Question

An entity has the following cost components for 136,000 units of product for the year: Direct...

An entity has the following cost components for 136,000 units of product for the year: Direct Materials 350,000 Direct Labor 225,000 Manufacturing Overhead 225,000 Selling and Administrative expense 175,000. All costs are variable except for 35,000 of manufacturing overhead and 65,000 of selling and administrative expenses. The total costs to produce and sell 136,000 units for the year are:

Homework Answers

Answer #1
Cost Sheet
Direct materials 350,000
Direct labor 225,000
Variable manufacturing overhead 190,000
Fixed manufacturing overhead 35,000
Total manufacturing cost 800,000
Selling and administrative expenses:
Variable selling and administrative expenses 110,000
Fixed selling and administrative expenses 65,000
Total Cost $975,000

The total costs to produce and sell 136,000 units for the year are $975,000

Kindly comment if you need further assistance. Thanks

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
Krepps Corporation produces a single product. Last year, Krepps manufactured 34,930 units and sold 29,900 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 34,930 units and sold 29,900 units. Production costs for the year were as follows: Direct materials $ 265,468 Direct labor $ 171,157 Variable manufacturing overhead $ 300,398 Fixed manufacturing overhead $ 454,090 Sales totaled $1,330,550 for the year, variable selling and administrative expenses totaled $170,430, and fixed selling and administrative expenses totaled $261,975. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the...
Krepps Corporation produces a single product. Last year, Krepps manufactured 34,930 units and sold 29,900 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 34,930 units and sold 29,900 units. Production costs for the year were as follows: Direct materials $ 265,468 Direct labor $ 171,157 Variable manufacturing overhead $ 300,398 Fixed manufacturing overhead $ 454,090 Sales totaled $1,330,550 for the year, variable selling and administrative expenses totaled $170,430, and fixed selling and administrative expenses totaled $261,975. There was no beginning inventory. Assume that direct labor is a variable cost. The contribution margin per...
Zola Company manufactures and sells one product. The following information pertains to the company’s first year...
Zola Company manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 13 Fixed costs per year: Direct labor $ 144,000 Fixed manufacturing overhead $ 210,000 Fixed selling and administrative expenses $ 65,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Zola produced 18,000 units and sold 14,400 units. The selling price of...
1: Gabuat Corporation, which has only one product, has provided the following data concerning its most...
1: Gabuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 138 Units in beginning inventory 0 Units produced 2,600 Units sold 2,310 Units in ending inventory 290 Variable costs per unit: Direct materials $ 49 Direct labor $ 27 Variable manufacturing overhead $ 6 Variable selling and administrative expense $ 6 Fixed costs: Fixed manufacturing overhead $36,400 Fixed selling and administrative expense $13,860 The total gross margin...
Krepps Corporation produces a single product. Last year, Krepps manufactured 28,000 units and sold 22,500 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 28,000 units and sold 22,500 units. Production costs for the year were as follows: Direct materials $ 229,600 Direct labor $ 134,400 Variable manufacturing overhead $ 215,600 Fixed manufacturing overhead $ 336,000 Sales totaled $1,046,250 for the year, variable selling and administrative expenses totaled $117,000, and fixed selling and administrative expenses totaled $201,600. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the...
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units. Production costs for the year were as follows: Direct materials $ 170,000 Direct labor $ 110,000 Variable manufacturing overhead $ 200,000 Fixed manufacturing overhead $ 240,000 Sales totaled $825,000 for the year, variable selling and administrative expenses totaled $108,000, and fixed selling and administrative expenses totaled $165,000. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the...
Krepps Corporation produces a single product. Last year, Krepps manufactured 30,420 units and sold 24,900 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 30,420 units and sold 24,900 units. Production costs for the year were as follows: Direct materials $234,234 Direct labor $142,974 Variable manufacturing overhead $258,570 Fixed manufacturing overhead $395,460 Sales totaled $1,207,650 for the year, variable selling and administrative expenses totaled $136,950, and fixed selling and administrative expenses totaled $185,562. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the ending inventory for the...
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units....
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units. Production costs for the year were as follows: Direct materials $ 170,000 Direct labor $ 110,000 Variable manufacturing overhead $ 200,000 Fixed manufacturing overhead $ 240,000 Sales totaled $825,000 for the year, variable selling and administrative expenses totaled $108,000, and fixed selling and administrative expenses totaled $165,000. There was no beginning inventory. Assume that direct labor is a variable cost. Under absorption costing, the...
EMP cost in the manufacturing of 270,000 units are as follows: Variable Costs      Direct Labor...
EMP cost in the manufacturing of 270,000 units are as follows: Variable Costs      Direct Labor $2,200,000 Direct Materials                                $1,900,000 Variable Selling Expenses $900,000 Variable Overhead                              $940,000 Fixed Costs Administrative Expenses $900,000 Fixed Overhead $860,000 EMP target profit is $400,000 Determine the selling price
A company reported the following cost information for the last fiscal year when it produced 100,000...
A company reported the following cost information for the last fiscal year when it produced 100,000 units. Direct labor $200,000 Direct materials 100,000 Manufacturing overhead 200,000 Selling and administrative expenses 150,000 All costs are variable except for $100,000 of manufacturing overhead and $100,000 of selling and administrative expenses. Using flexible budgeting, what are the total costs associated with producing and selling 110,000 units? A. $715,000 B. $450,000 C. $650,000 D. $695,000