Name: Date: Instructor: Course: Managerial Accounting, 3rd Edition, by Weygandt, Kieso, and Kimmel Solving Managerial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse Problem P8-1A, Lafluer Corporation needs to set a target price for its newly designed product M14-M16 The following data relate to this new product Per Unit Total Direct materials $20 Direct labor $42 Variable manufacturing overhead $10 Fixed manufacturing overhead $1,440,000 Variable selling and admin expense $5 Fixed selling and admin expense $1,040,000 These costs are based on a budgeted volume of 80,000 units produced and sold each year Lafluer uses cost-plus pricing methods to set its target selling price The markup on total unit cost is 30% Instructions: (a)(1) Compute the total variable cost per unit for M14-M16 Direct materials Amount Title Amount Title Amount Title Amount Title Formula (a)(2) Compute the total fixed cost per unit for M14-M16 Total Budgeted Cost Costs ÷ Volume = Per Unit Title Amount Value Formula Title Amount Value Formula Title Formula Value Formula (a)(3) Compute the total cost per unit for M14-M16 Title Amount Title Amount Title Formula (b) Compute the desired ROI per unit for M14-M16 Title Amount Title Percentage Title Formula (c) Compute the target selling price for M14-M16 Title Amount Title Amount Title Formula (d) Compute variable cost per unit, fixed cost per unit, and total cost per unit assuming that 60,000 M14-M16s are sold during the year (Round to 2 decimal places) Title Amount Title Amount Title Formula FileName: 3e34e7d4-71ee-496f-97e3-5af401529c6a.xls, Tab: Problem P8-1A, Page 1 of 2, 8/15/2011, 10:26 AM Instructions for the Microsoft Excel Templates Detail and information on Excel is contained within the manual. Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring up one of several help menus. Type your name into the cell "D5". This will be copied by formula to the rest of the pages as required. Type the due date of your problem into cell "I5". This will be copied by formula to the rest of the pages as required. Type the instructor's name into cell "D6". This will be copied by formula to the rest of the pages as required. Type the course identifier into cell "I6". This will be copied by formula to the rest of the pages as required. The problem is identified for you in cell "B7". In "DATE" cells enter the date in any of several formats and Excel will format it correctly. If more than one page is preformatted into the problem, page breaks are preset and formulas are set to copy the header into the remaining pages. Place the proper account title in the cell where the word "ACCOUNT" appears on the template. Place the amount in the cell where the word "AMOUNT" appears on the template. A formula may be placed in Enter a number like 914 to signify units or gallons where the word "NUMBER" appears. Write a formula into cells where the word "FORMULA" appears. In these cells, an amount calculated outside of Place the explanation for the entry in the cell where the word "EXPLANATION" appears on the template. Insert the account number where "ACCT #" appears on the template during posting. Insert the journal reference where "JOURN #" appears on the template during posting. Insert the title in the cell where "TITLE" appears on the template. The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required. The gray filled cells define the perimeter of the problem and the print area. The problem is formatted for whole dollars with comma separations (no cents) except where required. The display may have "Freeze Pane" invoked so column titles remain visible during data entry. Negative values may be shown as ($400) vice -$400. Enter a string like: ($259,417 X 12 months) + (0.3651 X 5,434,631) where the word TEXT appears.