A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:Selling priceUnits in beginning inventoryUnits producedUnits soldUnits in ending inventoryVariable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrative expenseFixed costs:Fixed manufacturing overheadFixed selling and administrative expense885,2004,90030012232$161, 200$ 63,700The total contribution margin for the month under variable costing is:Multiple CholceS64.2003249,900---- 0< Prev14 of 36Next >濾源73°F Mostly suSLEhere to searchDELL5.

The contribution margin is the difference between total sales and the variable cost. It indicates…

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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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
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: $ 88 Selling price Units in beginning inventory Units produced 5,200 Units sold 4,900 300 Units in ending inventory Variable costs per unit: $ 12 Direct materials $23 Direct labor $ 2 Variable manufacturing overhead Variable selling and administrative expense $ 5 Fixed costs: $161,200 Fixed manufacturing overhead Fixed selling and administrative expense $ 63,700 The total contribution margin for the month under variable costing is: Multiple Choice $225.400
The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $111,400 276,800 May 84,900 168,600 June 102,200 230,700 Using the high-low method, the variable cost per unit and the total fixed costs are
At the end of the first year of operations, 5,600 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $29.10 Direct labor 13.20 Fixed factory overhead 4.80 Variable factory overhead 4.20 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $
Sims Company began operations on January 1. Its cost and sales information for this year follow. Direct materials $ 30 per unit Direct labor $ 50 per unit Variable overhead $ 40 per unit Fixed overhead $ 6,600,000 per year Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 4,250,000 per year Units produced 110,000 units Units sold 80,000 units Sales price $ 360 per unit 1. Prepare an income statement for the year using variable costing.2. Prepare an income statement for the year using absorption costing.
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units produced Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1,000 $50 $47 $2 $8 $31,000 $69,000 There was no beginning or ending inventories. What is the unit product cost under variable costing?
Required: Compute the unit product cost under absorption costing. Compute the unit product cost under variable costing.
1. What was Product J's unit cost under cost absorption costing? 2. What was Product J's unit cost under variable costing?
Ashvinbhai
Haresh
The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $112,700 275,900 May 91,900 163,500 June 108,700 247,900 Using the high-low method, the variable cost per unit and the total fixed costs are
During the month of May, Lorna Corporation sold 1,000 units. The cost per unit for May was as follows. Cost Per Unit Direct Materials P 5.50 Direct Labor 3.00 Variable Manufacturing Overhead Fixed Manufacturing Overhead 1.00 1.50 Variable Administrative Costs .50 Fixed Administrative Costs 3.50 ТОTAL P 15.00 Robinson's income during the month of May using absorption costing was P 9,500. The income for May, if variable costing had been used, would have been P 9,125. Required: Determine the number of units Robinson produced during May.

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