COSL Meno O Product cosy MyPhone, Inc. uses the product cost method of applying the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
COSL Meno O Product cosy MyPhone, Inc. uses the product cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 4,950 cell phones are as follows: Variable costs per unit: Fixed costs: Direct materials $60 Factory overhead $ 201,600 Direct labor 32 Selling and administrative expenses 68,100 Factory overhead 22 Selling and administrative expenses 22 Total variable cost per unit $136 MyPhone desires a profit equal to a 13% rate of return on invested assets of $599,000. a. Determine the amount of desired profit from the production and sale of 4,950 cell phones. $ 77,870 b. Determine the product cost per unit for the production of 4,950 of cell phones. Round your answer to the nearest whole dollar. $ 155 per unit c. Determine the product cost markup percentage for cell phones. Round your answer to two decimal places. 33 X % d. Determine the selling price of cell phones. Round your answers to the nearest whole dollar. Total Cost per unit Markup per unit Selling price per unit
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
