A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the variable costing unit product cost for the month? Multiple Choice O $139 per unit $123 per unit O $108 per unit $118 per unit 0 4,300 4,200 100 $ 47 $49 $ 12 $ 10 $90,300 $42,000

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the variable costing unit product cost for the month? Multiple Choice O $139 per unit $123 per unit O $108 per unit $118 per unit 0 4,300 4,200 100 $ 47 $49 $ 12 $ 10 $90,300 $42,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (6, 100 units) $201, 300 Cost of goods sold: Cost of goods manufactured (7, 100 units) $163,300 Inventory, April 30 (1,000 units) (23,000) Total cost of goods sold (140, 300) Gross profit $61,000 Selling and administrative expenses (36,830) Operating income $24, 170 If the fixed manufacturing costs were $ 44,091 and the fixed selling and administrative expenses were $18, 040, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 $Sales Variable cost of goods sold: $- Select - - Select - - Select - $- Select - - Select - $ - Select - Fixed costs: $Variable cost of goods sold Fixed…
What is the Total period cost for April under variable costing?A. P 55,200 B. P 82,500 C. P 123,900D. P 137,700
Murphy Inc., which produces a Single product has provided the following data for its most recent Month of operation. Number of units produced Variable cost per unit: Direct materials. Direct Labov Variable manufacturing overhead Variable and adminstrative expenses. Selling Fixed cost: Fixed manufacturing Overhead Fixed Selling and adminstrative expenses 7,000 $37 $43 $15 $84,000 $119,000 The Company had no beginning or ending inventories Required a. Compute the unit product cost under absorption costing b. Compuse the unit product cost under variable costing.
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Beamish Incorporated, which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense Multiple Choice There were no beginning or ending inventories. The absorption costing unit product cost was: $101 per unit $139 per unit $106 per unit 10,900 $ 51 $ 50 $223 per unit $5 $9 $359,700 $817,500
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Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin CompanyAbsorption Costing Income StatementFor the Month Ended April 30 Sales (6,600 units) $178,200 Cost of goods sold: Cost of goods manufactured (7,700 units) $146,300 Inventory, April 30 (1,100 units) (20,900) Total cost of goods sold (125,400) Gross profit $52,800 Selling and administrative expenses (32,280) Operating income $20,520 If the fixed manufacturing costs were $39,501 and the fixed selling and administrative expenses were $15,810, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin CompanyVariable Costing Income StatementFor the Month Ended April 30 $Sales Variable cost of goods sold: $Variable cost of goods manufactured…