Tangshang Industries production budget from the 2nd quarter of 2018, projected the following amounts of units to be produced:
April 1,000 units
May 1,200 units
June 1,250 units
Each unit requires 2 parts of component A and 3 parts of component B. Component A cost is $1.25 per unit and component B cost is $.80 per unit.
Direct Material budgeted cost for May 2018 =$5880
b) Total unit produced = 3450
Direct Material budgeted cost for the quarter April - June 2018 =$ 16905
c) inventory of component A is required in April 2018 =Unit produced in april *requirement= 2000 components
Total Direct Labor Cost in the processing department for the quarter April – June 2018= $ 27600
Total Direct Labor Cost for June 2018. =$ 17500
Total Direct Labor Cost for the quarter April – June 2018.=[ Total unit produced * hours used in processing department *rate of processing department) +([ Total unit produced * hours used in assembly department *rate of assembly department)= $ 4830
Variable Factory overhead is $.60 per unit
Fixed Factory overhead is $1,000 monthly
Using the information from the production budget of Tangshang Industries
Calculate total variable overhead cost for May 2018
Calculate total variable overhead cost for the quarter April - June 2018
Calculate total overhead cost for the quarter April - June 2018
Calculate total product cost for the quarter April - June 2018
Calculate total product cost per unit for the quarter April - June 2018
If the sale price is $32.50, what will be the Gross Profit per unit?
If the sale price is $32.50 for the units produced during the quarter, what will be the Total Gross Profit?