Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations:Number of units producedVariable costs per unit:9,700Direct materials$121Direct labor2$105Variable manufacturing overheadVariable selling and administrative expense$$13Fixed costs:Fixed manufacturing overhead$349, 200Fixed selling and administrative expense$727,500There were no beginning or ending inventories. The absorption costing unit product cost was:Multiple Cholce$226 per unltO $268 per unit$232 per unit$356 per unlt

Name: Beamish Inc., which produces a single product, has provided the follo
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations:Number of units producedVariable costs per unit:9,700Direct materials$121Direct labor2$105Variable manufacturing overheadVariable

Under absorption costing, product cost includes variable as well as fixed manufacturing overhead…

Business

Accounting

Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: 9,700 Direct materials $ 121 Direct labor 2$ 105 Variable manufacturing overhead Variable selling and administrative expense $ 2$ 13 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $349, 200 $727,500 There were no beginning or ending inventories. The absorption costing unit product cost was: Multiple Cholce O $226 per unit $268 per unit O $232 per unit $356 per unit

Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: 9,700 Direct materials $ 121 Direct labor 2$ 105 Variable manufacturing overhead Variable selling and administrative expense $ 2$ 13 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $349, 200 $727,500 There were no beginning or ending inventories. The absorption costing unit product cost was: Multiple Cholce O $226 per unit $268 per unit O $232 per unit $356 per unit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead $ 147 0 6,900 6,600 300 Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $ 24 $ 54 $ 18 $ 18 $ 186,300 $ 27,600 Multiple Choice $114 per unit $141 per unit $123 per unit
Domestic
Beamish Incorporated, which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense Multiple Choice There were no beginning or ending inventories. The absorption costing unit product cost was: $101 per unit $139 per unit $106 per unit 10,900 $ 51 $ 50 $223 per unit $5 $9 $359,700 $817,500
Hi-Tek Manufacturing, Inc., makes two types of industrial component parts-the B300 and the T500. An absorption costing income statement for the most recent period is shown: Hi-Tek Manufacturing Inc. Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating loss Direct materials Direct labor $1,778,500 1,254,584 Hi-Tek produced and sold 60,500 units of B300 at a price of $21 per unit and 12,700 units of T500 at a price of $40 per unit. The company's traditional cost system allocates manufacturing overhead to products using a plantwide overhead rate and direct labor dollars as the allocation base. Additional information relating to the company's two product lines is shown below: Manufacturing overhead Cost of goods sold 523,916 610,000 $ (86,084) 8300 T500 $ 400,700 $ 162,300 $ $ 120,100 $ 42,600 Total 563,000 162,700 528,884 $1,254,584 The company has created an activity-based costing system to evaluate the profitability of its products.…
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead. Variable selling and administrative expense Multiple Choice Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $110 per unit $137 per unit $143 0 $120 per unit 6,850 6,550 300 $93 per unit $23 $53 $17 $17 $184,950 $ 27,300
Consider the following information for Presidio Incorporated's most recent year of operations. Number of units produced Number of units sold Sales price per unit Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($282,960 2,400 units) Total variable selling expenses ($14 per unit sold) Total fixed general and administrative expenses Complete this question by entering your answers in the tabs below. Required: 2-a. Complete a full absorption costing income statement for Presidio. Assume there was no beginning inventory. 2-b. Complete a contribution margin income statement for Presidio. Assume there was no beginning inventory. 3. Compute the difference in profit between full absorption costing and variable costing. Req 2A Reg 2B 2,400 1,500 $ 630.00 65.00 95.00 45.00 117.90 Req 3 Gross Margin Less: Non-Manufacturing Expenses 21,000.00 74,000.00 Complete a full absorption costing income statement for Presidio.…
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units produced Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1,000 $50 $47 $2 $8 $31,000 $69,000 There was no beginning or ending inventories. What is the unit product cost under variable costing?
Beamish Incorporated, which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 7,600 Variable costs per unit: Direct materials $ 109 Direct labor $ 88 Variable manufacturing overhead $ 5 Variable selling and administrative expense $ 10 Fixed costs: Fixed manufacturing overhead $266,000 Fixed selling and administrative expense $570,000 There were no beginning or ending inventories. The absorption costing unit product cost was:
The following information was collected for the first year of manufacturing for Appliance Apps: Direct Materials per Unit $2.50 Direct Labor per Unit $1.50 Variable Manufacturing Overhead per Unit $0.25 Variable Selling and Administration Expenses $1.75 Units Produced 39,000 Units Sold 35,000 Sales Price $12 Fixed Manufacturing Expenses $117,000 Fixed Selling and Administration Expenses $20,000 Question Content Area Prepare an income statement under variable costing method. Appliance AppsIncome Statement $- Select - - Select - $- Select - - Select - $- Select - - Select - - Select - $- Select - Question Content Area Prepare a reconciliation to the income under the absorption method. Appliance AppsReconciliation $- Select - - Select - $- Select -
Please do not give image format
The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($224,000/2,800 units) Total variable selling expenses ($11 per unit sold) Total fixed general and administrative expenses Complete this question by entering your answers in the tabs below. Full Absorption Costing LA LA LA LA LA Variable Costing $ $ $ Required: Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year. 2,800 2,400 340 60 45 13 80 $ 26,400 $ 60,000