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3 years ago

Given the following information, compute the total number of units for the period:

Business

1 answer:

enyata [817]3 years ago

5 0

Answer:

Total number of units produced for the period = 662 units

Explanation:

Total manufacturing cost = (Fixed overhead cost) + (Total direct labour cost) + (Total materials cost) + (Total Variable overhead cost)

Let the number of units produced be Q

Total manufacturing cost = $160705

Fixed overhead cost = $58000

Total direct labour cost = cost of direct labour per hour × number of direct labour hours = 2.7 × 13100 = $35370

Total direct materials cost = Direct material cost per unit × number of units produced = 75 × Q

Total variable overhead cost = 50% of total labour cost = 50% of 35370 = $17685

160705 = 58000 + 35370 + 75Q + 17685

75Q = 160705 - 58000 - 35370 - 17685

75Q = 49650

Q = 662 units

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Journalizing purchase and sales transactions

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Based on the given purchase and sale transactions, the journal entries are:

Date Account Title Debit Credit

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<h3 /><h3>What are the journal entries?</h3>

When goods are purchased, they will be debited to the Merchandise inventory account. If they were paid for with cash, they will be credited to the cash account. On account is credited to Accounts Payable.

When goods are sold, the cost of goods sold will have to be debited to account for the cost of the purchase that is now being sold.

Because the goods were paid for in the discount period, a 3% discount would apply:

= 2,400 x (1 - 3%)
= $2,328

A 2% discount would apply to the Feb 10. sales for the same reason:
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Answer:

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