Analyze all cost and expense factors to determine a general

Assignment Help Cost Accounting
Reference no: EM132659887

Longboat Manufacturing produces a single product requiring the following direct material and direct labor: Manufacturing overhead consists of indirect materials, $0.60 per unit of product; indirect labor, $1,000 per month plus $0.75 per unit of product; factory maintenance, $17,000 per year plus $0.65 per unit of product; factory depreciation, $18,000 per year; and annual factory property taxes, $10,000 Selling and administrative expenses include the salaries of a sales manager, $40,000 per year; an office manager, $22,000 per year; and two salespersons, each of whom is paid a base salary of $15,000 per year and a commission of $4 per unit sold. Advertising and promotion of the product are done through a year-round media package program costing $1,500 per week.

Problem a. Analyze all cost and expense factors to determine a general formula (based on units of production) for total cost. Round variable cost per unit answers to two decimal places, if applicable.

Reference no: EM132659887

Questions Cloud

Explain confidentiality and privacy rights : What are 4 ethical dilemmas related to confidentiality and privacy rights?
What will be the estimated residual earnings : What will be the estimated residual earnings for 2019 and 2020, respectively? Suppose you forecast a firm's comprehensive earnings to be $16 million
Contrast argument of diderot with eb tylor and morgan : Compare and contrast the argument of Diderot with EB Tylor and Morgan.
Contrast various theories associated with crime causation : Compare and contrast the various theories associated with crime causation, and provide supporting information and/or evidence as to the theory that seems most.
Analyze all cost and expense factors to determine a general : Analyze all cost and expense factors to determine a general formula (based on units of production) for total cost. Round variable cost per unit
Find what will be the roce : Forecasted dividend payment will be $0.25 million in both 2019 and 2020. ABC has a required return of 10%. What will be the ROCE for 2020?
Analysing social stratification regarding inequality : What are the theoretical perspectives that explain the social behaviors that perpetuate inequality with education?
Discuss three areas of opportunities for improvement : Discuss three areas of opportunities for improvement (i.e., obstacles or challenges) you must address to reach your goals. Include examples to support each.
What incentives will the create for the supervisors : DYSHA budgeted, What incentives will this create for the supervisors? What modifications could DYSHA directors make to improve the plan?

Reviews

Write a Review

Cost Accounting Questions & Answers

  What is the project net present value

East Coast Television is considering a project with an initial outlay of $X (you will have to determine this amount). It is expected that the project will produce a positive cash flow of $59,000 a year at the end of each year for the next 16 years..

  Find the percentage of completion for the current period

In a given process costing system, Find the percentage of completion for the current period is necessary for the calculation of the.

  Compute the unit product cost of each product

Determine the activity rate (i.e., predetermined overhead rate) for each of the four activity cost pools. (Round your answer to 2 decimal places. Omit the "$" sign in your response. and compute the unit product cost of each product. (Round your ans..

  What is the net present value of the proposed investment

Considering the cash flow impact of the equipment as well as the time-value of money, would you recommend that ABC Company purchases the equipment? Why or why not?

  What are the total cost of work in process

What are the total cost of work in process and the cost of goods manufactured? In what order should manufacturing inventories be listed in a balance sheet?

  How to modify the cost accounting system

How to modify the cost accounting system to more accurately reflect AOE's new production processes? Calculate the predetermined overhead rate.

  Calculate the amount of income from the partnership

Quince Interests is a partnership with a tax year that ends September 30, 2012. During that year, Potter, a partner, received $3,000 per month as a guaranteed payment, and his share of partnership income after guaranteed payments was $23,000.

  Calculate the budgeted cost of direct labor for the month

The budgeted production of Taurus Inc. is 8,000 units per month. Each unit requires 40 minutes of direct labor to complete. The direct labor rate is $100 per hour. Calculate the budgeted cost of direct labor for the month.

  What is journal entry that would record this transaction

Find what is journal entry that would record this transaction - evaluate the Book Value of each of its fixed assets and make decisions regarding the purchases, disposition of various assets and trades.

  Prepare a merchandise purchases budget

Prepare a Merchandise Purchases Budget for November and December. (Input all amounts as positive values. Omit the "tiny_mce_markerquot; sign in your response.)

  Which of following is not a change in accounting principle

Which of the following is the proper time period in which to record a change in accounting estimate?

  Calculate the cost of goods available for sale

Calculate the cost of goods available for sale. Prepare the journal entries to record the two transactions in May using the FIFO costing method.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd