An asphalt manufacturer has supplied the following data: Tons of asphalt produced and sold 245,000 Sales revenue $ 1,053,500 Variable manufacturing expense $ 427,000 Fixed manufacturing expense $ 286,000 Variable selling and administrative expense $ 63,000 Fixed selling and administrative expense $ 226,000 Net operating income $ 51,500 What is the company’s contribution margin per unit? (Round your intermediate calculations to 2 decimal places.)

In the answer area, start by entering a, b etc. on five lines to properly label your 5 answers.  Then put your math calculations such as  ( 5 + 6 +9 +10 ) *1000 units = your answer.  You can use Ctrl+B to bold your final answer for each line.  You must show your work for the short answer questions to receive any credit.  Also without showing your work, one little math error will mean that all the following answers are wrong.  With work, you can earn full credit even with a math error.   SHOW YOUR WORK. LLX Corporation has provided the following information:   Cost per Unit Cost per Period Direct materials $ 5.00   Direct labor $ 3.60   Variable manufacturing overhead $ 1.20   Fixed manufacturing overhead   $ 29,250 Sales commissions $ 0.40   Variable administrative expense $ 0.30   Fixed selling and administrative expense   $9,750 Required: Answer the next 5 questions below after labeling 5 lines a. through e. a. For financial reporting purposes, what is the total amount of product costs incurred to make 4,000 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 4,000 units? c. If the selling price is $26.00 per unit, what is the contribution margin per unit sold? (Round your answer to 2 decimal places.) d. If 5,000 units are produced, what is the total amount of direct manufacturing cost incurred? e. If 5,001 units are produced, what is the incremental manufacturing cost the company will incur increasing production one more unit?

Which of the following statements are true? The costs attached to products that have not been sold are included in ending inventory on the balance sheet. In absorption costing, nonmanufacturing costs are assigned to units of product. Most countries require some form of absorption costing for external reports.

LLX Inc. uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on machine-hours in Department A and on labor cost in Department B. At the beginning of the year, the Corporation made the following estimates:   Department A Department B Direct labor cost $ 60,000 $ 30,000 Manufacturing overhead $ 90,000 $ 45,000 Direct labor-hours 6,000 9,000 Machine-hours 15,000 5,000 What predetermined overhead rates would be used in Department A and Department B, respectively?

LLX Corporation produces and sells a single product. Data concerning that product appear below:   Per Unit Selling price $130 Variable expenses $78 Contribution margin $52 The company is currently selling 6,000 units per month. Fixed expenses are $263,000 per month. The marketing manager believes that a $5,000 increase in the monthly advertising budget would result in a 140 unit increase in monthly sales. What should be the overall effect on the company’s monthly net operating income of this change?

Data concerning LLX Corporation single product appear below: Selling price per unit $290.00 Variable production cost per unit $75.00 Fixed production costs $121,130 Sales commission per unit $3.30 Fixed selling expenses $40,200 The break-even in dollar sales is closest to: (Round your intermediate calculations to 2 decimal places.)

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

Manufacturing overhead costs are indirect product costs.

LLX Corporation has provided the following information:   Cost per Unit Cost per Period Direct materials $ 6.65   Direct labor $ 4.00   Variable manufacturing overhead $ 1.60   Fixed manufacturing overhead   $29,900 Sales commissions $ 2.00   Variable administrative expense $ 0.70   Fixed selling and administrative expense   $ 5,700 If 10,500 units are produced, the total amount of indirect manufacturing cost incurred is closest to:

In the answer area, start by entering a through e on five lines to properly label your 5 answers.  Then put your math calculations such as  ( 5 + 6 +9 +10 ) *1000 units for your answer.  You can use Ctrl+B to bold your final answer for each line.  You must show your work for the short answer questions to receive any credit.  Also without showing your work, one little math error will mean that all the following answers are wrong.  With work, you can earn full credit even with a math error.   SHOW YOUR WORK. LLX Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on these estimated amounts:  Total fixed manufacturing overhead cost of $280,000, variable manufacturing overhead of $2.25 per machine-hour, and 40,000 machine-hours. The company has provided the following data concerning Job ABC10 which was recently completed: Number of units in the job 25 Total machine-hours 100 Direct materials $ 740 Direct labor cost $1,580 Required: Answer the next 5 questions below after labeling 5 lines a. through e. a. What is the total estimated manufacturing overhead costs for the year? b. What is the estimated manufacturing overhead rate? c. What is the total manufacturing overhead costs assigned to job ABC10? d. What is the total cost of job ABC10? e. If the company marks up its unit product costs by 40%, what is the selling price of job ABC10?