A company reports sales of $260,000, wages totaling $100,000 for production workers, and the plant manager's salary of $75,000. Under the variable costing method, the manufacturing margin is A) $85,000 B) $160,000 C) $360,000 D) None of the above
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- answer in text form please (without image)A manufacturing company produces and sells widgets. The company uses the marginal costing method for its internal reporting purposes. For the fiscal year ending December 31, 20X3, you are provided with the following information: Total production: 50,000 units Total sales: 40,000 units Selling price per unit: $20 Variable manufacturing cost per unit: $8 Fixed manufacturing overhead: $200,000 Variable selling and administrative expenses per unit: $2 Fixed selling and administrative expenses: $80,000 Opening inventory: 10,000 units Closing inventory: 20,000 units Assuming the company uses a periodic inventory system, calculate the following: Total Revenue: Calculate the total revenue for the fiscal year based on the given sales information. Total Variable Costs: Determine the total variable costs, including both variable manufacturing costs and variable selling/administrative expenses. Total Contribution Margin: Find the total contribution margin for the fiscal year. Total Fixed Costs:…A manufacturer reports direct materials of $4 per unit, direct labor of $1 per unit, and variable overhead of $3 per unit. Fixed overhead is $128,000 per year, and the company estimates sales of 12,800 units at a sales price of $20 per unit for the year. The company has no beginning finished goods inventory. 1. If the company uses absorption costing, compute gross profit assuming (a) 12,800 units are produced and 12,800 units are sold and (b) 16,000 units are produced and 12,800 units are sold. 2. If the company uses variable costing, how much would contribution margin differ if the company produced 16,000 units instead of producing 12,800? Assume the company sells 12,800 units. Hint: Calculations are not required.
- A manufacturer reports direct materials of $5 per unit, direct labor of $2 per unit, and variable overhead of $3 per unit. Fixed overhead is $152,000 per year, and the company estimates sales of 15,200 units at a sales price of $23 per unit for the year. The company has no beginning finished goods inventory. 1. If the company uses absorption costing, compute gross profit assuming (a) 15,200 units are produced and 15,200 units are sold and (b) 19,000 units are produced and 15,200 units are sold. 2. If the company uses variable costing, how much would contribution margin differ if the company produced 19,000 units instead of producing 15,200? Assume the company sells 15,200 units. Hint: Calculations are not required. Complete this question by entering your answers in the tabs below. Required 1 Required 2 If the company uses absorption costing, compute gross profit assuming (a) 15,200 units are produced and 15,200 units are sold and (b) 19,000 units are produced and 15,200 units are sold.…Dobosh Corporation has provided the following information: Cost per Unit $ 7.65 $ 4.25 $ 2.20 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling andadministrative expense $ 2.10 $ 1.15 Cost per Period $ 132,600 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 9,240 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 9,240 units? c. If 10,000 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. d. If 10,240 units are sold, what is the total amount of variable costs related to the units sold? a. Total product cost b. Total period cost c. Variable cost per unit sold d. Total variable costs $ 51,450 e. If 10,240 units are produced, what is the total amount of manufacturing overhead cost incurred? f. If the selling price is…The following data are from the accounting records of Niles Castings for year 2 87,000 Units produced and sold Total revenues and costs $250,000 63,000 38,000 20,000 45,000 12,500 33,000 Sales revenue Direct naterials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a contribution margin income statement. Contribution Margin Income Statement < Required A Requireda
- The following data are from the accounting records of Niles Castings for year 2. Units produced and sold 87,000 Total revenues and costs Sales revenue $ 290,000 Direct materials costs 68,000 Direct labor costs 39,000 Variable manufacturing overhead 13,000 Fixed manufacturing overhead 47,000 Variable marketing and administrative costs 14,000 Fixed marketing and administrative costs 36,000 Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Please answer reuired a,bThe following information were obtained from the records of HILO Company: Production in units 8, 000 Manufacturing costs: Direct Materials P5 per unit Direct labor 3 per unit Variable overhead 1 per unit Fixed overhead total 100, 000 Sales price 40 per unit The operating profit under absorption costing is P30, 000 and the unit sales is 5,000. Questions: a. What is the amount profit/(loss) under absorption costing? (profit/loss) b. What is the total period expense recognized by the company if it used variable costing system? c. What is the total period costs under absorption costing ?The data given below relate to Frempomaa Ltd. for the year ended 31/12/2000: Fixed factory overhead cost was GHC160,000 Production units 1,000 units Sales 800 units at GHC500 Administration cost was GHC40,000 Variable selling and distribution overheads GHC80 Direct labour GHC70 per unit Direct material GHC50 per unit Prepare the profit and loss account using each of the following cost techniques: (a) Marginal Costing (b) Absorption Costing
- Kindly respond to the following questionPlease do not give image formatAsplund Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense Cost per Unit $ 6.95 Cost per Period $ 3.60 $ 2.00 $ 20,800 $ 1.50 $ 0.45 $ 8,900 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 5,280 units? b. For financial reporting purposes, what is the total amount of period costs incurred to sell 5,280 units? a. Total product cost b. Total period cost