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: $65,000 $95,100 $20,000 $57,500 S SSSS 119 0 3,000 2,600 400 31 3529 45 S 48,000 S 15,000

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 The total gross margin for the month under absorption costing is: $65,000 $95,100 $20,000 $57,500 S SSSS 119 0 3,000 2,600 400 31 3529 45 S 48,000 S 15,000

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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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
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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 $ 117 Units in beginning inventory 0 Units produced 2,900 Units sold 2,500 Units in ending inventory 400 Variable costs per unit: Direct materials $ 32 Direct labor $ 45 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $ 43,500 Fixed selling and administrative expense $ 15,000 The total gross margin for the month under absorption costing is: $57,500 $72,500 $95,100 $20,000
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
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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
1. COMPUTE THE UNIT PRODUCT COST UNDER ABSORPTION COSTING 2. COMPUTE THE UNIT PRODUCT COST UNDER VARIABLE COSTING
Denton Company manufactures and sells a single product. Cost data for the product are given: Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month July August The product sells for $48 per unit. Production and sales data for July and August, the first two months of operations, follow: Units Produced 27,000 27,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income $ 108,000 172,000 $ 280,000 Required: 1. Determine the unit product cost under: a. Absorption costing. b. Variable costing. $ 5 11 3 2 $ 21 Units Sold 23,000 31,000 The company's Accounting Department has prepared the following absorption costing income statements for July and August: July August $ 1,104,000 $ 1,488,000 529,000 575,000 218,000 $ 357,000 713,000 775,000 234,000…
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