1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sergejj [24]
3 years ago
9

Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $90 each. Direct materials cost $15 per

unit, and direct labor costs $10 per unit. Manufacturing overhead is applied at a rate of 200% of direct labor cost. Nonmanufacturing costs are $27 per unit. What is the gross profit margin for the cat condos?
Business
1 answer:
pogonyaev3 years ago
7 0

Answer:

The gross profit margin for the cat condo is 50%

Explanation:

Since the gross profit per unit is not given, so first we have to find it. The calculation is shown below:

= Selling price per unit - Direct materials cost per unit - direct labor costs per unit - Manufacturing overhead per unit

= $90 per unit - $15 per unit - $10 per unit - $20 per unit ( $10 per unit × 200%)

= $45 per unit

Now apply the Gross profit formula which is shown below:

= (Gross profit per unit ÷ selling price per unit) × 100

= ($45 per unit ÷ $90 per unit) × 100

= 50%

You might be interested in
The exchange rate is the opportunity cost at which goods are produced domestically. balance-of-trade ratio of one country to ano
erica [24]

Price of one country's currency expressed in terms of another country's currency.

Exchange rates can be either fixed or floating and are used to describe how much one type of money is worth in another country.

3 0
3 years ago
One type of loan that takes longer then a year to pay
stiv31 [10]

There are many different types of loans, but if you're looking for loans that last for more than a year, you could look towards bonds, contracts, and some types of commercial loans (this depends on the contractor and the person handling the loan).

7 0
4 years ago
Abigail is a manager at her company. The company just launched an initiative to improve its corporate citizenship practices. Abi
choli [55]

Answer:

The correct answer is (C)

Explanation:

The company has launched an initiative to improve cooperate citizenship and Abigail as a manager is responsible for various operations such as shareholders interest, transparency and integrity of customers. The job of a manager is tough and it requires tremendous amour of effort. Likewise, a manager is not responsible for the vigilance of the board of directors because they are on their own and she has no authority over them.

3 0
3 years ago
Hey how are you guys
Dimas [21]

Answer:

Good how are you?

Explanation:

7 0
3 years ago
Mark the statements that are TRUE.
trasher [3.6K]

Answer:

true statements are

b

c

d

e

5 0
3 years ago
Read 2 more answers
Other questions:
  • Under absorption costing, a company had the following unit costs when 8,000 units were produced. Direct labor $ 8.50 per unit Di
    8·1 answer
  • You own a stock portfolio invested 28 percent in Stock Q, 16 percent in Stock R, 42 percent in Stock S, and 14 percent in Stock
    5·1 answer
  • Elizabeth works for a local restaurant. At the end of her shift, she is required
    14·1 answer
  • When adding additional predictors to a regression analysis, you should try to find predictors that are related to _____________
    14·1 answer
  • House's path-goal theory focuses primarily on a leader's charisma.T/F
    12·1 answer
  • For the perfectly competitive broccoli producers in​ California, the market demand curve for broccoli is A. downward sloping. B.
    13·1 answer
  • _____________ is when your company makes an effort to actively control and shape your brand image with your target market.
    6·1 answer
  • Using weighted average, the cost of goods sold for the sale of 23 units on July 31 is ____ and the inventory balance at July 31
    14·1 answer
  • A business initially sells their product to customers for $50. They find that many people are buying their product so they rise
    8·1 answer
  • Stockholders, employees and environmentalists are examples of stakeholders whose interests
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!