Determine the cost of producing a helmet

Assignment Help Accounting Basics

Reference no: EM132333530

Case - Armstrong Helmet Company

Instructions - Using the data presented in case, do the following.

1. Classify the costs as either product costs or period costs using a five-column table as shown below. Enter the dollar amount of each cost in the appropriate column and total each classification.

Item	Product Costs			Period Costs
Item	Direct Materials	Direct Labor	Manufacturing Overhead	Period Costs

2. Classify the costs as either variable or fixed costs. Assume there are no mixed costs. Enter the dollar amount of each cost in the appropriate column and total each classification. Use the format shown below. Assume that Utility costs-factory are a fixed cost.

Item	Variable Costs	Fixed Costs	Total Costs

3. Prepare a schedule of cost of goods manufactured for the month of December 2013.

4. Determine the cost of producing a helmet.

5. Identify the type of cost accounting system that Armstrong Helmet Company is probably using at this time. Explain.

6. Under what circumstances might Armstrong use a different cost accounting system?

7. Compute the unit variable cost for a helmet.

8. Compute the unit contribution margin and the contribution margin ratio.

9. Calculate the break-even point in units and in sales dollars.

10. Prepare the following budgets for the month of December 2013.

(a) Sales.

(b) Production.

(d) Direct labor.

(e) Selling and administrative expenses.

(f) Cash.

(g) Budgeted income statement.

Note - Please follow the instructions. The requirement is in PDF. Answers must be filled in the excel file.

Attachment:- Case & Excel File.rar

Reference no: EM132333530

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