13. B Company produces a single product. During March, the company hadnet operating income under absorption costing that was P3,500 lower thanunder variable costing. The company sold 7,000 units in March, and itsvariable costs were P7 per unit, of which P3 was variable selling expense. Iffixed manufacturing overhead was P2 per unit under absorption costing,then how many units did the company produce during March? *a. 5,250 unitsb. 8,750 unitsc. 6,500 unitsO d. 6,125 units

Formula: Units produced = Total sales units - [( Net operating income lower than under absorption…

Answered: 13. B Company produces a single…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A company produced and sold 3,400 units of its only product this year. The sales price is $162 per unit. Fixed costs include overhead of $85,000 per year, and selling and administrative expenses of $68,000 per year. Variable costs per unit follow. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Use variable costing to compute contribution margin. Variable expenses Contribution Margin (Variable Costing) $ 28 per unit $ 30 per unit $5 per unit 34 per unit
10 In July, TPM Co. incurred total costs of $60,000 and made 6000 units. In December it produced 4000 units and total costs were $40,000. What is the variable cost per unit? a. S12.00 b. $15.00 c. S10.00 d. $8.00
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units produced Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1,000 $50 $47 $2 $8 $31,000 $69,000 There was no beginning or ending inventories. What is the unit product cost under variable costing?
11. The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $116,900 281,000 May 85,100 160,800 June 103,700 244,200 Using the high-low method, the variable cost per unit and the total fixed costs are
11. Wally Inc. produces a single product. During August, the company sold 7,000 units. Total variable costs for the company were $7. Fixed production cost per unit for August was $3 and selling expenses were $1 per unit. For the month, the company reported an operating income under variable costing that was $5,400 higher than under absorption costing. How many units did the company produce during August? a. 8,800 b. 7,900 с. 6,100 d. 5,200 е. 6,460 f. 6,400 g. 7,600 h. None of the above
Assume the following information for the first year of operations for a company that sells only one product for a price of $48 per unit: 19 Variable cost per unit: Direct materials 25 Fixed costs per year: points Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $140,000 $200,000 $ 70,000 00:31:10 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first y operations, the company produced 20,000 units and sold 18,000 units. The company wishes to compare a variable costing system that assigns $7.00 of direct labor cost to each unit produced with a super-varia system. Which of the following statements is true when comparing these two cost systems? Multiple Choice The variable costing net operating income will be $14,000 greater than the super-variable costing net operating Income. The variable costing net operating income will be $126,000 greater than the super-variable costing…
Rovinsky Corp, a company that produces and sells a single product, has provided its contribution format income statement for November. Sales (5,700 units) $319,200 Variable Expenses 188,100 Contribution Margin 131,100 Fixed Expenses 106,500 Net Operating Income 24,600 Calculate the breakeven point in: a. sales units (round to the nearest whole unit) b. and sales dollars

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS