Mid-Term Exam Accounting 5250

Answer the following questions show all work on how you came to get your answer… NO PLAGIARISM ALLOWED!!!
1. Variable Costs of Goods Sold $640,000
Fixed Administrative Costs 220,000
Fixed selling expenses 100,000
Sales 1,400,000
Variable Administrative Costs 60,000
Variable selling expenses 140,000

What is the company’s CONTRIBUTION MARGIN?

2. Northern Company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. At the beginning of the year the company estimated manufacturing overhead would be $400,000 and direct labor hours would be 40,000. The actual figures for the year were $430,000 for overhead and 42,000 direct labor hours. IS THE MANUFACTURING OVERHEAD OVER APPLIED OR UNDERAPPLIED FOR THE YEAR AND BY HOW MUCH?

2. WT Co. sells a single product for $30 per unit. Variable costs are $18 per unit. Total fixed costs are $60,000. What is the Breakeven point in dollars and units?

3. In # 4 above what is the contribution margin per unit? How many units must be sold to earn a target profit of $200,000?

3. Expected Activity

Estimated Cost Product A Product B

$28,000 400 300

What is the activity rate under ABC costing for this activity?

How much total cost is expected to be individually assigned to Products A and B for this activity?
TO ORDER FOR THIS QUESTION OR A SIMILAR ONE, CLICK THE ORDER NOW BUTTON AND ON THE ORDER FORM, FILL ALL THE REQUIRED DETAILS THEN TRACE THE DISCOUNT CODE, TYPE IT ON THE DISCOUNT BOX AND CLICK ON ‘USE CODE’ TO EFFECT YOUR DISCOUNT. THANK YOU