Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget $3,392,000 $384,000 704,000 448,000 184,000 1,720,000

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following. Fixed Budget $3,392,000 $384,000 704,000 448,000 184,000 1,720,000 1,672,000 Sales (16,000 units * $212 per unit) Cost of goods sold Direct materials Direct labor Production supplies Plant manager salary Gross profit Selling expenses Sales commissions Packaging Advertising Administrative expenses Administrative salaries Depreciation office equip. Insurance Office rent Income from operations 144,000 240,000 100,000 484,000 234,000 204,000 174,000 184,000 796,000 392,000 (1) Compute the total variable cost per unit. (2) Compute the total fixed costs. (3) Compute the income from operations for sales volume of 14,000 units. (4) Compute the income from operations for sales volume of 18,000 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the total variable cost per unit. Variable cost per unit $ 54 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the total fixed costs. Total fixed costs Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the income from operations for sales volume of 14,000 units. Income from operations at sales of 14,000 units Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the income from operations for sales volume of 18,000 units. Income from operations at sales of 18,000 units Required information (The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $9 per lb. 3 hrs. @ $16 per hr. 3 hrs. @ $11 per hr. Actual 46,100 lbs. @ $9.20 per lb. 22,500 hrs. @ $16.50 per hr. $ 255,900 7,600 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance $ 4,730 Favorable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Sound Investing, Chapter 7 - Cash Versus Accrual

Authors: Kate Mooney

1st Edition

0071719296, 9780071719292

More Books

Students also viewed these Accounting questions

Question

review and discuss the limitations of strategic analysis.

Answered: 1 week ago