A manufacturing company that produces a single product has provided the following data concerning its most 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? e 4,100 4,000 100 $ 43 $ 45 $8 $6 $86,100 $40,000

Q: What is notional principal?

A: This is a type of derivative used by two parties under a contract to exchange the consequences (net…

Q: Define Economic entity assumption.

A: Economic entity assumption is an accounting principle that separates the  transactions carried out…

Q: What is agency promblem in financial terms?

A: Agency problem is the conflict arises in the interest inherent in any relationship, in which one…

Q: Define acquiring company

A: The acquisition means when one company buys the more than 51% stake in another company. Companies…

Q: Identify the policyholder who transfers the title of the policy.

A: Answer

Q: What are operational assets? Give example?

A: Operational assets: Operational assets are those assets acquired for use in the day to day…

Q: Which concept is applied to net income and other comprehensive income? A. Borrowed Capital B.…

A:

Q: Distinguish between Income and Expenditure Account and Receiptand Payment Account.

A: Difference between income and expenditure account and receipt and payment account:

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: Define revenue-producing assets.

A: Current assets: The assets which could be converted into cash within one year like accounts…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.