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Brief Exercise 18-8
Meriden Company has a unit selling price of $590, variable costs per unit of $354, and fixed costs of $203,432.
Compute the break-even point in units using the mathematical equation.
Break-even point          
 units
Brief Exercise 18-10
For Turgo Company, variable costs are 57% of sales, and fixed costs are $178,700. Management’s net income goal is $82,525.
Compute the required sales in dollars needed to achieve management’s target net income of $82,525.
Required sales        $  
 
Brief Exercise 18-11
For Kozy Company, actual sales are $1,270,000 and break-even sales are $825,500.
Compute the margin of safety in dollars and the margin of safety ratio.
Margin of safety        $  
Margin of safety ratio          
 %
Brief Exercise 19-16
Montana Company produces basketballs. It incurred the following costs during the year.
Direct materials        $14,283
Direct labor        $25,755
Fixed manufacturing overhead        $10,420
Variable manufacturing overhead        $32,191
Selling costs        $20,932
What are the total product costs for the company under variable costing?
Total product costs        $  
        
 Exercise 19-17
Polk 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        $8.25
Direct labor        $2.70
Variable manufacturing overhead        $6.33
Variable selling and administrative expenses        $4.29
         
Fixed Costs per Year        
Fixed manufacturing overhead        $260,032
Fixed selling and administrative expenses        $264,110
Polk Company sells the fishing lures for $27.50. During 2012, the company sold 81,100 lures and produced 95,600 lures.
a.) Assuming the company uses variable costing, calculate Polk’s...