For Items 4-6 During January 202X, Ligawan Inc, produced 1,000 units of Product A with costs as follows: Materials Labor Variable Factory Overhead Fixed Manufacturing Overhead Total Manufacturing Costs 6,000 3,300 2,500 1,500 13,300 Selling and Administrative costs incurred during the month were: Variable Selling and Administrative Fixed Selling and Administrative Selling Price per Unit Ligawan uses the JIT system. It does not keep inventories in stock. 4. What amount should be considered as product cost for external reporting purposes? a. P13.30 b. P18.30 c. P11.80 •NOT COPY d. P14.80 5. What is the product cost per unit under variable costing? a. P13.30 b. P18.30 C. P11.80 d. P14.80 6. What is the variable cost per unit for purposes of computing the contribution margin? a. P13.30 b. P18.30 c. P11.80 d. P14.80
For Items 4-6 During January 202X, Ligawan Inc, produced 1,000 units of Product A with costs as follows: Materials Labor Variable Factory Overhead Fixed Manufacturing Overhead Total Manufacturing Costs 6,000 3,300 2,500 1,500 13,300 Selling and Administrative costs incurred during the month were: Variable Selling and Administrative Fixed Selling and Administrative Selling Price per Unit Ligawan uses the JIT system. It does not keep inventories in stock. 4. What amount should be considered as product cost for external reporting purposes? a. P13.30 b. P18.30 c. P11.80 •NOT COPY d. P14.80 5. What is the product cost per unit under variable costing? a. P13.30 b. P18.30 C. P11.80 d. P14.80 6. What is the variable cost per unit for purposes of computing the contribution margin? a. P13.30 b. P18.30 c. P11.80 d. P14.80
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For Items 4-6
During January 202X, Ligawan Inc, produced 1,000 units of Product A with costs as follows:
Materials
Labor
Variable Factory Overhead
Fixed Manufacturing Overhead
Total Manufacturing Costs
6,000
3,300
2,500
1,500
13,300
Selling and Administrative costs incurred during the month
were:
Variable Selling and Administrative
Fixed Selling and Administrative
Selling Price per Unit
Ligawan uses the JIT system. It does not keep inventories in stock.
4. What amount should be considered as product cost for external reporting purposes?
a. P13.30
b. P18.30
c. P11.80
•NOT COPY
d. P14.80
5. What is the product cost per unit under variable costing?
a.
P13.30
b. P18.30
C. P11.80
d. P14.80
6. What is the variable cost per unit for purposes of computing the contribution margin?
a. P13.30
b. P18.30
c. P11.80
d. P14.80
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