Question

Fanning Corporation incurs the following annual fixed costs: Item Cost Depreciation $ 80,000 Officers’ salaries 190,000...

Fanning Corporation incurs the following annual fixed costs: Item Cost Depreciation $ 80,000 Officers’ salaries 190,000 Long-term lease 42,000 Property taxes 48,000 Required Determine the total fixed cost per unit of production, assuming that Fanning produces 4,000, 4,500, or 5,000 units.

Homework Answers

Answer #1
Item Cost
Depreciation $80,000
Officers’ salaries 190,000
Long-term lease    42,000
Property taxes    48,000
Total Fixed Cost $     360,000
Total Fixed Cost $360,000 $360,000 $360,000
÷ Units of production 4000 4500 5000
Fixed cost per unit $          90.00 $     80.00 $     72.00
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
Con Ram Industries incurs the following costs during the current year: Depreciation of machinery………… $15,000 Direct...
Con Ram Industries incurs the following costs during the current year: Depreciation of machinery………… $15,000 Direct labor……………………… 6,000 Direct materials…………………… 4,000 Executive salaries………………… 20,000 Insurance………………………… 2,000 Rent on building………………… 8,000 Factory supplies…………………… 10,000 Vehicle lease cost………………… 5,000 Sales for the year were $80,000 and Con Ram determined that only the direct production costs and factory supplies are to be classified as variable costs; all other costs are classified as fixed costs. Con Ram sold 400 units. (a) Calculate the unit...
Listed here are the total costs associated with the production of 1,000 drum sets manufactured by...
Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $578 each.    Costs 1. Plastic for casing—$16,000 2. Wages of assembly workers—$85,000 3. Property taxes on factory—$4,000 4. Accounting staff salaries—$42,000 5. Drum stands (1,000 stands purchased)—$38,000 6. Rent cost of equipment for sales staff—$48,000 7. Upper management salaries—$220,000 8. Annual flat fee for factory maintenance service—$15,000 9. Sales commissions—$22 per unit 10. Machinery depreciation, straight-line—$45,000 Required:...
Exercise 22-3 Family Furniture Corporation incurred the following costs. Identify the below costs as variable, fixed,...
Exercise 22-3 Family Furniture Corporation incurred the following costs. Identify the below costs as variable, fixed, or mixed. 1. Wood used in the production of furniture. 2. Fuel used in delivery trucks. 3. Straight-line depreciation on factory building. 4. Screws used in the production of furniture. 5. Sales staff salaries. 6. Sales commissions. 7. Property taxes. 8. Insurance on buildings. 9. Hourly wages of furniture craftsmen. 10. Salaries of factory supervisors. 11. Utilities expense. 12. Telephone bill.
From the following data, prepare a statement of cost of goods manufactured for the year ended...
From the following data, prepare a statement of cost of goods manufactured for the year ended June 30, 2019: Factory depreciation.................................................... $ 12,000   Direct materials issued............................................... $ 50,000 Direct labor...................................................................... $ 80,000 Indirect labor................................................................... $ 42,000   Sales salaries................................................................... $ 48,000 Factory supplies used.................................................. $   5,000   Factory utilities............................................................. $ 24,000 Factory property taxes............................................... $ 11,000   Work in process inventory on July 1, 2018........ $ 22,000 Work in process inventory on June 30, 2019.... $ 24,000   Finished goods inventory on July 1,...
Cardiv Corporation has provided the following production and average cost data for two levels of monthly...
Cardiv Corporation has provided the following production and average cost data for two levels of monthly production volume. The company produces a single product. Production volume 4,000 units 5,000 units Direct materials $85.80 per unit $85.80 per unit Direct labor $56.10 per unit $56.10 per unit Manufacturing overhead $73.60 per unit $62.10 per unit Using the high-low method to calculate the variable and fixed manufacturing overhead, and to then be added to the direct material and direct labor costs, the...
Exercise 18-6 (Part Level Submission) PCB Corporation manufactures a single product. Monthly production costs incurred in...
Exercise 18-6 (Part Level Submission) PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for the production of 3,144 units. The utilities and maintenance costs are mixed costs. The fixed portions of these costs are $314 and $210, respectively. Production in Units 3,144 Production Costs Direct materials $7,860 Direct labor 18,864 Utilities 2,201 Property taxes 1,048 Indirect labor 4,716 Supervisory salaries 1,991 Maintenance 1,153 Depreciation 2,515 (a) Your answer is correct. Identify...
eBook Calculator Print Item Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of...
eBook Calculator Print Item Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 8,200 hours. Variable costs:    Indirect factory wages $23,780    Power and light 15,006    Indirect materials 11,726     Total variable cost $50,512 Fixed costs:    Supervisory salaries $13,580    Depreciation of plant and equipment 34,830    Insurance...
[The following information applies to the questions displayed below.] Listed here are the total costs associated...
[The following information applies to the questions displayed below.] Listed here are the total costs associated with the 2017 production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $459 each. Costs 1. Plastic for casing—$20,000 2. Wages of assembly workers—$90,000 3. Property taxes on factory—$5,000 4. Accounting staff salaries—$35,000 5. Drum stands (1,000 stands purchased)—$38,000 6. Rent cost of equipment for sales staff—$24,000 7. Upper management salaries—$120,000 8. Annual flat fee for factory maintenance service—$18,000 9....
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 8,000 hours of productive capacity in the department: Variable overhead cost:    Indirect factory labor $70,400    Power and light 3,520    Indirect materials 17,600       Total variable overhead cost $91,520 Fixed overhead cost:    Supervisory salaries $32,030    Depreciation of plant and equipment 20,130    Insurance and property taxes 12,810       Total fixed overhead cost 64,970 Total factory...
The following is a list of various costs of producing T-shirts. Classify each cost as either...
The following is a list of various costs of producing T-shirts. Classify each cost as either a variable, fixed, or mixed cost for units produced and sold. a. Ink used for screen printing b. Warehouse rent of $8,000 per month plus $0.50 per square foot of storage used c. Thread d. Electricity costs of $0.038 per kilowatt-hour e. Janitorial costs of $4,000 per month f. Advertising costs of $12,000 per month g. Accounting salaries h. Color dyes for producing different...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT