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Summit Corporation manufactures machines for the apparel industry. The production manager and cost analyst reviewed the accounts for the previous quarter and have provided an
Summit Corporation manufactures machines for the apparel industry. The production manager and cost analyst reviewed the accounts for the previous quarter and have provided an estimated breakdown of the fixed and variable portions of manufacturing overhead: Administration and supervision Engineering and indirect labor Indirect supplies Facilities cost Repair and maintenance Total Fixed $ 33,650 7,300 Variable $ 12,700 Total $ 46,350 60,500 10,800 28,200 136,200 61,100 14,600 67,800 39,000 150,800 79,200 140,300 $ 249,050 $ 195,200 $ 444,250 Direct materials for the quarter amounted to $367,500. Direct labor for the quarter was $728,500. During the quarter, 9,500 units were produced. Required: a. No changes are expected in these cost relations next quarter. The firm has budgeted production of 12,350 units. Provide an estimate for total production cost for next quarter. b. Determine the cost per unit of production for the previous quarter and the estimated cost per unit next quarter. Complete this question by entering your answers in the tabs below. Required A Required B No changes are expected in these cost relations next quarter. The firm has budgeted production of 12,350 units. Provide an estimate for total production cost for next quarter. Note: Do not round intermediate calculations. Cost Item Next Quarter's Cost Direct materials Direct labor Variable overhead Fixed overhead Total costs $ quand A Required B > Summit Corporation manufactures machines for the apparel industry. The production manager and cost analyst reviewed the accounts for the previous quarter and have provided an estimated breakdown of the fixed and variable portions of manufacturing overhead: Administration and supervision Engineering and indirect labor Indirect supplies Facilities cost Repair and maintenance Total Fixed $ 33,650 7,300 Variable $ 12,700 Total $ 46,350 60,500 67,800 10,800 28,200 39,000 136,200 14,600 61,100 79,200 150,800 140,300 $ 249,050 $ 195,200 $ 444,250 Direct materials for the quarter amounted to $367,500. Direct labor for the quarter was $728,500. During the quarter, 9,500 units were produced Required: a. No changes are expected in these cost relations next quarter. The firm has budgeted production of 12,350 units. Provide an estimate for total production cost for next quarter. b. Determine the cost per unit of production for the previous quarter and the estimated cost per unit next quarter Complete this question by entering your answers in the tabs below. Required A Required B Determine the cost per unit of production for the previous quarter and the estimated cost per unit next quarter. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Last quarter Next quarter Cost per Unit Required A inquired fu
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