Accounting
lzaoteCost (50 points)
Paint More LLC has organized a new division to manufacture and sell specialty paint. The division’s monthly costs are shown below:
Because the production is highly automated, the company includes its labor costs in its fixed manufacturing overhead. The gallons of paint sell for $68 each. During September, the first month of operations, the following activity was recorded:
Units produced 5,000
Units sold 4,000
Submit an Excel document which each tab labeled by item number in good form that demonstrates the following:
Manufacturing costs: | ||
Variable costs per unit: | ||
Direct materials | $12 | |
Variable manufacturing overhead | $1 | |
Fixed manufacturing overhead costs (total) | $100,000 | |
Selling and administrative costs: | ||
Variable | 7% of sales | |
Fixed (total) | $31,000 |
Units produced 5,000
Units sold 4,000
Submit an Excel document which each tab labeled by item number in good form that demonstrates the following:
- Compute the unit product cost under:
- Absorption costing
- Variable costing
- Prepare an absorption costing income statement for September
- Prepare a contribution format income statement for September using variable costing
- 10 years ago
- 25
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- paint_llc.xls
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- paint_llc_correct.xls
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- q140.xls
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