Calculate polk manufacturing cost per unit

Reference no: EM13818401

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 $244,856 Fixed selling and administrative expenses $247,303 Polk Company sells the fishing lures for $25.75. During 2012, the company sold 81,400 lures and produced 96,400 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.

(d) Prepare an absorption costing income statement for 2012

Reference no: EM13818401

Questions Cloud

Implications of various economic theories : Demonstrate how metrics such as valuation, economic profit, and related terms are measured and evaluated. Explain the significance and implications of various economic theories pertaining to profit, consumer choice, demand and supply, forecasting ..

Federal employment law does protect against discrimination : Petra appoints Alexander as her real estate agent to help her buy a house. Harry appoints Alexander as his agent to help sell Harry's house. Alexander thinks Petra would like Harry's house, and would be willing to pay Harry's asking price.

Defines the crucial elements for a strategy success : Which of the following defines the crucial elements for a strategy's success? A. Strategy analysis B. Strategy formulation C. Strategy facilitation D. Strategy implementation

Define the organizations vision mission and values : Define the organization's vision, mission, and values. Outline the basic planning process for the organization and how the three levels of management influence this process.

Calculate polk manufacturing cost per unit : 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 report with powerpoint presentation : Writing a report with PowerPoint presentation - A car accident

Analyze the five business-level strategies : Analyze the five business-level strategies to determine which strategy the company you researched most likely applies. Determine how your experience with that company might change if it switched to one of the other four strategies

Describe the steps taken to resolve the conflict : Describe the steps taken to resolve the conflict or, if it is an ongoing conflict, propose steps to resolve the conflict. Describe a conflict within an organization or team with which you are familiar.

Value of a common stock : 1. Preferred stock and bonds are similar because

User Account

All Pages