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##### accounting problems with all solutions

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Question;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;\$249,744;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 94,600 lures.;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;\$;Prepare a variable costing income statement for 2012;Assuming the company uses absorption costing, calculate;Polk Manufacturing cost per unit for 2012 Round to nearest 2 decimal places;Prepare an absorption costing income statement for 2012;Question 6;For the quarter ended March 31, 2012, Maris Company;accumulates the following sales data for its product, Garden-Tools: \$310,400;budget, \$333,800 actual.;Prepare a static budget report for the quarter.;Question 7;Gundy Company expects to produce 1,283,400 units of Product;XX in 2012. Monthly production is expected to range from 75,330 to 113,050;units. Budgeted variable manufacturing costs per unit are: direct materials \$4;direct labor \$7, and overhead \$9. Budgeted fixed manufacturing costs per unit for;depreciation are \$4 and for supervision are \$3.;Prepare a flexible manufacturing budget for the relevant;range value using 18,860 unit increments. (List variable costs before fixed;costs.)

Paper#42188 | Written in 18-Jul-2015

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