Weat During 2030, Basler Manufacturing produced 60,000 units and sold 55,000 for $10per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturingoverhead was $120,000 ($2 per unit). Variable selling and administrative costs were$1 per unit sold, and fixed selling and administrative costs were $30,000.Prepare a variable costing income statement.Round answers to 2 decimal places, e.g. 12.25.When typing your responses, do NOT include a dollar sign. Foexample, if your answeris $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign.Variable Costing Income StatementBalser ManufacturingIncome Statement (Variable Costing).SalesVariable Cost of Goods SoldVariable Selling and AdministrativeExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesNet Income /(Loss)

As per the absorption costing method, the product cost includes fixed and variable manufacturing…

During 2030, Basler Manufacturing produced 60,000 units and sold 55,000 for $10 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $120,000 ($2 per unit). Variable selling and administrative costs were $1 per unit sold, and fixed selling and administrative costs were $30,000. Prepare a variable costing income statement. • Round answers to 2 decimal places, e.g. 12.25. FXexample, When typing your responses, do NOT include a dollar sign. Fokexample, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. Variable Costing Incom Shab .

During 2030, Basler Manufacturing produced 60,000 units and sold 55,000 for $10 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $120,000 ($2 per unit). Variable selling and administrative costs were $1 per unit sold, and fixed selling and administrative costs were $30,000. Prepare a variable costing income statement. • Round answers to 2 decimal places, e.g. 12.25. FXexample, When typing your responses, do NOT include a dollar sign. Fokexample, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. Variable Costing Incom Shab .

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

Sierra 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 % % %
Analyzing Income under Absorption and Variable Costing Variable manufacturing costs are $102 per unit, and fixed manufacturing costs are $55,000. Sales are estimated to be 4,000 units. If an amount is zero, enter "0". Round intermediate calculations to the nearest cent and your final answers to the nearest dollar. a. How much would absorption costing operating income differ between a plan to produce 4,000 units and a plan to produce 5,500 units? b. How much would variable costing operating income differ between the two production plans?
Gladstorm Enterprises sells a product for $53 per unit. The variable cost is $36 per unit, while fixed costs are $9,367. Determine the following: Round your answers to the nearest whole number.
Townhall Corp. has provided the following data for its utility cost: Prior Current Year Year 8,000 10,000 Machine hours Utility cost $26,600 $31,000 Utility cost is a mixed cost with variable and fixed components. The fixed and variable components of utility cost are closest to: (Round your intermediate calculations to 2 decimal places.) A
A company's costs are shown below. What is total average cost per unit? Total variable costs Total fixed costs 15,647 units $6,375 ? Variable cost per unit? Fixed cost per unit Total average cost per unit $2.40 ? Round your answer to two decimal places. Do not round any intermediate calculations.
Write a linear cost function equation for each of the following conditions. Use y for estimated costsand X for activity of the cost driver.a. Direct materials cost is $2.70 per pound b. Total cost is fixed at $800 per month regardless of the number of units produced. c. Auto rental has a fixed fee of $90.00 per day plus $1.75 per mile driven. d. Machine operating costs include $1,000 of maintenance per month, and $15.00 of coolant usagecosts for each day the machinery is in operation.
JPL, Incorporated has provided its sales and expense data for the most recent period. The Controller has asked you prepare a spreadsheet that shows the related CVP Analysis computations. Given the following information complete a CVP analysis for JPL, Incorporated: Unit sales Selling price per unit Variable expenses per unit Fixed expenses 11,200 units $ 75 per unit $45 per unit $ 210,000 Required: Use the data to answer the following. 1. Compute the CM ratio and variable expense ratio. 2. Compute the break-even sales. 3. Compute the margin of safety. 4. Compute the degree of operating leverage.
Management believes it can sell a new product for $9.00. The fixed costs of production are estimated to be $7,000, and the variable costs are $3.40 a unit. Complete the following table at the given levels of output and the relationships between quantity and fixed costs, quantity and variable costs, and quantity and total costs. Round your answers to the nearest dollar. Enter zero if necessary. Use a minus sign to enter losses, if any. Quantity Total Revenue Variable Costs Fixed Costs Total Costs Profits (Losses) 0 $ $ $ $ $ 500 $ $ $ $ $ 1,000 $ $ $ $ $ 1,500 $ $ $ $ $ 2,000 $ $ $ $ $ 2,500 $ $ $ $ $ 3,000 $ $ $ $ $ Determine the break-even level using the above table and use the Exhibit 19.5 to confirm the break-even level of output. Round your answers for the break-even level to the nearest whole number. Round your answers for the fixed costs, variable costs, total costs,…
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 Statement
Analyzing Income under Absorption and Variable Costing Variable manufacturing costs are $86 per unit, and fixed manufacturing costs are $193,200. Sales are estimated to be 6,900 units. If an amount is zero, enter "0". Round intermediate calculations to the nearest cent and your final answers to the nearest dollar. a. How much would absorption costing operating income differ between a plan to produce 6,900 units and a plan to produce 9,200 units? X b. How much would variable costing operating income differ between the two production plans? ✓
clarks Ltd uses the following cost function: Y = $7000 + $8.50X. If the number of units produced in a month is 200, what would be the total cost? a) $7,170 b) $7008.50 c) $8,700 d) $7,800
Analyzing Income under Absorption and Variable Costing Variable manufacturing costs are $86 per unit, and fixed manufacturing costs are $64,800. Sales are estimated to be 5,400 units. If an amount is zero, enter "0". Round intermediate calculations to the nearest cent and your final answers to the nearest dollar. a. How much would absorption costing operating income differ between a plan to produce 5,400 units and a plan to produce 7,200 units? X b. How much would variable costing operating income differ between the two production plans? $ X