Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Leamed Corporation has provided the following information: Cost per Period Cost per Unit $ 5.60 $ 3.90 $ 1.50 Direct materials Direct labor Variable manufacturing

image text in transcribed
Leamed Corporation has provided the following information: Cost per Period Cost per Unit $ 5.60 $ 3.90 $ 1.50 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales comissions Variable administrative expense Fixed selling and administrative expense 5 22,500 $ 0.50 50.40 $ 7,500 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,000 units? c. If the selling price is $2310 per unit, what is the contribution margin per unit sold? (Round your answer to 2 decimal places.) d. 146,000 units are produced, what is the total amount of direct manufacturing cost incurred? e. 116.000 units are produced what is the total amount of indirect manufacturing costs incurred? Total product manufacturing) cost 6. Total period (nonmanufacturing) cost Contribution margin per unit d Total direct manufacturing cost e Total Indirect manufacturing cost

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

Step: 3

blur-text-image

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

Medical Audit In Primary Health Care

Authors: Martin Lawrence, Theo Schofield

1st Edition

0192622676, 978-0192622679

More Books

Students also viewed these Accounting questions