Question 8

Cost of goods manufactured

Opening work in progress inventoryOpening finished goods inventoryDirect LaborDirect MaterialOver head Closing Work in progressClosing Finished goods

Cost of goods manufactured

Question 9

Breakeven

Breakeven in units Variable costsFixed costs

ContributionVariable cost per unit

Selling price

Question 12

Sales Operating ProfitContribution Margin contribution in revenues Variable Cost

Fixed cost

Question 19

direct labor costs per machine hour

Fixed cost is already been covered in the 400 units so the addition to the operating profit would be

y2 is the total cost in busiest monthy1 is the total cost in slowest monthx2 are the number of labor hours in busiest monthx1 are the number of labor hours in slowest month

direct labor costs per machine hour

Question 22

Loom operatorFactory foremenmachine mechanics

Direct labour cost

Question 23

Overhead rate Labor cost per hour Labor hours

Total Labor costManufacturing overhead

Question 25

opening work in processDirect Labor Mnaufacturing Overhead CostsDirect Material used in ProductionClosing work in process

Work in process transferrsed to finished good

Question 29

Viva Company UnitsWork in process 1 January 20000Units transferred as finished goods in january 40000Work in process 31 January 15000

Equivqlent units of production for conversion cost using FIFO

Viva Company Conversion work in process I January 12000Units started and completed in january 20000work in process 3I January 4500Equivqlent inventory 36500

Question 31

Beginning Inventory 0Units started in production 20000Units finished during the period 16000

4000

Cost of material used 35200Labor and overhead costs 37400

Equivqlent units for material

Units finished during the period 16000units in process at the end of the period 4000Equivalent units 20000

Question 31

Equivalent Units for Labor and overhead

Units finished during the period 16000units in process at the end of the period 1000Equivalent units 17000

Question 32

Unit cost of material

Direct material cost 35200Units in production 20000unit cost of material 1.76

Units in process at the end of the period with respect to material 100% with respect to labor 25%

45,000 190,000 475,000 308,000 250,000 (67,000) (89,000)

$ 1,112,000

Fixed cost/contribution 400400200

Fixed cost/ Breakeven 0.5Variable cost/total units 1

Contribution+Variable cost 1.5

$ 0.50

750000130000

1-(Variable cost/Sales) 40%sales*contribution margin 300000Sales-contribution 450000

contributin- operating profit $ 170,000

(Y2-Y1)/(X2-X1)

200000120000

140006000

(Y2-Y1)/(X2-X1) $ 10

1200004500030000

$ 195,000

140%17.5

15000

262500total labor cost* overhead rate $ 367,500

200300250125

(175)

700

Percentage CompleteMaterial Conversion

80% 40%100% 100%60% 30%