What is the answer? DIM Manufacturing provides the following data:. Variable production costs: $500,000Variable selling and administrative (S&A) costs: $60,000. Fixed S&A costs: $110,000Fixed production costs: $280,000. Unit sales price: $10. Units produced: 100,000. Units sold: 90,000Under full costing, what is the value of the ending.inventory?

Explanation of Full Costing:Full costing, also known as absorption costing, is a method where all…

Answered: DIM Manufacturing provides the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 1PB: When prices are falling (deflation), which costing method would produce the highest gross margin for...

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The following information pertains to Vladamir, Inc., for last year: There are no work-in-process inventories. Normal activity is 100,000 units. Expected and actual overhead costs are the same. Costs have not changed from one year to the next. Required: 1. How many units are in ending inventory? 2. Without preparing an income statement, indicate what the difference will be between variable-costing income and absorption-costing income. 3. Assume the selling price per unit is 29. Prepare an income statement using (a) variable costing and (b) absorption costing.
The carrying value of ending inventory under variable costing would be: present as is if higher or present it in comma if it is less ex: (200) Under absorption costing, the cost of goods sold would be:
Variable Costing, Absorption Costing During its first year of operations, Snobegon, Inc. (located in Lake Snobegon, Minnesota), produced 40,900 plastic snow scoops. Snow scoops are oversized shovel-type scoops that are used to push snow away. Unit sales were 38,900 scoops. Fixed overhead was applied at $0.75 per unit produced. Fixed overhead was underapplied by $2,900. This fixed overhead variance was closed to Cost of Goods Sold. There was no variable overhead variance. The results of the year's operations are as follows (on an absorption-costing basis): Sales (38,900 units @ $20) $778,000 Less: Cost of goods sold 547,260 Gross margin $230,740 Less: Selling and administrative expenses (all fixed) 184,500 Operating income $ 46,240 Required: 1. Calculate the cost of the firm's ending inventory under absorption costing. Round unit cost to five decimal places. Round your final answer to the nearest dollar. %24 What is the cost of the ending inventory under variable costing? Round unit…
Given the following data. Beginning Inventory in Units - O Units produced - 4,800 Units Sold - 4,000 Sales - $400,000 Material Cost (unit level/variable) - $96,000 Variable Conversion Cost Used - $48,000 Fixed Manufacturing Cost (Facility Level) - $72,000 Indirect Operating Cost (fixed) - $80,000 What is the ending inventory under variable costing? Show your complete solution.
The ending inventory under variable costing?
X Corp produces single product. Income under variable costing and absorption costing are 36,400 and 25,600, respectively. Product cost per unit under Variable costing and absorption costing are 18 and 20 per unit, respectively. Ending inventory is 2,600 units, what is the beginning inventory in units?A. 5,400B. 2,800C. 8,000D. 13,400
Given the following data
Required: 1. The carrying value of ending inventory under variable costing would be? 2. Under absorption costing, the cost of good sold would be?
Use the accompanying Profit_Analysis spreadsheet model to answer the following questions. Assumptions: Fixed cost: $ 5,000.00 Material costs per item: $ 2.25 Labor costs per item: $ 6.50 Shipping costs per 100 items: $ 200.00 Price per item: $ 12.99 Quantity: 2000 Outputs: Total revenues: $ 25,980.00 Total costs: $ 26,500.00 Total profits: $ -520.00 1. Use the data table tool to show the impact of quantity ranging from 1,500 to 5,000 with 500 unit increments on the total revenues, total costs, and total profits. What are the revenues, costs, and profits for 3,500 units? 2. Use the data table tool to show the impact of labor costs ranging from $5.00 to $8.00 with $0.50 increments and price per item ranging from $10.99 to $15.99 with $1.00 increments on the total profits. What is the total profit if the labor costs are $6.50, and the price is $14.99? Note: Round your answers to 2 decimal places. 3.…
Cost of Goods Sold As an accountant for Lee Company, your supervisor gave you the following calculations of the gross profit for the first quarter: Alternative Sales ($50 per unit) Cost of Goods Sold Gross Profit A $500,000 $200,000 $300,000 B 500,000 228,000 272,000 C 500,000 213,333 286,667 The three alternative cost flow assumptions are FIFO, average, and LIFO (the alternatives are not necessarily presented in this sequence). Lee uses the periodic inventory system. The computation of the cost of goods sold under each alternative is based on the following data: Units Cost/Unit Inventory, January 1 12,000 $20 Purchase, January 10 4,000 21 Purchase, February 15 6,000 22 Purchase, March 10 8,000 23 1. Prepare schedules proving the cost of goods sold shown here under each of the three alternatives. For average cost. LEE COMPANY Schedules of Cost of Goods Sold For First Quarter Ended March 31 FIFO LIFO Average Beginning…
i) the marginal revenue function for a company's product is MR = 40,000 - 4x ii) where x equals the number of units sold. if total revenue equal 0 when no units are sold, determine the total revenue function for the product. The function describing the marginal cost ( in dollars ) for producting a product is MC =8x +800 When x equals the number of units produced. it is known that cost equals $80,000 when 40 units are produced. determine the total cost function. iii) the function describing the marginal profit from producing and selling a product is MP = -6x + 450 when x equals the number of units and MP is the marginal profit measured in dollars. when 100 units are produced and sold, total profit equals $5000. determine the total profit function. iv) the functions describing the marginal profit from producing and selling a product is…
Assume that the linear cost and revenue models apply. An item costs $13 to make. If fixed costs are $1600 and profits are $5700 when 100 items are made and sold, find the revenue equation. (Let x be the number of items.)R(x) =

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