(Answered) Question- the accounting records for miller fixtures report

Accounting

Question- The accounting records for Miller Fixtures report the following production costs for the past year:

Direct Materials $210,000

Direct Labor 175,000

Variable Overhead 154,000

Production was 210,000 units.

Fixed manufacturing overhead was $240,000.

For the coming year, costs are expected to increase as follows: direct materials costs by 20 percent, excluding any effect of volume changes: direct labor by 4 percent: and fixed manufacturing overhead by 10 percent. Variable manufacturing overhead per unit is expected to remain the same.

A. Prepare a cost estimate for a volume level of 220,000 units of product this year.

B. Determine the costs per unit for last year and for this year.

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