Question
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 5.00 Direct labor $ 4.25 Variable manufacturing overhead $
Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 5.00 Direct labor $ 4.25 Variable manufacturing overhead $ 1.85 Fixed manufacturing overhead $ 35,000 Sales commissions $ 0.70 Variable administrative expense $ 0.60 Fixed selling and administrative expense $ 9100 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 7000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 7000 units? c. If the selling price is $23.80 per unit, what is the contribution margin per unit sold? (Round your answer to 2 decimal places.) d. If 8000 units are produced, what is the total amount of direct manufacturing cost incurred? e. If 8000 units are produced, what is the total amount of indirect manufacturing costs incurred? a. Total product (manufacturing) cost b. Total period (manufacturing) cost c. 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
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