Posted: October 20th, 2022

HW

  Snail Extraction Serving  
  Tools Pieces Total
Sales $1,200,000 $800,000 $2,000,000
Less cost of goods sold 700,000 500,000 1,200,000
Contribution margin 500,000 300,000 800,000
Less direct fixed costs:      
   Salaries 175,000 175,000 350,000
   Other 60,000 60,000 120,000
Less allocated fixed costs:      
   Rent 14,118 9,882 24,000
   Insurance 3,529 2,471 6,000
   Cleaning 4,117 2,883 7,000
   Executive salary 76,470 53,530 130,000
   Other 7,058 4,942 12,000
Total costs 340,292 308,708 649,000
Net income ($159,708)  ($8,708)  $151,000
       

      

 

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Question 2.

      

 

Question 3.

      

 

Question 4.

Revenue $450,000  
Less:    
   Material Cost $60,000  
   Labor 100,000  
   Depreciation 110,000  
   Other 10,000 280,000
Income before taxes   170,000
Taxes at 40%   68,000
Net Income $102,000  

      

 

Question 5.

Units produced 20,000
Units sold 17,000
Selling price per unit $30
Direct material per unit $5
Direct labor per unit $5
Variable manufacturing overhead per unit $2 
Variable selling cost per unit $3
Annual fixed manufacturing overhead $160,000
Annual fixed selling and administrative expense $80,000

      

 

Question 6.

  Per Unit Total
Direct Materials $2.00  
Direct Labor $1.50  
Variable Manufacturing Overhead
$1.00  
Fixed Manufacturing Overhead   $100,000
Variable Selling and Administrative Expense $0.10  
Fixed Selling and Administrative Expense   $100,000

      

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