Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $ 360,000 Selling and administrative costs Variable selling and administrative cost per unit $ 10 Fixed selling and administrative cost per year $ 115,000 1a. Assume the company uses absorption costing. Determine its product cost per unit.

Answer:

Cool Sky

The product cost per unit under absorption costing is:

= $7.20

Explanation:

a) Data and Calculations:

First year production units = 40,000

First year sales units = 32,000

Ending inventory = 8,000 (40,000 - 32,000)

Selling price per unit = $110

Sales revenue = $3,520,000 (32,000 * $110)

Manufacturing costs

Direct materials per unit $ 42

Direct labor per unit $ 16

Variable overhead per unit $ 5

Fixed overhead for the year $ 360,000

Selling and administrative costs:

Variable selling and administrative cost per unit $ 10

Fixed selling and administrative cost per year $ 115,000

Production Cost per Unit under Absorption Costing:

Manufacturing costs:            Unit      Total

Direct materials per unit      $ 42

Direct labor per unit             $ 16

Variable overhead per unit   $ 5

Total variable cost per  unit $63  $2,520,000

Fixed overhead for the year           $ 360,000

Total production cost for 40,000 $2,880,000

Unit product cost = $7.20 ($2,880,000/40,000)

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a. 8.25%
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rights violations.
​

Imagine you are reviewing a business plan. In which section of the business plan would you expect to find the answers to the following questions?
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(b)The fact that it uses an exponential function.
(c)The fact that it measures time in discrete steps.
(d)The fact that it is based on theory rather than data.

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Fraternity is protected under the ..
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Required:
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b. What will the stock price be in 3 years?
c. What will the stock price be in 15 years?

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If he buys the computer nad leases the software, what is the payback period?
a. 3 years
b. 4 years
c. 5 years
d. 6 years
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a. 1.5
b. 1.4
c. 1.3
d. 1.2

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Net income 564 437 354
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Equity 873 977 870

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Product Z5 800 3.0 2,400
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15% $8,351 to $33,950 $16,701 to $67,900
25% $33,951 to $82,250 $67,901 to $137,050
28% $82,251 to $171,550 $137,051 to $208,850
33% $171,551 to $372,950 $208,851 to $372,950
35% Over $372,951 Over $372,951
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Jun. 2 The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-term note payable for $42,700.
Jun. 3 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2.
Jun. 4 The company paid $3,000 cash for the premium on an 18-month insurance policy.
Jun. 5 The company completed and delivered a set of plans for a client and collected $6,200 cash.
Jun. 6 The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500.
Jun. 7 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days.
Jun. 8 The company purchased $1,150 of additional office equipment on credit.
Jun. 9 The company completed engineering services for $22,000 on credit.
Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must be paid within 30 days.
Jun. 12 The company collected $7,000 cash in partial payment from the client billed on June 9.
Jun. 14 The company paid $1,200 cash for wages to a drafting assistant.
Jun. 17 The company paid $1,150 cash to settle the account payable created in on June 8.
Jun. 20 The company paid $925 cash for minor maintenance of its drafting equipment.
Jun. 23 The company paid $9,480 cash in dividends.
Jun. 28 The company paid $1,200 cash for wages to a drafting assistant.
Jun. 29 The company paid $2,500 cash for advertisements on the web during June.

Required:
Journalize the above entires.

g Suppose that an employer requires 4 years of education as a precondition for the high-productivity wage. The existence of a separating equilibrium will depend on the cost of education for high-productivity types. In this case, a separating equilibrium will exist if the cost of education for high-productivity types is less than X dollars per year. What is X

Why should you stay organized when doing a research paper

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