Maurice Tutor

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Category > Accounting Posted 07 Aug 2017 My Price 6.00

Gonzalez Corporation

*P8-7A Gonzalez Corporation needs to set a target price for its newly designed product EverReady. The following data relate to this new product.

Per Unit            Total

Direct materials

$20

 

Direct labor

$40

Variable manufacturing overhead

$10

Fixed manufacturing overhead

 

 

$1,200,000

Variable selling and administrative expenses

$ 5

 

 

Fixed selling and administrative expenses

 

 

$1,120,000

The costs shown above are based on a budgeted volume of 80,000 units produced and sold each year. Gonzalez uses cost-plus pricing methods to set its target selling price.  Because

 

 

 

some managers prefer absorption-cost pricing and others prefer variable-cost pricing, the accounting department provides information under both approaches using a markup of 50% on absorption cost and a markup of 70% on variable  cost.

Instructions

(a)  Compute the target price for one unit of EverReady using absorption-cost pricing.

(b)  Compute the target price for one unit of EverReady using variable-cost pricing.

Answers

Maurice Tutor
(5)
Status NEW Posted 07 Aug 2017 12:08 AM My Price 6.00

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