Meriden Company has a unit selling price of $730, variable

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Meriden Company has a unit selling price of $730, variable
Resolved Question:
Meriden Company has a unit selling price of $730, variable costs per unit of $438, and fixed costs of $195,932.

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

For Turgo Company, variable costs are 65% of sales, and fixed costs are $176,700. Management’s net income goal is $62,875.

Compute the required sales in dollars needed to achieve management’s target net income of $62,875.
Required sales $

For Kozy Company, actual sales are $1,178,000 and break-even sales are $777,480.

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

Margin of safety ratio %

Montana Company produces basketballs. It incurred the following costs during the year.
Direct materials $14,444
Direct labor $25,073
Fixed manufacturing overhead $9,836
Variable manufacturing overhead $31,563
Selling costs $21,066

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

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 $8.03
Direct labor $2.62
Variable manufacturing overhead $6.15
Variable selling and administrative expenses $4.17

Fixed Costs per Year
Fixed manufacturing overhead $250,272
Fixed selling and administrative expenses $256,907

Polk Company sells the fishing lures for $26.75. During 2012, the company sold 80,100 lures and produced 94,800 lures.

(a)Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.)
Manufacturing cost per unit $

For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $322,900 budget; $330,000 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 $
$ $

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Brief Exercise 21-4

Gundy Company expects to produce 1,272,600 units of Product XX in 2012. Monthly production is expected to range from 84,440 to 116,020 units. Budgeted variable manufacturing costs per unit are: direct materials $3, direct labor $7, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $3.

Prepare a flexible manufacturing budget for the relevant range value using 15,790 unit increments. (List variable costs before fixed costs.)
GUNDY COMPANY
Monthly Flexible Manufacturing Budget
For the Year 2012

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