A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:- **Selling price**: $165- **Units in beginning inventory**: 0- **Units produced**: 12,700- **Units sold**: 12,000- **Units in ending inventory**: 700**Variable costs per unit**:- Direct materials: $53- Direct labor: $48- Variable manufacturing overhead: $6- Variable selling and administrative expense: $4**Fixed costs**:- Fixed manufacturing overhead: $406,400- Fixed selling and administrative expense: $216,000**Question**: What is the total period cost for the month under variable costing?**Multiple Choice**:- $406,400- $264,000- $622,400- $670,400

Variable costing is the method using which the income statement can be prepared. Under this method,…

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 What is the total period cost for the month under variable costing? Multiple Choice $406,400 $264,000 $622,400 $670,400 $ 165 0 12,700 12,000 700 $ 53 $ 48 $6 $4 $406,400 $216,000

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 What is the total period cost for the month under variable costing? Multiple Choice $406,400 $264,000 $622,400 $670,400 $ 165 0 12,700 12,000 700 $ 53 $ 48 $6 $4 $406,400 $216,000

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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The following data is for a company that produces a single product. selling price 24 193 Units in beginning inventory Units produced Units sold 3,090 2,910 Variable costs per unit: Direct materials 24 24 24 24 53 Direct labor 59 variable manufacturing overhead variable selling and administrative expense Fixed costs: 15 13 Fixed manufacturing overhead Fixed selling and administrative $ 89,610 $ 8,730 Required: a. What is the unit product cost for the month under varlable 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 varlable costing. d. Prepare an Income statement for the month using absorption costing. e. Reconcile the varlable 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 Prepare a contribution format income statement for the month using…
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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 154 2,560 2,230 330 51 24 $. 15 16 $92,160 $11,150 The tegross margin for the month under absorption costing is: Multiple Chotce $62.440 S15.610, K Prev 4: of 10 Next > ere to search
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