Data tableBeginning inventory, January 1, 2020Ending inventory, December 31, 20202020 salesSelling price (to distributor)Variable manufacturing cost per unit, including direct materialsVariable operating (marketing) cost per unit soldFixed manufacturing costsDenominator-level machine-hoursStandard production rateFixed operating (marketing) costs86,000 units35,000 units345,000 units$22.50 per unit$5.70 per unit4$1.60 per unit sold$1,372,5006,10050 units per machine-hour$1,090,000X Data tableBeginning inventory, January 1, 2020Ending inventory, December 31, 20202020 salesSelling price (to distributor)Variable manufacturing cost per unit, including direct materialsVariable operating (marketing) cost per unit soldFixed manufacturing costsDenominator-level machine-hoursStandard production rateFixed operating (marketing) costs86,000 units35,000 units345,000 units$22.50 per unit$5.70 per unit4$1.60 per unit sold$1,372,5006,10050 units per machine-hour$1,090,000X

Income Statement is the financial statement that records all the income and expenses of the…

Beginning inventory, January 1, 2020 Ending inventory, December 31, 2020 2020 sales Selling price (to distributor) Variable manufacturing cost per unit, including direct materials Variable operating (marketing) cost per unit sold Fixed manufacturing costs Denominator-level machine-hours Standard production rate. Fixed operating (marketing) costs 86,000 units 35,000 units 345,000 units $22.50 per unit $5.70 per unit $1.60 per unit sold $1,372,500 6,100 50 units per machine-hour $1,090,000

Beginning inventory, January 1, 2020 Ending inventory, December 31, 2020 2020 sales Selling price (to distributor) Variable manufacturing cost per unit, including direct materials Variable operating (marketing) cost per unit sold Fixed manufacturing costs Denominator-level machine-hours Standard production rate. Fixed operating (marketing) costs 86,000 units 35,000 units 345,000 units $22.50 per unit $5.70 per unit $1.60 per unit sold $1,372,500 6,100 50 units per machine-hour $1,090,000

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

QUESTION 1 Valencia Manufacturing Company manufactures and sells musical gadgets. The business earm Operating Income of $220,000 in 2018, when selling price per unit was $200, and the president of Valer is under pressure to increase operating income in 2019. Data for variable cost per unit and total fixed cc were as follows: Variable expenses per unit: Direct Material $40 $32 $18 90 Direct Labour Variable Manufacturing Overhead Fixed expenses: Fixed Manufacturing Overhead Fixed Selling Costs Fixed Administrative Costs $190,000 $115,000 $135,000 Required: (a) Using the equation method, calculate the number of units sold in 2018. Given the sales units calculated in Part (a), prepare a contribution margin income statement f year ended December 31, 2018, detailing the composition of total fixed costs and clearly sho contribution and net income. (b) (e) Calculate Valencia's break-even point in units and in sales dollars. (d) Calculate the margin of safety in units and in sales dollars.
Give true answer
Selling price per unit: $15 Variable cost per unit: $10 Fixed MOH for each year: $800 Year 1 Year 2 Production 250 200 Sold 210 240 Ending Inventory 40 0 Using variable costing, Net Operating Income for Year 2 is: Select one: a. $378 b. $250 c. $400 d. $272 e. $650
SELLING PRICE PER UNIT 200 OPERATING INCOME 42,000 IN 2018 Variable expenses per unit: Direct Material $20Direct Labour $50Variable Manufacturing Overhead $10Fixed expenses: Fixed Manufacturing Overhead $125,000Fixed Selling Costs $75,000Fixed Administrative Costs $100,000 CALCULATE THE NUMBER OF UNITS SOLD IN 2018 USING THE EQUATION METHOD.
Break-even sales and sales to realize operating income For the current year ended March 31, Cosgrove Company expects fixed costs of $723,200, a unit variable cost of $65, and a unit selling price of $97. a. Compute the anticipated break-even sales (units). units b. Compute the sales (units) required to realize operating income of $166,400. units
Q.4 Standard cost systems provide companies with a number of advantages, argue the statement. Following are the details of Abbass Industries for the period ended June 30, 2020. Company establish standard on its normal capacity of 120,000 units/hours in a year: Direct Material 600,000 kgs at Rs. 9 per kg Direct Labor 4 hours per unit at Rs. 6 per hour Factory overhead: Fixed cost Rs. 240,000 per year or Rs. 20,000 per month. Variable Cost Rs. 4.50 per hour. During the one month of operation, company produced 11,000 units. Direct material used: 60,500 kgs at Rs. 9.10 per kg Direct labor used:…
answer in text form please (without image), Note: .Every entry should have narration please
5
The Atlantic Company sells a product with a break-even point of 6,142 sales units. The variable cost is $88 per unit, and fixed costs are $208,828. Determine the following: $4 a. Unit sales price units b. Break-even point in sales units if the company desires a target profit of $57,664 Previous Next arch a 9:41 PM 2 53°F Cloudy 12/6/2021 prt sc delete backspace 01
Break-even sales and sales to realize operating income For the current year ended March 31, Kadel Company expects fixed costs of $550,000, a unit variable cost of $50, and a unit selling price of $75. a. Compute the anticipated break-even sales (units). units b. Compute the sales (units) required to realize operating income of $127,500. units 220000
godo
Break-even sales and sales to realize operating income For the current year ended March 31, Kadel Company expects fixed costs of $597,600, a unit variable cost of $48, and a unit selling price of $72. a. Compute the anticipated break-even sales (units).fill in the blank 1 of 1 units b. Compute the sales (units) required to realize operating income of $136,800.fill in the blank 1 of 1 units