Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lincoln, inc., which uses a volume-based cost syst

Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $170...

80.2K

Verified Solution

Question

Accounting

Lincoln, Inc., which uses a volume-based cost system, produces cat condos that sell for $170 each. Direct materials cost $25 per unit, and direct labor costs $13 per unit. Manufacturing overhead is applied at a rate of 270% of direct labor cost. Nonmanufacturing costs are $32 per unit. What is the gross profit margin for the cat condos? (Round your intermediate calculations to nearest whole dollar.)

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!
Become a Member

Other questions asked by students

Physics
1.2K views

The ionisation energy of a hydrogen like Bohr atom is 4 Rydbergs The wavelength of...

Statistics
1.2K views

Three forces are acting on a modern streetlamp at points A B and C a...

Biology
1.2K views

Explain in brief why the study of genetics is important for human society.

Accounting
1.2K views

What are some of the issues a company might face if they do not have enough...

Calculus
1.2K views

Use a substitution to find 0 7 0 It 150 13 S cos 2 de...

Accounting
1.2K views

Required information [The following information applies to...

Accounting
1.2K views

The Regal Cycle Company manufactures three types of bicyclesa dirt bike, a mountain...

Accounting
1.2K views

On December 1, 2016, Inst Photo Company purchased merchandise, invoice price $25,000, and issued a...

Accounting
1.2K views

In 2020, Lisa and Fred, a married couple, had taxable income of $303,000. If they...

Accounting
1.2K views

6. Calculation of required short-term borrowing. 6. Calculation of required short-term borrowing

Accounting
1.2K views

On January 2, 2018, the Jackson Company purchased equipment to be used in its manufacturing...

Finance
1.2K views

The primary incentive behind the corporate tax cuts back in 2017 was to stimulate the...