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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- Financial Account post.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 was prepared by the Sandhill Company. Total Variable Fixed $ 24/unit Sales price $ 78, 750 Direct materials used Direct labor $91,000 $ 110, 750 $ 13,850 $ 96.900 Manufacturing overhead $ 22,000 $ 12,600 $9,400 Selling and administrative expense 25,500 units Units manufactured 20, 800 units Beginning Finished Goods Inventory 9,000 units Ending Finished Goods Inventory Under variable costing, what is the unit product cost?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 RequiredaThe 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,b
- Asplund 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 costPlease answer in text form without image, answer all requirementsKindly help me with accounting questions
- Gibson Manufacturing Company makes a product that sells for $74.60 per unit. Manufacturing costs for the product amount to $25.10 per unit variable, and $65,100 fixed. During the current accounting period, Gibson made 3,100 units of the product and sold 2,600 units. Selling and administrative expenses were zero. Required a. Prepare an absorption costing income statement. b. Prepare a variable costing income statement.During the current period, 14,000 units were produced and 12,000 units were sold. Fixed manufacturing costs incurred amounted to $126,000. An absorption costing income statement would report fixed manufacturing costs as which of the following? Select one: a.Costs of $108,000 as a deduction from gross profit to obtain operating income b.Overhead of $126,000 as a deduction from sales revenue to obtain gross profit c.Overhead of $108,000 as a deduction from sales revenue to obtain gross profit d.Costs of $126,000 as a deduction from sales revenue to obtain contribution marginFasetech, Inc. has collected the following data. Please answer these general accounting question