Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me with this questions! thanks 1. Calculate the Cost of Goods Manufactured. Use the following amounts: direct materials used ($23,000), direct labor ($14,000),
Please help me with this questions! thanks
1. Calculate the Cost of Goods Manufactured. Use the following amounts: direct materials used ($23,000), direct labor ($14,000), manufacturing overhead ($19,000), beginning work in process inventory ($1,000), and ending work in process inventory ($10,000). 2. Car - USA spent $220 million in total to produce 20,000 cars this year. The $220 million breaks down as follows: The company spent $40 million on fixed costs to run its manufacturing plants and $9,000 of variable costs to produce each car. Next year, it plans to produce 30,000 cars using the existing production facilities. Read the requirements related to Car - USA. Requirement 1. Calculate the Cost of Goods Manufactured. Use the following amounts: direct materials used ($23,000), direct labor ($14,000), manufacturing overhead ($19,000), beginning work in process inventory ($1,000), and ending work in process inventory ($10,000). Calculation of Cost of Goods Manufactured Requirement 2a. What is the current average product cost per car this year? Determine the formula, then calculate the current average product cost per unit. (Enter your answer to the nearest dollar.) Requirement 2b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 30,000 cars next year? Determine the formula, then calculate the total forecasted costs. Requirement 2c. What is the forecasted average product cost per car next year? Determine the formula, then calculate the forecasted average product cost per unit. (Round your answer to the nearest whole dollar.) Requirement 2d. Why does the average product cost per car vary between years? \begin{tabular}{rlrc} & \multicolumn{1}{c}{=} & Current average product cost \\ million 1 & = & per car \end{tabular} Requirement 2b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 30,000 cars next year? Determine the formula, then calculate the total forecasted costs. Requirement 2c. What is the forecasted average product cost per car next year? Determine the formula, then calculate the forecasted average product cost per unit. (Round your answer to the nearest whole dollar.) Requirement 2d. Why does the average product cost per car vary between years? The average product cost per car because Car - USA will use fixed costs to produce cars next year. Car - USA will be using its resources efficiently, so the average cost per unit will Requirements (Car-USA) a. What is the current average product cost per car this year? b. Assuming there is no change in fixed costs or variable costs per unit, what is the total forecasted cost to produce 30,000 cars next year? c. What is the forecasted average product cost per car next year? d. Why does the average product cost per car vary between yearsStep 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