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ACC 561 Week 5 Assignment WileyPLUS .pdf



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ACC 561 Week 5 Assignment WileyPLUS
Check this A+ tutorial guideline at
http://www.acc561assignment.com/ACC-561/ACC-561Week-5-Assignment-WileyPLUS

Brief Exercise 18-8
Meriden Company has a unit selling price of $590, variable costs per unit of $354, and
fixed costs of $203,432.
Compute the break-even point in units using the mathematical equation.
Break-even point
units
Brief Exercise 18-10
For Turgo Company, variable costs are 57% of sales, and fixed costs are $178,700.
Management’s net income goal is $82,525.
Compute the required sales in dollars needed to achieve management’s target net income
of $82,525.
Required sales
$

Brief Exercise 18-11
For Kozy Company, actual sales are $1,270,000 and break-even sales are $825,500.
Compute the margin of safety in dollars and the margin of safety ratio.
Margin of safety
$
Margin of safety ratio
%

Brief Exercise 19-16
Montana Company produces basketballs. It incurred the following costs during the year.
Direct materials
$14,283
Direct labor
$25,755
Fixed manufacturing overhead
$10,420
Variable manufacturing overhead
$32,191
Selling costs
$20,932
What are the total product costs for the company under variable costing?
Total product costs
$

Exercise 19-17
Polk Company builds custom fishing lures for sporting goods stores. In its first year of
operations, 2012, the company incurred the following costs.
Variable Cost per Unit
Direct materials
$8.25
Direct labor
$2.70
Variable manufacturing overhead
$6.33
Variable selling and administrative expenses
$4.29
Fixed Costs per Year
Fixed manufacturing overhead
$260,032
Fixed selling and administrative expenses
$264,110
Polk Company sells the fishing lures for $27.50. During 2012, the company sold 81,100
lures and produced 95,600 lures.
a.) Assuming the company uses variable costing, calculate Polk’s manufacturing cost per
unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)
Manufacturing cost per unit
$

(b.) Prepare a variable costing income statement for 2012.
(C.) Assuming the company uses absorption costing, calculate Polk’s manufacturing cost
per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)
Manufacturing cost per unit
$
(D.) Prepare an absorption costing income statement for 2012.

Brief Exercise 21-1
For the quarter ended March 31, 2012, Maris Company accumulates the following sales
data for its product, Garden-Tools: $329,400 budget; $330,600 actual.
Prepare a static budget report for the quarter.
MARIS COMPANY
Sales Budget Report
For the Quarter Ended March 31, 2012
Product Line
Budget
Actual
Difference
Garden-Tools
$
$
$

Brief Exercise 21-4
Gundy Company expects to produce 1,276,560 units of Product XX in 2012. Monthly
production is expected to range from 85,120 to 130,440 units. Budgeted variable
manufacturing costs per unit are: direct materials $3, direct labor $7, and overhead $10.
Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision
are $2.
Prepare a flexible manufacturing budget for the relevant range value using 22,660 unit
increments. (List variable costs before fixed costs.)

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