Question
Learned Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and
Learned Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit Cost per Period $ 5.70 $3.95 $ 1.55 a. Total product cost b. Total period cost c. Contribution margin per unit d. Total direct manufacturing cost e. Total indirect manufacturing cost $ 0.60 $ 0.50 $ 20,000 $ 7,000 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 $23.20 per unit, what is the contribution margin per unit sold? (Round your answer to 2 decimal pl d. If 6,000 units are produced, what is the total amount of direct manufacturing cost incurred? e. If 6,000 units are produced, what is the total amount of indirect manufacturing costs incurred?
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