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1. (TCO 1) George Corporation has an estimated monthly sales of 3,200 units for $70 per unit. Variable costs include manufacturing costs of $36 and distribution costs of $14. Fixed costs are $40,000 per month.;Required;Determine each of the following values.;a. Unit contribution margin;b. Monthly break-even unit sales volume;Create a contribution margin-based income statement. (Points: 30);Question 2. 2. (TCO 7) Darling Manufacturing Inc. manufactures two products, A and B, from a joint process. A single production costs $5,000 and results in 200 units of A and 800 units of B. To be ready for sale, both products must be processed further, incurring seperable costs of $3 per unit for A and $4 per unit for B. The market price for Product A is $15 and for Product B is $10.;Required: Allocate joint production costs to each product using the physical units method. (Points: 30);Question 3. 3. (TCO6) Santa Inc. manufactures toys based on the following information.;Standard costs;Materials (4 ounces at $4) $16;Direct labor (1 hour per unit) $7;Variable overhead (based on direct labor hours) $3.50;Fixed overhead budget $16,000;Actual results and costs;Materials purchased;Units 10,000;Cost $38,500;Materials used in production;Finished product units 2,400;Raw material (ounces) 10,200;Direct labor hours 2,400;Direct labor cost $17,280;Variable overhead costs $8,250;Fixed overhead costs $15,700;Required;Compute the following variances (show calculations).;a. Materials usage variance;b. Labor rate variance;c. Fixed overhead budget variance (Points: 30);Question 4. 4. (TCO 4) Eastwood Company has the following information for 2010.;Selling price $150 per unit;Variable production costs $40 per unit produced;Variable selling and admin. expenses $16 per unit sold;Fixed production costs $200,000;Fixed selling and admin. expenses $140,000;Units produced 10,000 units;Units sold 8,000 units;There were no beginning inventories.;a. What is the net income for Eastwood using the absorption costing method?;b. What is the net income for Eastwood using the variable costing method? (Points: 30);Question 5. 5. (TCO 8) Musical Instruments Company manufactures two products (trumpets and trombones). Overhead costs ($41,500) have been divided into three cost pools that use the following activity drivers.;Product Number of setups Machine hours Packing orders;Trumpets 5 250 75;Trombones 10 500 125;Cost per pool $1,500 $30,000 $10,000;Required (show all calculations);a. What is the allocation rate for trumpets per setup using activity-based costing?;b. What is the allocation rate for trumpets per machine hours using activity-based costing?;c. What is the allocation rate for trumpets per packing order using activity-based costing? (Points: 30);Question 6. 6. (TCO 5) The Baxter Corporation has the following budgeted and actual results.;Budgeted data Actual results;Unit sales 25,000 Unit sales 26,000;Unit production 25,000 Unit production 26,500;Fixed overhead Fixed overhead;Supervision $20,000 Supervision $19,000;Depreciation $25,000 Depreciation $25,000;Rent $12,500 Rent $12,500;Variable costs per unit Variable costs;Direct materials $20.00 Direct materials $530,000;Direct labor $25.00 Direct labor $640,000;Supplies $0.25 Supplies $6,100;Indirect labor $1.25 Indirect labor $30,000;Electricity $0.15 Electricity $4,000;Required;Prepare a performance report for all costs, showing static budget variances (indicate F or U).;(Points: 30)


Paper#76764 | Written in 18-Jul-2015

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