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 FMOH deferred with ending inventory?
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ABC Company produced 3,000 units and sold 2,500 units. Total fixed
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- Walsh Company manufactured 30,000 units during July. There were no units in inventory on July 1. Costs and expenses for July were as follows: Total Num Total Cost Number of Units Unit Cost Manufacturing costs: Variable $660,000 30,000 $22.00 Fixed 300,000 30,000 10.00 Total 960,000 Selling and administrative expenses: Variable $200,000 Fixed 160,000 Total. $360,000 If the company sells 25,000 units at $75 (units manufactured exceed units sold), prepare an income statement for July using: b. Variable costingWhat would be NUBD’s finished goods inventory at December 31, 2021 under the absorption costing method?Jax 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 $…
- Forster Company produced 18,500 units at an average cost of $6.70 each. The beginning inventory of finished goods was $5,159. (The average unit cost was $6.70.) Forster sold 18,620 units. How many units remain in ending finished goods inventory?Brian Pogi Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. a. How much is the period cost? b. What amount should the entity debit to finished goods?Direct materials purchased during the period cost $28,000, and there was an ending direct materials inventory of $4,000. If the beginning direct materials inventory was 20% of the cost of direct materials used in the production process, what was the cost of direct materials used in production for the period? a) $20,000 b) $40,000 c) $30,000 d) none of the above
- lomework (i) Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. \table[[Sales price,$56.10 per unit], [ Direct materials, $9.10 per unit], [Direct labor, $6.60 per unit], [Variable overhead,$11.10 per unit], [Fixed overhead,$750,300 per year]] Compute gross profit assuming (a) 61,000 units are produced and 61,000 units are sold and (b)82,000 units are produced and 61,000 units are sold. By how much would the company's gross profit increase or decrease from producing 21,000 more units than it sells?Grainger Company produces only one product and sells that product for $110 per unit. Cost information for the product is as follows: Direct Material $14 per Unit Direct Labor $24 per Unit Variable Overhead $4 per Unit Fixed Overhead $40,200 Selling expenses are $4 per unit and are all variable. Administrative expenses of $24,000 are all fixed. Grainger produced 6,000 units; sold 4,800; and had no beginning inventory. A. Compute net income under 1. Absorption Costing i Variable Costing B. Which costing method provide higher net income? By how much? The absorption costing ✔method provided more net income by Check My Work A. Remember that absorption costing includes all costs necessary for production. Conversely, variable costing only uses the variable costs that relate directly to the production process. Keep this in mind when calculating net income under each assumption. B. Depending on the cost method chosen, there will be differences due to the way fixed costs are treated under each…Using 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:
