ACCT 241 Week 1 Assignment Help

ACCT 241 Week 1 Assignment Help 2 | Quiz | American University 

1.

The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

Required:

1. For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units? (Do not round intermediate calculations.)

2.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

2. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (Do not round intermediate calculations.)

3.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

 3. If 8,000 units are produced and sold, what is the variable cost per unit produced and sold? (Round your answer to 2 decimal places.)

4.

Required information

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

4. If  12,500 units are produced and sold, what is the variable cost per unit produced and sold? (Round your answer to 2 decimal places.)

5.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

5. If 8,000 units are produced and sold, what is the total amount of variable costs related to the units produced and sold?

6.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

6. If 12,500 units are produced and sold, what is the total amount of variable costs related to the units produced and sold?

7.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

7. If 8,000 units are produced, what is the average fixed manufacturing cost per unit produced?

8

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

 8. If 12,500 units are produced, what is the average fixed manufacturing cost per unit produced? (Round your answer to 2 decimal places.)

9.

Required information

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production?

10.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

10. If 12,500 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production?

11.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

11. If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places and other answers to the nearest whole dollar amount.)

12.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

12.  If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? What is this total amount expressed on a per unit basis? (Round your "per unit" answer to 2 decimal places and other answers to the nearest whole dollar amount.)

13.

Required information

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

13. If the selling price is $22.40 per unit, what is the contribution margin per unit? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

14.

Required information

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

14. If 12,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this level of production? (Do not round intermediate calculations.)

15.

[The following information applies to the questions displayed below.]

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                $              6.40       

Direct labor         $              3.90       

Variable manufacturing overhead            $              1.40       

Fixed manufacturing overhead  $              4.00       

Fixed selling expense     $              3.40       

Fixed administrative expense    $              2.10       

Sales commissions           $              1.10       

Variable administrative expense               $              0.55       

________________________________________

15. What incremental manufacturing cost will Martinez incur if it increases production from 10,000 to 10,001 units? (Round your answer to 2 decimal places.)