Please provide correct answer general accounting A company produces a single product. Variableproduction costs are $13.50 per unit and variable sellingand administrative expenses are $4.50 per unit. Fixedmanufacturing overhead totals $51,000, and fixed andadministrative expenses total $55,000. Assuming abeginning inventory of zero, production of 5,000 units,and sales of 4,350 units, what would be the dollar valueof the ending inventory under variable costing?

Step 1: Define Variable CostingVariable costing is the usually used in internal reports wherein…

Answered: A company produces a single product.…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 1PB: When prices are falling (deflation), which costing method would produce the highest gross margin for...

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Garrett Company provided the following information: Common fixed cost totaled 46,000. Garrett allocates common fixed cost to Product 1 and Product 2 on the basis of sales. If Product 2 is dropped, which of the following is true? a. Sales will increase by 300,000. b. Overall operating income will increase by 2,600. c. Overall operating income will decrease by 25,000. d. Overall operating income will not change. e. Common fixed cost will decrease by 27,600.
Grainger Company produces only one product and sells that product for $100 per unit. Cost information for the product is: Selling expenses are $4 per unit and are all variable. Administrative expenses of $20,000 are all fixed. Grainger produced 5,000 units; sold 4,000; and had no beginning inventory. A. Compute net income under absorption costing variable costing B. Reconcile the difference between the income under absorption and variable costing.
The following information pertains to Vladamir, Inc., for last year: There are no work-in-process inventories. Normal activity is 100,000 units. Expected and actual overhead costs are the same. Costs have not changed from one year to the next. Required: 1. How many units are in ending inventory? 2. Without preparing an income statement, indicate what the difference will be between variable-costing income and absorption-costing income. 3. Assume the selling price per unit is 29. Prepare an income statement using (a) variable costing and (b) absorption costing.
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A company produces a single product. Variable production costs are P12 per unit and variable selling and administrative expenses are P3 per unit. Fixed manufacturing overhead totals P36,000 and fixed selling and administration expenses total P40,000. Assuming a beginning inventory of zero, production of 4,000 units and sales of 3,600 units, the peso value of the ending inventory under variable costing would be a. P4,800 b. P8,400 c. P6,000 d. P3,600
The carrying value of ending inventory under variable costing would be: present as is if higher or present it in comma if it is less ex: (200) Under absorption costing, the cost of goods sold would be:
A company produces a single product. Variable production costs are $12.80 per unit and variable selling and administrative expenses are $3.80 per unit. Fixed manufacturing overhead totals $44,000 and fixed selling and administration expenses total $48,000. Assuming a beginning inventory of zero, production of 4,800 units and sales of 4,000 units, the dollar value of the ending inventory under variable costing would be: Multiple Choice $17,440 $10,240 $7,200 $13,280
1. Based on variable costing, what would the corporation show as the value of its ending inventory? 2. What would NUBD Corp. have reported as its income before income taxes if it had used variable costing?
Can you answer this financial Accounting Question?
Compute the following: The amount of ending inventory reported under absorption costing method If the number of units is equal to its production of 1,200 units, the amount of ending inventory reported under absorption costing method If 1,350 units were sold instead, what would be the operating income under variable costing method?
Panta Corp had net income of P226,000 based on variable costing. Beginning and ending inventories were 7,400 units and 12,800 units, respectively. Assume the fixed overhead per unit was P5 for both the beginning and ending inventory. What is net income under absorption costing?
The carrying value of ending inventory under variable costing would be:A. P1,400 higher than under absorption costing B. P1,400 less than under absorption costing C. P800 less than under absorption costingD. the same as under absorption costing

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