Ash Company had 1,500 units of product A on hand at January 1, costing P21 each. Purchases of product A during the month of January were: Units Unit Cost January 10 200,000 22 January 18 250,000 23 January 28 100,000 24
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- The trailer company exspects to sell 9000 for $155 each for a total of $1,395,000 in January and 4500 units for $225 each for a total of $1,012,500 in February. The company exspects the cost of goods sold to average 70% of sales revenue, and the company exspects to sell 4700 units in march for $290 each. Trailer's target ending inventory is $9000 plus 50% of next months cost of goods sold. Prepare Trailer's inventory, purchases, and cost of goods sold budget for January and February. Trailer Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 January february cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchasesWalsh 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 costingBernard Company shows the following manufacturing costs for the first six months of the year: Production in Units Total Costs January 1,350 $35,636 February 1,200 $3,000 March 1,520 $37,436 April 2,150 $45,636 Мay 2,590 $47,780 June 2,600 $47,900 Using the high-low method, the total fixed costs are $47,900 В. $27,664 C. $20,236 D. $14,900
- Required Information During June, Danby Company's material purchases amounted to 6,600 pounds at a price of $7.90 per pound. Actual costs incurred in the production of 2,300 units were as follows: Direct labor: Direct material: $ 131,835 ($18.70 per hour) $ 37,920 ($7.90 per pound) The standards for one unit of Danby Company's product are as follows: Direct Labor: Quantity, 3 hours per unit Rate, $18.60 per hour Required: Fill in the amounts in the tables below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Fill in the amounts in the tables below. Note: Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).). Round "Actual Price" and "Standard Price" to 2 decimal places. Actual Material Cost Actual Quantity pounds used x X Actual Price Direct Material: Quantity, 2 pounds per unit Price, $7.60 per pound per pound Direct-material price variance…Zachary Corporation paid one of its sales representatives $8,500 during the month of March. The rep is paid a base salary plus $11 per unit of product sold. During March, the rep sold 170 units. Required Calculate the total monthly cost of the sales representative's salary for each of the following months. Month Number of units sold i Total variable cost Total fixed cost Total salary cost $ April 210 0 $ May 120 0 $ June 220 0 $ July 130 0The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period. Month Total Production Costs Level of Activity (Units Produced) July $ 230,000 3,500 August 250,000 3,750 September 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 May 350,000 5,600 June 290,000 5,000 Required: Determine the variable cost per unit and the fixed cost using the high-low method. What is the equation of the total mixed cost function? Prepare the scatter diagram, clearly showing any outliers Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units. In view of the department’s cost behaviour pattern, which of the two methods appear more appropriate?…
- The manufacturing costs of Mocha Industries for three months of the year are as follows: Month Total Cost Production April $79,092 1,440 units May 80,136 2,020 units June 81,756 2,920 units a. Using the high-low method, determine the variable cost per unit. Round your answer to two decimal places.fill in the blank 1 of 1$ per unit b. Using the high-low method, determine the total fixed costs.Fanning Corporation paid one of its sales representatives $4,000 during the month of March. The rep is paid a base salary plus $11 per unit of product sold. During March, the rep sold 150 units. Required Calculate the total monthly cost of the sales representative's salary for each of the following months. Month April May June July Number of units sold Total variable cost Total fixed cost Total salary cost 190 100 200 110 24 $The table below shows monthly data collected on production costs and on the number ofunits produced over a twelve month period Month Total Production Cost Level of Activity(Units Produced) July $230,000 3,500 August 250,000 3,750 September 260,000 3,800 October 220,000 3,400 November 340,000 5,800 December 330,000 5,500 January 200,000 2,900 February 210,000 3,300 March 240,000 3,600 April 380,000 5,900 May 350,000 5,600 June 290,000 5,000 Varible cost per unit = $60.00 The total mixed cost equationThe total mixed cost equation = y=a+bx y = $26,000 + $60xTo solve the equation, total no. of units can be added at 'x' place. Scatter diagram attached. Showing Outliers a) Using the line of best-fit, determine the company’s fixed costper month and thevariable cost per unit. (Use 0 & 5,000 units.)b) In view of the department’s cost behaviour pattern, which of the two methodsappear more appropriate? Explain your answer
- O During June, Fraser Company's material purchases amounted to 5,100 pounds at a price of $8.25 per pound. Actual costs incurred in the production of 1,000 units were as follows: Direct labor: Direct material: $ 90,396 ($18.6 per hour) $ 24,420 ($8.25 per pound) The standards for one unit of Fraser Company's product are as follows: Direct labor: Quantity, 2.9 hours per unit Rate, $18.4 per hour Direct material: Quantity, 1.5 pounds per unit Price, $7.75 per pound Required: Compute the following variances for the month of June. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance).) 1. Direct-material price variance 2 Direct-material quantity variance 3. Direct-material purchase price variance 4. Direct-labor rate variance 5. Direct-labor efficiency varianceFinch Corporation paid one of its sales representatives $6,500 during the month of March. The rep is paid a base salary plus $11 per unit of product sold. During March, the rep sold 120 units. Required Calculate the total monthly cost of the sales representative's salary for each of the following months: Month Number of units Total variable cost Total fixed cost Total salary cost $ April 160 0 $ LA May 70 0 $ June 170 0 $ July 80 0Flint Enterprises had the following sales, cost, and production information for April: Units produced 20,000 Units sold ? Unit sales price $ 190 Manufacturing Cost per Unit Direct materials $ 30 Direct labor 15 Variable manufacturing overhead 11 Fixed manufacturing overhead ($400,000/20,000) 20 Full manufacturing cost per unit $ 76 Nonmanufacturing Costs Variable selling expenses $ 72,000 Fixed general and administrative expenses 90,000 Assuming inventory increased by 5,000 units during April, what is Flint Enterprise's net operating income under full absorption costing?