Chance, Inc. sold 3,900 units of its product at a price of $117 per unit. The total variable cost per unit is $87, consisting of $59 in variable production costs and $28 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.
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- Baxter Company has a relevant range of production between 15,000 and 30,000 units. The following cost data represents average variable costs per unit for 25,000 units of production. Using the costs data from Rose Company, answer the following questions: A. If 15,000 units are produced, what is the variable cost per unit? B. If 28,000 units are produced, what is the variable cost per unit? C. If 21,000 units are produced, what are the total variable costs? D. If 29,000 units are produced, what are the total variable costs? E. If 17,000 units are produced, what are the total manufacturing overhead costs incurred? F. If 23,000 units are produced, what are the total manufacturing overhead costs incurred? G. If 30,000 units are produced, what are the per unit manufacturing overhead costs incurred? H. If 15,000 units are produced, what are the per unit manufacturing overhead costs incurred?Compute the manufacturing margin for the company under variable costingGibson Manufacturing Company makes a product that sells for $74.60 per unit. Manufacturing costs for the product amount to $25.10 per unit variable, and $65,100 fixed. During the current accounting period, Gibson made 3,100 units of the product and sold 2,600 units. Selling and administrative expenses were zero. Required a. Prepare an absorption costing income statement. b. Prepare a variable costing income statement.
- Fixed manufacturing costs are $31 per unit, and variable manufacturing costs are $93 per unit. Production was 114,000 units, while sales were 108,300 units. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption costing operating income.Solomon Manufacturing Company makes a product that sells for $75.30 per unit. Manufacturing costs for the product amount to $26.90 per unit variable, and $66,000 fixed. During the current accounting period, Solomon made 3,300 units of the product and sold 2,500 units. Selling and administrative expenses were zero. Required a. Prepare an absorption costing Income statement. b. Prepare a variable costing Income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an absorption costing income statement. Note: Do not round intermediate calculations. SOLOMON MANUFACTURING COMPANY Absorption Costing Income StatementSierra Company produces its product at a total cost of $120 per unit. Of this amount, $40 per unit is selling and administrative costs. The total variable cost is $96 per unit, and the desired profit is $24.00 per unit. Determine the markup percentage using the (a) total cost, (b) product cost, and (c) variable cost methods. Round your answers to one decimal place. a. Total cost b. Product cost c. Variable cost % % %
- Chance Inc. sold 2,600 units of its product at a price of $114 per unit. Total variable cost per unit is $79, consisting of $46 invariable production cost and $33 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing. A. $119,600 B. $91,000 C. $176,800 D. ($114,400) E. $296,400Carter, Inc. sold 4,200 units of its product at a price of $79.50 per unit. The total variable cost per unit is $55, consisting of $32.80 in variable production cost and $22.20 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing. a. $160,440 b. $94,960 c. $196,140 d. $333,900 e. ($139,180)Solve this ?What is net income under absorption costing???
- Please need answer the general accountingJamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $800 per unit, of which $540 is product cost and $260 is selling and administrative expenses. In addition, the total cost of $800 is made up of $460 variable cost and $340 fixed cost. The desired profit is $88 per unit. Determine the markup percentage on total cost. %Solution