accounting homework 346522

2060000 1615200 444800 450503 5703 2060000 1496800 563200 568903 5703 862800 1115400 1368000 3451200 4461600 5472000 6039600 7807800 9576000 8628000 11154000 13680000 18118800 23423400 28728000 7277040 7277040 7277040 3638520 3638520 3638520 10915560 10915560 10915560 29034360 34338960 39643560 Variable costs = 56% of sales Fixed costs = $187,100 Management’s net income goal = $82,092 Required sales to reach target income of $82,092 = (Total fixed cost + Target income)/(Contribution margin ratio) Contribution margin ratio = (100% variable cost percentage) Contribution margin ratio = (100% 56%) Contribution margin ratio = 54% Required sales to reach target income of $82,092 = (187100+82092)/54% Required sales to reach target income of $82,092 = $498,503.7 Solution 19 17 Manufacturing cost per unit (variable costing) = $7.73 + $2.52 + $5.92 Manufacturing cost per unit (variable costing) = $16.17 per unit a) Manufacturing cost per unit (variable costing) = Direct material + Direct labor + Variable manufacturing overhead b) Variable costing income statement: POLK COMPANY Income statement For the year ended December 31, 2012 Variable costing Sales Less: Variable costs Contribution margin Less: Fixed costs Operating profit Amt. d) Absorption costing income statement: Absorption costing Less: Cost of goods sold Gross margin Less: Selling and admin expenses Direct material Direct labor Variable overhead Total Depreciation for 2012 based on expected annual sales of 1,212,840 = 6*1,212,840 Total Depreciation for 2012 based on expected annual sales of 1,212,840 = $7,277,040 Total supervision cost for 2012 based on expected annual sales of 1,212,840 = $3,638,520 Total supervision cost for 2012 based on expected annual sales of 1,212,840 = 3*1,212,840 Note: Depreciation Supervision Variable cost: Total variable costs (a) Total Fixed costs (b) Total costs (a+b) Answer wrong according to book Book only has these categories: admin…