2024 Calculations Shown Assignment Help
1 For Bob Company variable costs are 61 of sales and fixed costs are 171 000 Management s net 2023
1.) For Bob Company, variable costs are 61% of sales, and fixed costs are $171,000. Management’s net income goal is $91,899. Compute the required sales in dollars needed to achieve management’s target net income of $91,899. 2.) Bob 2 Company produces basketballs. It incurred the following costs during the year. Direct materials $14,418 Direct labor $25,589 Fixed manufacturing overhead $9,540 Variable manufacturing overhead $31,998 Selling costs $21,235 What are the total product costs for the company under variable costing? Total product costs $ 3.) Bob 3 Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs. Variable Cost per Unit Direct materials $8.10 Direct labor $2.65 Variable manufacturing overhead $6.21 Variable selling and administrative expenses $4.21 Fixed Costs per Year Fixed manufacturing overhead $253,650 Fixed selling and administrative expenses $259,308 Bob 3 Company sells the fishing lures for $27.00. During 2012, the company sold 81,000 lures and produced 95,000 lures. Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.) 4. For the quarter ended March 31, 2012, Bob 4 Company accumulates the following sales data for its product, Garden-Tools: $315,000 budget; $337,500 actual. Prepare a static budget report for the quarter. Bob 4 COMPANY Sales Budget Report For the Quarter Ended March 31, 2012 Product Line Budget Actual Difference Garden-Tools 5. Bob 5 company expects to produce 1,306,680 units of Product XX in 2012. Monthly production is expected to range from 74,810 to 112,910 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $8, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $1. Prepare a flexible manufacturing budget for the relevant range value using 19,050 unit increments. (List variable costs before fixed costs.) BOB 5 COMPANY Monthly Flexible Manufacturing Budget For the Year 2012