# Complete the following in WileyPLUS: *Brief Exercise 18-8 *Brief Exercise 18-10 *Brief Exercise 18-11 *Brief Ex

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## Description

Brief Exercise 18-8

Meriden Company has a unit selling price of \$600, variable
costs per unit of \$300, and fixed costs of \$236,400.

Compute the break-even point in units using the mathematical
equation.

Break-even point units

Brief Exercise 18-10

For Turgo Company, variable costs are 55% of sales, and
fixed costs are \$176,600. Managementâ€™s net income goal is \$137,860.

Compute the required sales in dollars needed to achieve
managementâ€™s target net income of \$137,860.

Required sales

\$

Brief Exercise 18-11

For Kozy Company, actual sales are \$1,120,000 and break-even
sales are \$705,600.

Compute the margin of safety in dollars and the margin of
safety ratio.

Margin of safety

\$

Margin of safety ratio

%

Brief Exercise 19-16

Montana Company produces basketballs. It incurred the
following costs during the year.

Direct materials \$14,150

Direct labor \$25,515

Selling costs \$21,232

What are the total product costs for the company under
variable costing?

Total product costs

\$

Exercise 19-17

Polk Company builds custom fishing lures for sporting goods
stores. In its first year of operations, 2012, the company incurred the
following costs.

Variable Cost per Unit

Direct materials \$7.88

Direct labor \$2.57

Variable selling and administrative expenses \$4.10

Fixed Costs per Year

Fixed selling and administrative expenses \$252,105

Polk Company sells the fishing lures for \$26.25. During
2012, the company sold 81,000 lures and produced 95,600 lures.

(a)

Assuming the company uses variable costing, calculate Polkâ€™s
manufacturing cost per unit for 2012. (Round answer to 2 decimal places,
e.g.10.50.)

Manufacturing cost per unit

\$

(b)

Prepare a variable costing income statement for 2012.

POLK COMPANY

Income Statement

For the Year Ended December 31, 2012

Variable Costing

\$

\$

\$

(c)

Assuming the company uses absorption costing, calculate
Polkâ€™s manufacturing cost per unit for 2012. (Round answer to 2 decimal places,
e.g.10.50.)

Manufacturing cost per unit

\$

(d)

Prepare an absorption costing income statement for 2012.

POLK COMPANY

Income Statement

For the Year Ended December 31, 2012

Absorption Costing

\$

\$

Brief Exercise 21-1

For the quarter ended March 31, 2012, Maris Company
accumulates the following sales data for its product, Garden-Tools: \$311,800
budget; \$325,800 actual.

Prepare a static budget report for the quarter.

MARIS COMPANY

Sales Budget Report

For the Quarter Ended March 31, 2012

Product Line Budget Actual Difference

Garden-Tools

\$

\$

\$

Brief Exercise 21-4

Gundy Company expects to produce 1,242,960 units of Product
XX in 2012. Monthly production is expected to range from 72,100 to 112,520
units. Budgeted variable manufacturing costs per unit are: direct materials \$3,
direct labor \$7, and overhead \$10. Budgeted fixed manufacturing costs per unit
for depreciation are \$4 and for supervision are \$2.

Prepare a flexible manufacturing budget for the relevant
range value using 20,210 unit increments. (List variable costs before fixed
costs.)

GUNDY COMPANY

Monthly Flexible Manufacturing Budget

For the Year 2012

\$

\$

\$

\$Description / Instructions: Complete the following in
WileyPLUS: *Brief Exercise 18-8 *Brief Exercise 18-10 *Brief Exercise 18-11
*Brief Exercise 19-16 *Exercise 19-17 *Brief Exercise 21-1 *Brief Exercise 21-4

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