ABC Company produced 3,000 units and sold 2,500 units. Total fixed manufacturing overhead cost is $12,000. Cost of FG ending inventory under VC is $2,500. How much is the cost of goods sold under AC?
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ABC Company produced 3,000 units and sold 2,500 units. Total fixed
How much is the cost of goods sold under AC?
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- Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Units in beginning inventory 0 Units produced 10,000 Units sold 9,000 Direct materials $ 40,000 Direct labor $ 20,000 Variable manufacturing overhead $ 12,000 Fixed manufacturing overhead $ 25,000 Variable selling and administrative expenses $ 4,500 Fixed selling and administrative expenses $ 30,000 Assume that direct labor is a variable cost. Under absorption costing, the value of the ending finished goods inventory would be: $7,200 $9,700 $7,650 $8,000ABC Company produced 3,000 units and sold 2,500 units. Total fixed manufacturing overhead cost is $12,000. Cost of FG ending inventory under VC is $2,500. How much is FMOH deferred with ending inventory?Hansaben
- Kluber, Inc. had net income of $918,000 based on variable costing. Beginning and ending inventories were 56,800 units and 55,600 units, respectively. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What is net income under absorption costing?The Bradley Corporation produces a product with the following costs as of July 1, 20X1: Material Labor Overhead $ 4 per unit 2 per unit 2 per unit Beginning inventory at these costs on July 1 was 3,150 units. From July 1 to December 1, 20X1, Bradley Corporation produced 12,300 units. These units had a material cost of $4, labor of $6, and overhead of $3 per unit. Bradley uses LIFO inventory accounting. a. Assuming that Bradley Corporation sold 13,600 units during the last six months of the year at $18 each, what is its gross profit? Answer is complete but not entirely correct. Gross profit $ 74,800x b. What is the value of ending inventory? Answer is complete but not entirely correct. Ending inventory S 12,800 xJax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. Sales price Direct materials Direct labor Variable overhead Fixed overhead $ 56.60 per unit $ 9.60 per unit $ 7.10 per unit $ 11.60 per unit $ 910,800 per year 1. Compute gross profit assuming (a) 66,000 units are produced and 66,000 units are sold and (b) 92,000 units are produced and 66,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 26,000 more units than it sells? Complete this question by entering your answers in the tabs below. es Required 1 Required 2 Compute gross profit assuming (a) 66,000 units are produced and 66,000 units are sold and (b) 92,000 units are produced and 66,000 units are sold. (a) 66,000 Units Produced and 66,000 (b) 92,000 Units Produced and 66,000 Units Sold Units Sold Sales $ 3,735,600 $ 5,207,200 Cost of goods sold 2,838,000 3,514,400 Gross profit $…
- Front Company had net income of $88,500 based on variable costing. Beginning and ending inventories were 2,400 units and 4,400 units, respectively. Assume the fixed overhead per unit was $8.70 for both the beginning and ending inventory. What is net income under absorption costing? Multiple Choice • 89,700 • $29,340 $147,660 S105,900 • S71,100Gurtner Corporation has provided the following data concerning last month’s operations. Cost of goods manufactured $170,000 Underapplied overhead $ 4,000 Beginning Ending Finished goods inventory $33,000 $40,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold? Multiple Choice A. $170,000 B. $167,000 C. $203,000 D. $163,000Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. Sales price $ 57.50 per unit Direct materials $ 10.50 per unit Direct labor $ 8.00 per unit Variable overhead $ 12.50 per unit Fixed overhead $ 1,237,500 per year 1. Compute gross profit assuming (a) 75,000 units are produced and 75,000 units are sold and (b) 110,000 units are produced and 75,000 units are sold.2. By how much would the company’s gross profit increase or decrease from producing 35,000 more units than it sells?
- Ming Company had income of $771,200 based on variable costing. Beginning and ending finished goods inventories were 7,700 units and 5,100 units, respectively. Assume the fixed overhead per unit was $2.90 for both the beginning and ending finished goods inventory. What is income under absorption costing? (Amounts to be deducted should be indicated with a minus sign.) Variable costing income Fixed overhead in beginning FG inventory Fixed overhead in ending FG inventory Absorption costing incomeUsing Direct Costing Method, sha Company had a net profit of ₱76,300. Ending inventory decreased from 80,000 units to 78,500. The fixed MOH had a total cost of 650,000 and produced 50,000 units. The operating income under absorption costing is:D’Souza Company sold 12,000 units of its product for $76.00 per unit. Cost of goods sold is $54.60 per unit. Each unit had $49.20 in variable cost of goods sold and variable selling and administrative expenses are $9.60 per unit. Compute gross profit under absorption costing.
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