Combs inc reports the following information for september sales_answer

Combs, Inc. reports the following information for September sales:

Sales $15,000
Variable costs 3,000

Fixed costs 4,000

Operating income $ 8,000

Required:

If sales double in October, what is the projected operating income?

2. Chapter 4

The following information was gathered for Rogers Company for the year ended December 31, 20×4.

Budgeted Actual

Direct labor-hours 75,000 dlh 77,500 dlh

Factory overhead $525,000 $558,000
Assume that direct labor-hours are the cost-allocation base.
Required:

a. Compute the budgeted factory overhead rate.

b. Compute the factory overhead applied.

c. Compute the amount of over/underapplied overhead.

3. Chapter 6
Spirit Company sells three products with the following seasonal sales pattern:

Products

Quarter A B C

1 40% 30% 10%

2 30% 20% 40%

3 20% 20% 40%

4 10% 30% 10%
The annual sales budget shows forecasts for the different products and their expected selling price per unit as follows:
Product Units Selling Price

A 50,000 $ 4

B 125,000 10

C 62,500 6

Required:

Prepare a sales budget, in units and dollars, by quarters for the company for the coming year.

4. Chapter 8
Jael Equipment uses a flexible budget for its indirect manufacturing costs. For 20×4, the company anticipated that it would produce 18,000 units with 3,500 machine-hours and 7,200 employee days. The costs and cost drivers were to be as follows:
Fixed Variable Cost driver

Product handling $30,000 $0.40 per unit

Inspection 8,000 8.00 per 100 unit batch

Utilities 400 4.00 per 100 unit batch

Maintenance 1,000 0.20 per machine-hour

Supplies 5.00 per employee day

During the year, the company processed 20,000 units, worked 7,500 employee days, and had 4,000 machine-hours. The actual costs for 20×4 were:
Actual costs

Product handling $36,000

Inspection 9,000

Utilities 1,600

Maintenance 1,200

Supplies 37,500

Required:

a. Prepare the static budget using the overhead items above and then compute the static-budget variances.

b. Prepare the flexible budget using the overhead items above and then compute the flexible-budget variances.

5. Chapter 14



Speedy Printing manufactures soft cover books. For January, the following information is available:



Budgeted market size (units) 125,000

Budgeted market share 18%

Budgeted average contribution margin per unit $1.20
Actual market size (units) 100,000

Actual market share 19%

Actual average contribution margin per unit $1.22



Required:



Compute the market-share variance, the market-size variance, and the sales-quantity variance in terms of the contribution margin.





6. Chapter 17



The Zygon Corporation was recently formed to produce a semiconductor chip that forms an essential part of the personal computer manufactured by a major corporation. The direct materials are added at the start of the production process while conversion costs are added uniformly throughout the production process. June is Zygon’s first month of operations, and therefore, there was no beginning inventory. Direct materials cost for the month totaled $895,000, while conversion costs equaled $4,225,000. Accounting records indicate that 475,000 chips were started in June, and that 425,000 chips were completed.



Ending inventory was 50% complete as to conversion costs.



Required:

a. What is the total manufacturing cost per chip for June?

b. Allocate the total costs between the completed chips and the chips in ending inventory.


 

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