Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $800 per unit, of which $540 is product cost and $260 is selling and administrative expenses. In addition, the total cost of $800 is made up of $460 variable cost and $340 fixed cost. The desired profit is $168 per unit. Determine the markup percentage on total cost. %
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- Product cost method of product costing Smart Stream Inc. uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 cell phones are as follows: Smart Stream desires a profit equal to a 30% return on invested assets of 1,200,000. A. Determine the amount of desired profit from the production and sale of 10,000 cell phones. B. Determine the product cost per unit for the production of 10,000 cell phones. C. Determine the product cost markup percentage for cell phones. D. Determine the selling price of cell phones.A product has a sales price of $250 and a per-unit contribution margin of $75. What is the contribution margin ratio?Lotts Company produces and sells one product. The selling price is 10, and the unit variable cost is 6. Total fixed cost is 10,000. Required: 1. Prepare a CVP graph with Units Sold as the horizontal axis and Dollars as the vertical axis. Label the break-even point on the horizontal axis. 2. Prepare CVP graphs for each of the following independent scenarios: (a) Fixed cost increases by 5,000, (b) Unit variable cost increases to 7, (c) Unit selling price increases to 12, and (d) Fixed cost increases by 5,000 and unit variable cost is 7.
- Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $1,200 per unit, of which $820 is product cost and $380 is selling and administrative expenses. In addition, the total cost of $1,200 is made up of $680 variable cost and $520 fixed cost. The desired profit is $180 per unit. Determine the markup percentage on total cost.fill in the blank 1 %Mallory Company uses the product cost method of applying the cost-plus approach to product pricing. It produces and sells Product X at a total cost of $35 per unit, of which $28 is product cost and $7 is selling and administrative expenses. In addition, the total cost of $35 is made up of $24 variable cost and $11 fixed cost. The desired profit is $8 per unit. Determine the markup percentage on product cost. Round your answer to one decimal place. %Sierra Company produces its product at a total cost of $120 per unit. Of this amount, $40 per unit is selling and administrative costs. The total variable cost is $96 per unit, and the desired profit is $24.00 per unit. Determine the markup percentage using the (a) total cost, (b) product cost, and (c) variable cost methods. Round your answers to one decimal place. a. Total cost b. Product cost c. Variable cost % % %
- Jamison Company produces and sells Product X at a total cost of $1,300 per unit, of which $880 is product cost and $420 is selling and administrative expenses. In addition, the total cost of $1,300 is made up of $740 variable cost and $560 fixed cost. The desired profit is $169 per unit. Determine the markup percentage on total cost.fill in the blank 1 %Spectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) Spectrum Corp. desires a 27% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Spectrum have to charge the customer to achieve that gross profit? Round to two decimal places. Begin by selecting the formula to compute the amount that the company should charge for each product. Total product cost per unit Spectrum should charge 2091.10 for Product C. Data table Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Total costs assigned Print Product cost as a percentage of sales price Product C $ 900.00 $ 400.00 226.50 $ 1,526.50 $ Done Product D 2,400.00 100.00 531.00 3,031.00 X = Required sales price per unit GCrescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $66 per unit, of which $33 is product cost and $33 is selling and administrative expenses. In addition, the total cost of $66 is made up of $45 variable cost and $21 fixed cost. The desired profit is $12 per unit. Determine the markup percentage on product cost. Round the answer to nearest whole number.
- Spectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) Spectrum Corp. desires a 25% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Spectrum have to charge the customer to achieve that gross profit? Round to two decimal places. Begin by selecting the formula to compute the amount that the company should charge for each product. Required sales price per unit Data table Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Total costs assigned Print $ $ Product C 600.00 $ 300.00 270.00 1,170.00 S Done - X Product D 2,400.00 200.00 604.00 3,204.00Adams, Inc. has the following cost data for Product X, and unit product cost using absorption costing when production is 2,000 units, 2,500 units, and 5,000 units. (Click on the icon to view the cost data.) (Click on the icon to view the unit product cost data.) Product X sells for $175 per unit. Assume no beginning inventories. Read the requirements. Data table Begin by selecting the labels and computing the gross profit for scenario a. and then compute the gross profit for scenario b. and c. Absorption costing a. b. C. Gross Profit Reference 2,000 units 2,500 units 5,000 units 42 $ 42 52 52 11 11 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit product cost Print $ $ 42 S 52 11 10 115 $ Done 8 113 $ 4 109 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Print Done $42 per unit 52 per unit 11 per unit 20,000 per yearThe XYZ Company produces and sells two products: The Riffs and The Raffs. Below is revenue and cost information to facilitate the development of a basic segmented income statement. Product Riffs Raffs Sales Price per unit $8.00 6.00 Variable Cost per unit $3.20 3.00 Traceable Fixed Costs $62,000 $44,000 It is expected that the company will incur $21,000 of common fixed expenses and unit sales are expected to be 12,000 of Riffs and 18,000 of Raffs. Required: Construct a Contribution Format Income Statement segmented by product line and company total.