Question
The procurement manager from a large merchandising firm has called your vice president for production to...
The procurement manager from a large merchandising firm has called your vice president for production to get a price quote for an additional 300 units of a given product. The vice president has asked you to prepare a cost estimate. The number of hours required to produce a unit is 4. The average labor rate is $16 per hour. The materials cost $22 per unit. Overhead for an additional 300 units is estimated at 40% of the direct labor cost. If the company wants to have a 35% profit margin, what should be the total price to quote?
A. $54,877
B. $61,890
C. $52,785
D. None of these
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
The procurement manager from a large merchandising firm has called your vice president for production to...
The procurement manager from a large merchandising firm has
called your vice president for production to get a price quote for
an additional 300 units of a given product. The vice president has
asked you to prepare a cost estimate. The number of hours required
to produce a unit is 4. The average labor rate is $16 per hour. The
materials cost $22 per unit. Overhead for an additional 300 units
is estimated at 40% of the direct labor cost....
The procurement manager from a large merchandising firm has called your vice president for production to...
The procurement manager from a large merchandising firm has
called your vice president for production to get a price quote for
an additional 200 units of a given product. The vice president has
asked you to prepare a cost estimate. The number of hours required
to produce a unit is 4. The average labor rate is $16 per hour. The
materials cost $22 per unit. Overhead for an additional 200 units
is estimated at 40% of the direct labor cost....
The procurement manager from a large merchandising firm has called your vice president for production to...
The procurement manager from a large merchandising
firm has called your vice president for production to get a price
quote for an additional 250 units of a given product. The vice
president has asked you to prepare a cost estimate. The number of
hours required to produce a unit is 4. The average labor rate is
$16 per hour. The materials cost $22 per unit. Overhead for an
additional 250 units is estimated at 50% of the direct labor cost....
The Vice President for Sales and Marketing at Waterways Corporation is planning for production needs to...
The Vice President for Sales and Marketing at Waterways
Corporation is planning for production needs to meet sales demand
in the coming year. He is also trying to determine how the
company’s profits might be increased in the coming year. This
problem asks you to use cost-volume-profit concepts to help
Waterways understand contribution margins of some of its products
and decide whether to mass-produce any of them.
Waterways markets a simple water control and timer that it
mass-produces. Last year,...
You have been given the following information about the production of Usher Co., and are asked...
You have been given the following information about the
production of Usher Co., and are asked to provide the plant manager
with information for a meeting with the vice president of
operations.
Standard Cost Card
Direct materials (9 pounds at $5 per pound)
$45.00
Direct labor (0.70 hours at $10)
7.00
Variable overhead (0.70 hours at $5 per hour)
3.50
Fixed overhead (0.70 hours at $7 per hour)
4.90
$60.40
The following is a variance report for the most recent...
Please answer a3 The Vice President for Sales and Marketing at Waterways Corporation is planning for...
Please answer a3
The Vice President for Sales and Marketing at Waterways
Corporation is planning for production needs to meet sales demand
in the coming year. He is also trying to determine how the
company’s profits might be increased in the coming year. This
problem asks you to use cost-volume-profit concepts to help
Waterways understand contribution margins of some of its products
and decide whether to mass-produce any of them.
Waterways markets a simple water control and timer that it...
You have been given the following information about the production of Usher Co., and are asked...
You have been given the following information about the
production of Usher Co., and are asked to provide the plant manager
with information for a meeting with the vice president of
operations.
Standard Cost Card
Direct materials (8 pounds at $5 per pound)
$40.00
Direct labor (0.70 hours at $10)
7.00
Variable overhead (0.70 hours at $3 per hour)
2.10
Fixed overhead (0.70 hours at $7 per hour)
4.90
$54.00
The following is a variance report for the most recent...
You have been given the following information about the production of Usher Co., and are asked...
You have been given the following information about the
production of Usher Co., and are asked to provide the plant manager
with information for a meeting with the vice president of
operations.
Standard Cost Card
Direct materials (9 pounds at $5 per pound)
$45.00
Direct labor (0.80 hours at $10)
8.00
Variable overhead (0.80 hours at $5 per hour)
4.00
Fixed overhead (0.80 hours at $7 per hour)
5.60
$62.60
The following is a variance report for the most recent...
You have been given the following information about the production of Usher Co., and are asked...
You have been given the following information about the
production of Usher Co., and are asked to provide the plant manager
with information for a meeting with the vice president of
operations. Standard Cost Card Direct materials (5 pounds at $5 per
pound) $25.00 Direct labor (0.90 hours at $10) 9.00 Variable
overhead (0.90 hours at $3 per hour) 2.70 Fixed overhead (0.90
hours at $8 per hour) 7.20 $43.90 The following is a variance
report for the most recent...
You have been given the following information about the production of Usher Co., and are asked...
You have been given the following information about the
production of Usher Co., and are asked to provide the plant manager
with information for a meeting with the vice president of
operations.
Standard Cost Card
Direct materials (7 pounds at $5 per pound)
$35.00
Direct labor (0.70 hours at $10)
7.00
Variable overhead (0.70 hours at $4 per hour)
2.80
Fixed overhead (0.70 hours at $8 per hour)
5.60
$50.40
The following is a variance report for the most recent...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 1 minute ago
asked 11 minutes ago
asked 19 minutes ago
asked 34 minutes ago
asked 45 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago