rses/423/quizzes/20595/takeMapsQuestion 2• For the month of January, Vista Corporation produced and sold 12,000 units of a product.Manufacturing and selling costs incurred during January were:Direct material and direct labor4,800,000Variable factory overhead1,080,000Fixed factory overhead2,400,000Variable selling costs1,200,000How much is the product's unit cost under absorption costing ?O P 500P510O P 520Question 3During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as followMaterials P 6,000,000LeberMacBook Pro

Under absorption costing, total cost incurred on manufacturing of product will be part of product…

Answered: • For the month of January, Vista…

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

7
The JKL INC. produced 100,000 units of Product X during the month of September: Costs incurred during September were as follows: Direct materials used ₱100,000 Fixed manufacturing overhead ₱50,000 Direct labor employed 80,000 Variable selling and general expense 12,000 Variable manufacturing overhead 40,000 Fixed selling and general expense 45,000 Question: 1. What was Product X’s unit cost under absorption costing? 2. What was Product X’s unit cost under variable costing?
please answer fast thank you sm
gpu.9
< Prev A company uses the following standard costs to produce a single unit of output. Direct materials Direct Manufacturing pounds at $0.70 per pound- 0.4 hour at $8.00 per hour labor $ 5.60 $ 3.20 $ 1.96 overhead 53 0.4 hour at $4.90 per hour - During the latest month, the company purchased and used 77,000 pounds of direct materials ata price of $0.90 per pound to produce 10,000 units of output Direct le month totaled $29,100 based on 3,880 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15 600 and fixed manufacturing overhee $10,000. Based on this information, the direct materials price variace for the month was: Multiple Choice $2,000 favorable $15,400 unfavorable $5,600 unfavorable $6,400 unfavorable Ne $5,600 favorable 23 of 25
Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 5 pounds $ 11.00 per pound $ 55.00 Direct labor 2 hours $ 17.00 per hour $ 34.00 Variable manufacturing overhead 2 hours $ 3.80 per hour $ 7.60 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000. Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance?
1. What was Product J's unit cost under cost absorption costing? 2. What was Product J's unit cost under variable costing?
Sah
Larner Corporation is a diversified manufacturer of industrial goods. The company's activity-based costing system contains the following six activity cost pools and activity rates: Activity Rates Activity Cost Pool Labor-related Machine-related Machine setups Production orders Shipments General factory ME $ 5.00 per direct labor-hour $ 4.00 per machine-hour $ 60.00 per setup $ 100.00 per order $ 120.00 per shipment $ 4.00 per direct labor-hour Cost and activity data have been supplied for the following products: 378 852 Direct materials cost per unit Direct labor cost per unit $ 3.50 $ 20.00 $ 3.75 Number of units produced per year $9.00 400 2,000 Direct labor-hours Machine-hours Machine setups Production orders Chinmante Total Expected Activity 378 852 1,200 40 2,800 20 4 4 A 7 7 4
5

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS