Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for784. Selected data for the company's operations last year follow:Units in beginning inventoryUnits producedces✓Units soldUnits in ending inventoryVariable costs per unit:Direct materialsDirect laborfVariable manufacturing overheadVariable selling and administrativeFixed costs:Fixed manufacturing overheadFixed selling and administrativeMcGrawHill1. Absorption costing unit product cost2. Variable costing unit product cost?(@Required:1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediatecalculations and final answer to the nearest whole dollar amount.)2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.f22f3#M34$440%022,00020,0002,0005$ 180$ 370$63$ 17$ 680,000$ 850,000f6Q Search4-^6¹74+4&790°*Prev19 144SavedQ1 of 1hoto DillNextfnDDIf12C

Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…

Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are so 4. Selected data for the company's operations last year follow: nits in beginning inventory nits produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 0 22,000 20,000 2,000 1. Absorption costing unit product cost 2. Variable costing unit product cost $ 180 $ 370 $ 63 $17 $ 680,000 $ 850,000 4 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.

Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are so 4. Selected data for the company's operations last year follow: nits in beginning inventory nits produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 0 22,000 20,000 2,000 1. Absorption costing unit product cost 2. Variable costing unit product cost $ 180 $ 370 $ 63 $17 $ 680,000 $ 850,000 4 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $917. Selected data for the company's operations last year follow: 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 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 0 13,000 9,000 4,000 1. Absorption costing unit product cost 2. Variable costing unit product cost $ 210 $ 440 $ 58 $18 $ 770,000 $ 550,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.
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Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $845, Selected data for the company's operations last year follow: 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 Fixed costs : Fixed manufacturing overhead Fixed selling and administrative 19,000 16,000 3,000 $ 260 $ 340 $ 57 $ 22 $ 910,000 $ 930,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gahelan. 1. Absorption costing unit product cost 2. Variable costing unit product cost
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