the budgeted and actual fixed marketing costs were $40,000. Other fixed operating expenses amounted to $12,000. There was no beginning inventory.
Revenues 95 1248000 Cost of Goods Sold: Beginning Inventory $ 0 Cost of Goods Manufactured $ 1426000 V Less: Ending Inventory $ Cost of Goods Sold $ Gross Margin $ Operating Expenses: Marketing Costs $ Other Fixed Operating Expenses $ $ Income from Operations $ b) Calculate the company's 2019 operating income using variable costing. 1248000 V Revenues Variable Cost of Goods Sold Beginning Inventory Revenues $ 1248000 v Variable Cost of Goods Sold Beginning Inventory $ Cost of Goods Manufactured Less: Ending Inventory Variable Cost of Goods Sold Variable Marketing Costs Contributed Margin Operating Expenses: Fixed Manufacturing Overhead Costs -$ $ 0 1092000 V $ $ $ Fixed Marketing Costs Other Fixed Operating Expenses $ Income from Operations $ Check Mark 029 out of 2.00 Variable Manufacturing Costs per Unit Manufactured $40 7 Flag Variable Advertising Costs per Unit Sold $33 quemlon Fixed Manufacturing Overhead Costs $205,000 Fixed Advertising Costs $115,000 Selling Price per Unit $84 Beginning Inventory (Units) 0 Production Volume 27,000 Sales Volume 16,000 Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. a) Prepare a contribution margin statement for the year using the variable costing method. Marstar Company Contribution Margin Statement For the Year Ending December 31, 2019 Revenues Variable Costs: Beginning Inventory Variable Cost of Goods Manufactured Variable Manufacturing Cost of Goods Sold $ Variable Advertising Costs $ $ Contributed Margin Operating Expenses Fixed Manufacturing Costs $ 205000 V Fixed Advertising Costs $115000 V $ 320000 V Income from Operations $ b) Prepare an income statement for the year using the absorption costing method. Marstar Company Income Statement For the Year Ending December 31, 2019 Revenues Cost of Goods Sold Beginning Inventory Variable Manufacturing Costs Fixed Manufacturing Overhead Costs Question 4 Partially correct Mark 0.33 out of 1.00 '7 Flag question Take me to the text Jessin Limited is considering producing a new line of high quality snowboards. The company will incur $54 in variable product costs for each snowboard produced. Fixed manufacturing overhead costs amount to $201,600. Do not enter dollar signs or commas in the input boxes. Round your answer to 2 decimal places. a) Assume that the company has a policy to set product prices equal to the variable cost plus 74%. Determine how much the company would sell each snowboard for. Selling Price: $ 93.96 V b) Assume that the company has a pricing policy that requires their products to be sold at full cost plus 67%. For the upcoming year, it believes it can produce and sell a total of 5,600 snowboards. Determine how much the company would sell each snowboard for. Full Cost per Unit: EX Selling Price: $ Check Question 5 Take me to the text I t \"come Vido DVD Company (Vido) manufactures portable DVD players. The company requires a 15% rate of return on its 11:31.00 out investments. To start up the business, an investment of $500,000 was required. General and administrative expenses 0 . total $550,000. Each year, the sales volume is equal to 15,000 DVD players, each with a unit product cost of $100. 7 F'f'g Assuming that the company uses the formula method, determine the markup percentage that Vido would apply in a quesnon costplus pricing scheme. Do not enter percentage signs or commas in the input boxes. Round your answer to 2 decimal places. Markup Percentagezmx % Check Note: The "check" button does not submit your attempt.To submit the attempt, go to the end of the quiz and click on the "submit all and finish" button. Marks for this submission: ODD/1.00. I'W investment of $809,000. Lodrobe requires a 26% annual rate of return on the investment. In total, 11,200 wardrobes V Fla}; were produced and sold last year. For the upcoming year, the production and sales volumes are not expected to change quesmn from last year. The following costs are budgeted for the upcoming year: Per Unit Total (11,200 units) Direct Materials $81 Direct Labor Variable Manufacturing Overhead $39 Fixed Manufacturing Overhead $212,800 General and Administrative Expenses $377,000 To price their product, Lodrobe uses the cost-plus pricing method. The company has a policy of using the absorption costing method for assigning costs to inventory and the formula method for determining a markup percentage. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. a) Determine the budgeted full cost of a wardrobe for the upcoming year. Full Cost: $ b) Calculate the markup percentage. Markup Percentage: /o
