Question

Amy own a lemonade stand. The unit of production is 30,000 units, Sale units =2,000, selling...

Amy own a lemonade stand. The unit of production is 30,000 units, Sale units =2,000, selling price=$60 per unit, Variable Cost: $50 per unit, Selling and Administrative cost = $40 per unit, fixed cost= $ 150,000

  1. Cost per unit—variable costs per unit only, and fixed costs with an assumed level of production.
  2. Sales price per unit
  3. Selling and Administrative costs-- variable costs per unit only, and fixed costs with the same assumed level of production that was used in #1.
  4. Breakeven point in units and in dollars.
  5. CVP income statement using an assumed level of sales that does not exceed the assumed level of production used in #1.

Homework Answers

Answer #1

Answer is as under

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A company has $25 per unit selling price, $7.00 per unit in variable production cost and...
A company has $25 per unit selling price, $7.00 per unit in variable production cost and $2.00 per unit in variable selling and administrative cost. The annual fixed production cost is $400,000. The annual fixed selling and administrative cost is $50,000. Complete the table below for each year. Assume a FIFO flow. 2016 Units Produced 120,000 Units Sold 110,000 1- Operating income under variable costing 2- Operating income under absorption costing
American Apparel, Inc. has fixed annual operating costs of $325,000. The average selling price per                         unit...
American Apparel, Inc. has fixed annual operating costs of $325,000. The average selling price per                         unit is $45.00and the variable cost per unit is $34.00.  Based on this information, calculate the                         breakeven sales level in units.
. Union Company reported the following information about the production and sale of its only product...
. Union Company reported the following information about the production and sale of its only product during the first month of operations: Selling price per unit                                                      $225.00 Sales                                                                                 $315,000 Direct materials used                                                    $160,000 Direct labor                                                                    $100,000 Variable factory overhead                                             $60,000 Fixed factory overhead                                                   $80,000 Variable selling and administrative expenses            $20,000 Fixed selling and administrative expenses                 $30,000 Production volume variance                                                    0 Ending inventory, Direct Materials                                         0 Ending inventory, Work-in-process                                        0 Ending inventory, Finished Goods                           600 units Under absorption costing, what is...
Grover Company has the following data for the production and sale of 2,600 units.    Sales...
Grover Company has the following data for the production and sale of 2,600 units.    Sales price per unit $ 800 per unit Fixed costs: Marketing and administrative $ 390,000 per period Manufacturing overhead $ 325,000 per period Variable costs: Marketing and administrative $ 45 per unit Manufacturing overhead $ 75 per unit Direct labor $ 115 per unit Direct materials $ 260 per unit What is the full cost per unit of making and selling the product? Multiple Choice...
Elhard Company produces a single product. The cost of producing and selling a single unit of...
Elhard Company produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 40,000 units per month is as follows: Direct materials...................................................... $18.00 Direct labor.......................................................... $6.80 Variable manufacturing overhead.......................... $2.40 Fixed manufacturing overhead............................. $11.60 Variable selling and administrative expense.......... $1.90 Fixed selling and administrative expense............. $5.10 The normal selling price of the product is $51.10 per unit. An order has been received from an overseas customer for 2,000...
Risk assessment calculations Baseline information: 40,000 units sold at a unit selling price of $100, variable...
Risk assessment calculations Baseline information: 40,000 units sold at a unit selling price of $100, variable costs of $80 per unit, fixed costs of $750,000 1. Calculate the contribution margin per unit in dollars and as a percentage 2. Prepare a financial report in the contribution margin format Calculate the breakeven point in dollars and unit sales 4. Prove the validity of the breakeven calculation by preparing a financial report using the contribution margin format 5. Calculate the performance level...
The following are Hibiscus Company's cost of making and selling an item Amount per unit $...
The following are Hibiscus Company's cost of making and selling an item Amount per unit $ 9 Description Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative Fixed selling and administrative A one-time-only special order has been received for 600 units. The company has the capacity to accept the order and it would not affect regular sales. The sales price for the special order is $ 26 per unit. Total fixed costs would not be...
Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and...
Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 6.10 Direct labor $ 3.60 Variable manufacturing overhead $ 1.40 Fixed manufacturing overhead $ 4.00 Fixed selling expense $ 3.10 Fixed administrative expense $ 2.10 Sales commissions $ 1.10 Variable administrative expense $ 0.55 13. If the selling price is $22.10 per unit, what is the...
Malfoy has the following information available: Direct Materials $18.00 per unit; Direct labor $32.00 per unit;...
Malfoy has the following information available: Direct Materials $18.00 per unit; Direct labor $32.00 per unit; Variable Overhead $6.00 per unit; Variable Selling & Administrative $4.00 per unit; Fixed overhead costs $600,000 annually; and fixed selling and administrative costs $150,000 annually. Selling price is $80.00 per unit. Malfoy is currently selling 50,000 units. An assistant manager claims that if selling price were decreased by $5 per unit, the units sales could be increased by 20,000 units, but fixed costs would...
Grange manufacturing company had net income of $300,000 in 2017 when the selling price per unit...
Grange manufacturing company had net income of $300,000 in 2017 when the selling price per unit was $200 and data for variable and fixed costs were as follows:   Cost Schedule: Variable Costs: Direct Material $28 Direct Labour $35 Variable Manufacturing Overhead $17 Total $80 Fixed Costs: Manufacturing Overhead $225,000 Advertising 45,000 Administrative 150,000 Total $420,000 Required: Using the sales units calculated in (i), Construct a breakeven chart for Grange Manufacturing company, clearly showing the breakeven point and the margin of...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT