Benguet Corp. has the following data pertaining to its only product: Direct Materials P 10.00 / unit P 8.00 / unit Direct Labor Variable Overhead P9.00/unit Fixed Overhead P 200,000/ year Variable Selling & Admin. P 5.00/ unit Fixed Selling & Admin. P 150,000/ year The company was able to produce 100,000 units and sell 0,000 units during its first year of operation.

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

Please help me answer requirement 3 and 4 with complete solutions please. Thank you

Additional information

Selling price P50.00

200,000 units 

1. Benguet Corp. has the following data pertaining to its
only product:
Direct Materials
P 10.00/ unit
P 8.00 / unit
Variable Overhead P 9.00/unit
Direct Labor
Fixed Overhead
P 200,000/ year
Variable Selling & Admin. P 5.00/ unit
Fixed Selling & Admin. P 150,000 /year
*The company was able to produce 100,000 Uunits and sell
90,000 units during its first year of operation.
1. Compute the product cost per unit using (a)
Throughput Costing; (b) Variable Costing; (c)
Absorption Costing
2. Compute the ending inventory values using (a)
Throughput Costing; (b) Variable Costing; (c)
Absorption Costing
3. Compute the net income using (a) Throughput
Costing; (b) Variable Costing; (c) Absorption
Costing
Reconcile the net income under vari
absorption costing.
4.
le and
Transcribed Image Text:1. Benguet Corp. has the following data pertaining to its only product: Direct Materials P 10.00/ unit P 8.00 / unit Variable Overhead P 9.00/unit Direct Labor Fixed Overhead P 200,000/ year Variable Selling & Admin. P 5.00/ unit Fixed Selling & Admin. P 150,000 /year *The company was able to produce 100,000 Uunits and sell 90,000 units during its first year of operation. 1. Compute the product cost per unit using (a) Throughput Costing; (b) Variable Costing; (c) Absorption Costing 2. Compute the ending inventory values using (a) Throughput Costing; (b) Variable Costing; (c) Absorption Costing 3. Compute the net income using (a) Throughput Costing; (b) Variable Costing; (c) Absorption Costing Reconcile the net income under vari absorption costing. 4. le and
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Theory of Constraints (TOC)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
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