These four problems are for my Managerial Accounting class, any help would be appreciated.
Problem 1: The following selected information is provided about a manufacturing company. Raw material purchases 400,000 Direct labor 415,000 Overhead applied 730,000 Actual overhead 745,000 Selling and administrative salaries 500,000 Other selling and administrative expenses 185,000 Sales revenue 5,000,000 Inventory data: January 1 December 31 Raw material 75,000 100,000 Work in process 105.000 140,000 Finished goods 120,000 125,000 Calculate the cost of goods sold. Assume that under/over applied overhead is closed directly to cost of goods sold. Problem 2: Suppose that a company sells each unit of its product for $100. The company incur variable product costs amounting to $30 and variable period costs amounting to $20 for cach unit sold. Fixed costs are $300,000. The company desires an after-lax profit of $200,000 and the company's tax rate is 20%. How many units of its product does the company need to sell to achieve this income target? Problem 3: A company sells three different products: Product A, Product B. and Product C. The contribution margin per unit for each of the products is as follows: $30 for Product A, $50 for Product B, and $60 for Product C. The company's sales mix in units is as follows: 50% Product A, 30% Product B, and 20% Product C. The company's fixed costs amount to $1,680,090. How many units of each product must the company sell in order to break even? Problem 4: Tim's Timekeepers Inc. manufactures three types of products: Sundials, Wall Clocks, and Grandfather Clocks. The company uses an activity-based costing system. At the beginning of the year, the company made the following estimates of cost and activity for its three cost pools: Cost Pool Cost Driver Expected Overhead Cost Total Expected Activity Labor-related Direct labor hours $156.200 22,000 hours Clock Face etching | Number of units $89,600 14,000 units General factory Square footage $180,200 170,000 square feet Expected activity for the year was distributed among the company's three products as follows: Expected Activity Cost Pool Cost Driver Sundials Wall Grandfathers Labor-related Direct labor hours 6,000 11,000 5,000 Clock facc etching Number of units 5,000 8,000 1,000 General factory Square footage 30.000 80,090 60,000 Assume the actual amounts equaled the budgeted amounts. If the company uses the activity based costing method, how much of the overhead will be allocated to each of the products