Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Gold Coast Company's total revenues from sales are $ 1 5 0 , 0 0 0 . Gold Coast's direct labor cost is $ 1

Gold Coast Company's total revenues from sales are $150,000. Gold Coast's direct labor cost is $18,000, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $22,500 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs.
Required:
What is the total manufacturing overhead cost?
What is the total direct materials cost?
What is the total manufacturing cost?
What is the total variable selling and administrative cost?
What is the total variable cost?
What is the total fixed cost?
What is the total contribution margin?
\table[[,],[1.,Total manufacturing overhead cost],[2.,Total direct materials cost],[3.,Total manufacturing cost],[4.,Total variable selling and administrative cost],[5.,Total variable cost],[6.,Total fixed cost],[7.,Total contribution margin]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

9th Edition

978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475

More Books

Students also viewed these Accounting questions

Question

What is Ramayana, who is its creator, why was Ramayana written?

Answered: 1 week ago

Question

To solve by the graphical methods 2x +3y = 9 9x - 8y = 10

Answered: 1 week ago

Question

Why does sin 2x + cos2x =1 ?

Answered: 1 week ago

Question

What are DNA and RNA and what is the difference between them?

Answered: 1 week ago