A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:- Units in beginning inventory: 0- Units produced: 5,000- Units sold: 4,900- Units in ending inventory: 100**Variable costs per unit:**- Direct materials: $61- Direct labor: $63- Variable manufacturing overhead: $26- Variable selling and administrative expense: $24**Fixed costs:**- Fixed manufacturing overhead: $105,000- Fixed selling and administrative expense: $49,000**Question:**What is the variable costing unit product cost for the month?

Product costs are those cost which are incurred in creating the product. So, Unit Product cost for…

Answered: A manufacturing company that produces a…

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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Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Per Unit Per Year $ 200 $ 73 $ 50 $ 11 $ 8 $ 300,000 Using variable costing, what is the cost of the company's ending inventory?
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YaHo, Ltd. is a manufacturer that produces a single product. Below is data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 81,450 Units sold 77,820 Selling price per unit: $13.80 Variable costs per unit: Direct materials $2.90 Direct labor $2.05 Variable manufacturing overhead $1.30 Variable selling and administrative expense $1.05 Fixed costs (per month): Fixed manufacturing overhead $195,480 Fixed selling and administrative expense $218,825 Calculate net income for the month using variable costing. a. $173,236 b. $153,781 c. $115,120 d. $100,237 e. $91,525
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price 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 The total gross margin for the month under absorption costing is: Multiple Choice $81,900 $21,840 $128,430 $139,230 $ 144 0 3,020 2,730 290 $ 47 $21 $ 16 $9 $90,600 $35,490
The company’s variable costs per unit and total fixed costs have been constant from month to month
The following data is for a company that produces a single product. Selling price 193 Units in beginning inventory Units produced 3,090 2,910 Units sold Variable costs per unit: Direct materials 53 Direct labor 59 2$ Variable manufacturing overhead Variable selling and administrative expense 15 13 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 89,610 $ 8,730 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using variable costing. d. Prepare an income statement for the month using absorption costing. e. Reconcile the variable costing and absorption costing net operating incomes for the month. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E What is the unit product cost for the month under variable costing? Cost Per…
Ober Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price 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 Required: $ 127 0 8,970 8,540 430 $ 37 $ 36.50 $ 5.50 $ 12.50 $ 183,885 $ 109,900 a. Prepare a contribution format income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing.
Jarvix Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price... $111 Units in beginning inventory Units produced... Units sold. .. Units in ending inventory 400 8,800 8,900 300 Variable costs per unit: Direct materials Direct labor.... Variable manufacturing overhead.... Variable selling and administrative... $34 $37 $3 $9 ...*. ***** Fixed costs: Fixed manufacturing overhead Fixed selling and administrative.... $61,600 $169,100 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. A. What is the net operating income for the month under variable costing? B. What is the net operating income for the month under absorption costing?

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