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Acme Company makes and sells a single product called a widget. Acme’s income statement for the current month is as follows: Each widget sells for $150. Variable selling expenses are $8 per widget, and the remainder of the selling expenses are fixed. Variable administrative expenses are 7% of sales revenue, and the remainder of the administrative expenses are fixed. Assume “Y” equals the total selling and administrative expenses and “X” equals the total number of widgets sold. What is the mixed cost formula for total selling and administrative expenses?

Acme Company produces and sells a single product. The relevant range is 200 to 600 units produced and sold per year. If Acme makes and sells 300 units during a year, the total cost per unit is $860. If Acme makes and sells 500 units during a year, the company’s total variable costs are $156,000. What is the per-unit fixed cost if 200 units are produced and sold during a year? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

Acme Company uses process costing and has three sequential processing departments: Departments A, B, and C. During the current month, the balance of Department B’s beginning work in process (WIP) inventory is $14,800, which includes $7,100 of transferred in costs. During the month, direct material costs added are $15,200, conversion costs incurred are $19,300, and transferred-in costs are $31,500. The balance of Department B’s ending WIP inventory is $16,100. What is the journal entry to record the transfer of units from Department A to Department B during the current month?

Before making its closing entries at the end of the year, Acme Company’s manufacturing overhead account has a debit balance of $26,500. During the year, the total amount of manufacturing overhead applied to jobs is $400,000, of which $280,000 is included in cost of goods sold, $88,000 is included in ending finished goods inventory, and $32,000 is included in ending work in process inventory. Assuming the amount in the manufacturing overhead account is material, the entry to correct the overapplied or underapplied manufacturing overhead will include a:

Acme Company makes the following estimates for the upcoming year: total annual manufacturing overhead costs of $750,000, total annual direct labor hours of 20,000 hours, and total annual machine hours of 40,000 hours. Acme’s direct labor costs are $30 per hour. Which of the following overhead rates accurately reflects Acme’s expected overhead costs? 

Before making its closing entries at the end of the year, Acme Company’s manufacturing overhead account has a debit balance of $29,500. During the year, the total amount of manufacturing overhead applied to jobs is $400,000, of which $280,000 is included in cost of goods sold, $88,000 is included in ending finished goods inventory, and $32,000 is included in ending work in process inventory. Assuming the amount in the manufacturing overhead account is material, the entry to correct the overapplied or underapplied manufacturing overhead will include a:

Acme Company makes and sells a single product called a widget. Acme’s income statement for the current month is as follows: Each widget sells for $150. Variable selling expenses are $8.50 per widget, and the remainder of the selling expenses are fixed. Variable administrative expenses are 7% of sales revenue, and the remainder of the administrative expenses are fixed. Assume “Y” equals the total selling and administrative expenses and “X” equals the total number of widgets sold. What is the mixed cost formula for total selling and administrative expenses?

Before making its closing entries at the end of the year, Acme Company’s manufacturing overhead account has a debit balance of $23,500. During the year, the total amount of manufacturing overhead applied to jobs is $400,000, of which $280,000 is included in cost of goods sold, $88,000 is included in ending finished goods inventory, and $32,000 is included in ending work in process inventory. Assuming the amount in the manufacturing overhead account is material, the entry to correct the overapplied or underapplied manufacturing overhead will include a:

During the current month, Acme Company’s total manufacturing costs added are $205,000, the balance of work in process inventory increases $9,000, and the balance of finished goods inventory decreases $6,000. Sales revenue are $383,000 and selling and administrative expenses are $84,000. What is Acme’s operating income during the current month?

Acme Company produces and sells a single product. The relevant range is 200 to 600 units produced and sold per year. If Acme makes and sells 300 units during a year, the total cost per unit is $860. If Acme makes and sells 500 units during a year, the company’s total variable costs are $120,000. What is the per-unit fixed cost if 200 units are produced and sold during a year? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).