Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Learned Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 12.00 Direct labor $ 7.60 Variable manufacturing overhead $

Learned Corporation has provided the following information:
Cost per Unit    Cost per Period
Direct materials $ 12.00
Direct labor $ 7.60
Variable manufacturing overhead $ 3.80
Fixed manufacturing overhead $ 65,000
Sales commissions $ 0.75
Variable administrative expense $ 1.20
Fixed selling and administrative expense $ 15,000

Required:
a. For financial reporting purposes, what is the total amount of product costs incurred to make 8,000 units?
b. For financial reporting purposes, what is the total amount of period costs incurred to sell 8,000 units?
c. If the selling price is $40.00 per unit, what is the contribution margin per unit sold?
d. If 9,000 units are produced, what is the total amount of direct manufacturing cost incurred?
e. If 9,000 units are produced, what is the total amount of indirect manufacturing costs incurred?

Step by Step Solution

3.41 Rating (167 Votes )

There are 3 Steps involved in it

Step: 1

a Dirut Matuials 9 6000 800012 Dinut labor 60 800 8000 x76 Ovuhead BRu Finea mannyfathring Vaiale ... 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

Financial Accounting and Reporting

Authors: Barry Elliott, Jamie Elliott

14th Edition

978-0273744535, 273744445, 273744534, 978-0273744443

More Books

Students also viewed these Accounting questions

Question

Draw the binary search tree after removing node 12. DE OLD @

Answered: 1 week ago