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##### UOP ACC561 assignment 5

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Question;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;Brief Exercise 18-8;Meriden Company has a unit selling price;of \$760, variable costs per unit of \$380, and fixed costs of \$332,120.;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 56% of sales, and fixed costs are \$187,100. Management?s net;income goal is \$82,092.;Compute the required sales in dollars needed to achieve management?s;target net income of \$82,092.;Required sales;\$;Brief Exercise 18-11;For Kozy Company, actual sales are;\$1,114,000 and break-even sales are \$735,240.;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;\$14,248;Direct labor;\$25,442;Fixed manufacturing overhead;\$9,709;Variable manufacturing overhead;\$31,921;Selling costs;\$21,138;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;\$7.73;Direct labor;\$2.52;Variable manufacturing overhead;\$5.92;Variable selling and administrative expenses;\$4.02;Fixed Costs per Year;Fixed manufacturing overhead;\$239,522;Fixed selling and administrative expenses;\$247,303;Polk Company sells the fishing lures for \$25.75. During 2012, the;company sold 80,000 lures and;produced 94,300 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;\$;(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 Polk?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: \$326,000 budget, \$332,000 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;\$;\$;\$;Brief Exercise 21-4;Gundy Company expects to produce 1,212,840 units;of Product XX in 2012. Monthly production is expected to range;from 71,900 to 114,000 units. Budgeted variable;manufacturing costs per unit are: direct materials \$4, direct labor \$7;and overhead \$10. Budgeted fixed manufacturing costs per unit for;depreciation are \$6 and for supervision are \$3.;Prepare a flexible manufacturing budget for the relevant range value;using 21,050 unit increments.(List variable costs before fixed costs.);GUNDY COMPANY;Monthly Flexible Manufacturing Budget;For the Year 2012;\$;\$;\$;\$;\$;\$;\$;\$;\$

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