Appliance Apps nas the following costs associated with production and sale of devices that allow appliances to receive commands from cell phones. Beginning inventory Units produced Units sold 25,000 20,000 145 Selling price per unit Variable sales and administration expenses Fixed sales and administration expenses Direct material cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 5 $975,000 25 $ 11 $ 3 $980,000 Prepare an income statement under both the absorption and variable costing methods along with a reconciliation between the two statements

Appliance Apps nas the following costs associated with production and sale of devices that allow appliances to receive commands from cell phones. Beginning inventory Units produced Units sold 25,000 20,000 145 Selling price per unit Variable sales and administration expenses Fixed sales and administration expenses Direct material cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 5 $975,000 25 $ 11 $ 3 $980,000 Prepare an income statement under both the absorption and variable costing methods along with a reconciliation between the two statements

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....

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eBook Show Me How Print Item Product Cost Concept of Product Costing Voice Com Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 5,090 cellular phones are as follows: Variable costs: Fixed costs: Direct materials $86 per unit Factory overhead $201,400 Direct labor 38 Selling and administrative expenses 68,900 Factory overhead 23 Selling and administrative expenses 22 Total $169 per unit Voice Com wants a profit equal to a 16% rate of return on invested assets of $599,700. a. Determine the amount of desired profit from the production and sale of 5,090 cellular phones.$fill in the blank 1 b. Determine the product cost and the cost amount per unit for the production of 5,090 cellular phones. If required, round your answer to nearest dollar.$fill in the blank 2 per unit c. Determine the product cost markup percentage (rounded to two decimal…
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Compute the average cost per unit of product R14 using ABC system.
Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs $ 4,580 2 480 3,880 4,280 4,880 3,980 4,180 3 880 1,280 1,680 2,080 2,480 2,880 3,280 3,680 4 8,680 16,080 4,880 8 9 10 11,020 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = per unit
For a merchandising company, a product cost includes: a. Cost of merchandise goods purchased b. All of the given costs here. С. Cost of raw materials. O d. Cost of finished goods. O e. Cost of work-in-process. hp f6 10 fg fg f10 f12 prt sc de f7 & back 6 8 V Y K V P
A company has three types of products: gadgets, widgets, and gizmos. The cost and market price of each type is listed below. Complete the table by applying the lower of cost and net realizable value (LCNRV). Do not enter dollar signs or commas in the input boxes. Description Category Cost NRV Individual LCNRV Applied to Category Total Gadget Type 1 Gadgets $1,170 $1,000 $ Gadget Type 2 Gadgets $5,700 $5,600 $ Total Gadgets Widget A Widgets $140 $150 $ Widget B Widgets $130 $190 $ Total Widgets $ tA Gizmo 1 Gizmos $2,280 $2,450 $ Gizmo 2 Gizmos $2,280 $1,630 $ Total Gizmos Total $ A $ EA SA SA EA A
My Home CengageNOWv2 | Online teachin X /takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Carter Co. sells two products: Arks and Bins. Last year, Carter sold 14,000 units of Arks and 56,000 units of Bins. Related data are as follows: Unit Selling Unit Variable Unit Contribution Product Price Cost Margin Arks $120 $80 $40 Bins 80 60 20 Carter Co.'s unit contribution margin of E was Oa. $20 Ob. $24 Oc. $92 Od. $60
Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $84,000 $9,550 $140,000 14,000 shelves 168,000 17,600 140,000 28,000 shelves 336,000 33,700 140,000 35,000 shelves 420,000 41,750 140,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion…
Computing product costs in an ABC system The Alexander Manufacturing Company in Rochester, Minnesota, assembles and tests electronic components used in smartphones. Consider the following data regarding component T24 (amounts are per unit): Requirements Complete the missing items for the two tables. Why might managers favor this ABC system instead of Alexander-’s older system, which allocated all manufacturing overhead costs on the basis of direct labor hours?
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