Homework Help is Here – Start Your Trial Now!
Business
Accounting
Alpha Company provides the following information for their first year of operations in 2016: Sales, 5,000 units @ $10 each; Total production, 7,500 units; Selling and administrative costs: Fixed $1,000, Variable $1 per unit; Production costs per unit: Direct materials $2.00, Direct labor $2.00, Variable overhead $1.00, Fixed manufacturing overhead $7,500. Alpha Company uses absorption costing. Use this information to determine for Alpha Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units) A. Cost of Goods Sold B. Net Income C. Cost of Ending Inventory

Alpha Company provides the following information for their first year of operations in 2016: Sales, 5,000 units @ $10 each; Total production, 7,500 units; Selling and administrative costs: Fixed $1,000, Variable $1 per unit; Production costs per unit: Direct materials $2.00, Direct labor $2.00, Variable overhead $1.00, Fixed manufacturing overhead $7,500. Alpha Company uses absorption costing. Use this information to determine for Alpha Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units) A. Cost of Goods Sold B. Net Income C. Cost of Ending Inventory

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

please provide correct answer

Alpha Company provides the following information for their first year of operations in 2016: Sales, 5,000 units @ $10 each; Total production, 7,500 units; Selling and administrative costs: Fixed $1,000, Variable $1 per unit; Production costs per unit: Direct materials $2.00, Direct labor $2.00, Variable overhead $1.00, Fixed manufacturing overhead $7,500. Alpha Company uses absorption costing. Use this information to determine for Alpha Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units) A. Cost of Goods Sold B. Net Income C. Cost of Ending Inventory
Transcribed Image Text:Alpha Company provides the following information for their first year of operations in 2016: Sales, 5,000 units @ $10 each; Total production, 7,500 units; Selling and administrative costs: Fixed $1,000, Variable $1 per unit; Production costs per unit: Direct materials $2.00, Direct labor $2.00, Variable overhead $1.00, Fixed manufacturing overhead $7,500. Alpha Company uses absorption costing. Use this information to determine for Alpha Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units) A. Cost of Goods Sold B. Net Income C. Cost of Ending Inventory
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS