Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In the month of September, Matlock Industries sold 800 units of product. The average sales price was $30. During the month, fixed costs were $6,300
In the month of September, Matlock Industries sold 800 units of product. The average sales price was $30. During the month, fixed costs were $6,300 and variable costs were 70% of sales. Determine the contribution margin in dollars, per unit, and as a ratio. Contribution margin (in dollars) $ Unit contribution margin $ Contribution margin ratio % eTextbook and Media Using the contribution margin technique, compute the break-even point in dollars and in units. Break-even sales (in dollars) $ Break-even sales (in units) units Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Variable power costs $ per factory machine hour eTextbook and Media What is the estimated fixed power cost each month? If it is estimated that 10,000 factory machine hours will be run in July, what is the expected total power cost for July? Total power cost
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started