Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general,
Lillibridge & Friends, Incorporated provides you with the following data for its single product: Sales price per unit Fixed costs (per quarter): Selling, general, and administrative (SG&A) Manufacturing overhead Variable costs (per unit): Direct labor Direct materials Manufacturing overhead SG&A Number of units produced per quarter Required: $ 220 1,500,000 4,500,000 25 28 26 22 500,000 units Compute the amounts for each of the following assuming that the production levels are within the relevant range if the number of units Is 500,000 per quarter. Also calculate if the number of units Increases to 600,000 per quarter. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. 500,000 units 600,000 units a. Prime cost per unit $ 53.00 $ 53.00 b. Contribution margin per unit $ 119.00 $ 119.00 c. Gross margin per unit d. Conversion cost per unit e. Variable cost per unit $ 101.00 $ 101.00 f. Full absorption cost per unit g. Variable production cost per unit $ 79.00 $ 79.00 h. Full cost per unit Required Information [The following information applies to the questions displayed below.] Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) $ 95 per unit $ 24,100 $ 9,400 $ 12 $ 23 $ 13 $ 19 21,000 Required: a. Determine the variable manufacturing cost per unit. b. Determine the variable cost per unit. c. Determine the full absorption cost per unit. Note: Round your answer to 2 decimal places. d. Determine the full cost per unit. Note: Round your answer to 2 decimal places. a. Variable manufacturing cost per unit b. Variable cost per unit c. Full absorption cost per unit d. Full cost per unit
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