During 2012 rafael corp produced 54300 units and sold 38010

Assignment Help Accounting Basics

Reference no: EM13483335

During 2012, Rafael Corp. produced 54,300 units and sold 38,010 for $14 per unit. Variable manufacturing costs were $7 per unit. Annual fixed manufacturing overhead was $114,030 ($3 per unit). Variable selling and administrative costs were $3 per unit sold, and fixed selling and administrative expenses were $18,710. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 54,300 units to allocate the fixed overhead rate rather than the actual production volume of 38,010 units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.

Calculate the manufacturing cost per unit.

Reference no: EM13483335

Questions Cloud

Calculate liams savings ratio debt ratio and debt-payments : liam chan is 25 years and a recent graduate of jmsb. he works for the bank of montreal as a junior account manager

Displayed below is the income statement section of info : part 1list the following steps of the accounting cycle in their proper orderanalyzing business transactions.collecting

Suits are often brought against auditors that allege that : suits are often brought against auditors that allege that the auditors did not detect some type of fraud or

Use 2 transactions in recent financial news to illustrate : use 2 transactions in recent financial news to illustrate and explain the roles of financial intermediaries and banks

During 2012 rafael corp produced 54300 units and sold 38010 : during 2012 rafael corp. produced 54300 units and sold 38010 for 14 per unit. variable manufacturing costs were 7 per

What is the present value in dollars of its equity : after all foreign and u.s. taxes a u.s. corporation expects to receive 3 pounds of dividends per share from a british

Calculate annual depreciation for the four-year life of the : speedy delivery company purchases a delivery van for 31000. speedy estimates that at the end of its four-year service

The friendly national bank holds 50 million in reserves : the friendly national bank holds 50 million in reserves atits federal reserve district bank. the required reserves

The net present value method assumes that the projects : the net present value method assumes that the projects cash flows are reinvested at the? a. internal rate of return b.

User Account

All Pages