Maxwell Company manufacturing office printers, the following information is available for the year 2012 is regards to their operations.
Manufacturing information:
Number of table manufactured were; 10,000
Material information; $300,000
Total material cost:
Direct labor cost $450,000
Total labor cost $450,000
Manufacturing overhead information;
Total overhead cost $600,000
Total fixed overhead $375,000
Total variable overhead $225,000
Selling, General and Administrative Expenses
Selling Expenses:
Total fixed costs $125,000
Variable cost per unit sold $6.75
General Expenses;
Total fixed costs $200,000
Variable cost per unit sold $8.00
Administrative Expenses;
Total fixed costs $100,000
Variable cost per unit sold $5.00
During the year 2012, there were 9,600 printers sold at a unit sales price of $210 per printer.
Required:
Compute the unit manufacturing cost of a printer under the direct (variable) costing method.
Compute the unit manufacturing cost of a printer under the full absorption costing method.
Prepare an external (traditional) income statement under absorption costing.
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