ACC 561 Week 5 Wiley Plus Assignment - PHD ONLY

ACC 561 Week 5 Assignment Questions

Brief Exercise 18-8

Meriden Company has a unit selling price of $690, variable costs per unit of $345, and fixed costs of $247,710. 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 $170,200. Management’s net income goal is $126,887. Compute the required sales in dollars needed to achieve management’s target net income of $126,887.

Required sales

$

Brief Exercise 18-11

For Kozy Company, actual sales are $1,224,000 and break-even sales are $795,600. 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		$14,517
Direct labor		$25,411
Fixed manufacturing overhead		$9,812
Variable manufacturing overhead		$32,169
Selling costs		$20,866

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 $7.80 Direct labor $2.55 Variable manufacturing overhead $5.98 Variable selling and administrative expenses $4.06   Fixed Costs per Year Fixed manufacturing overhead $244,664 Fixed selling and administrative expenses $249,704 Polk Company sells the fishing lures for $26.00. During 2012, the company sold 80,200 lures and produced 95,200 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 $ LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 3 used   SAVE FOR LATER SUBMIT ANSWER (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above.

Brief Exercise 21-1

For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $318,100 budget; $327,500 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 1,205,400 units of Product XX in 2012. Monthly production is expected to range from 79,810 to 117,990 units. Budgeted variable manufacturing costs per unit are: direct materials $5, direct labor $6, and overhead $11. Budgeted fixed manufacturing costs per unit for depreciation are $6 and for supervision are $2. Prepare a flexible manufacturing budget for the relevant range value using 19,090 unit increments.  (List variable costs before fixed costs.)

GUNDY COMPANY Monthly Flexible Manufacturing Budget For the Year 2012
	$	$	$
	$	$	$
	$	$	$