00For 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 variable costing ?O P 510O P 490O P 520O P 500Question 2For the month of January, Vista Corporation produced and sold 12,000 units of a produManufacturing and selling costs incurred during January were:MacBook Pro%23244.69人 Question 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 P490O P 500O P510O P 520Question 3During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as folloMaterials P 6,000,000MacBook Pro

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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

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During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials P 6,000,000 Labor 3,300,000 Variable factory overhead 2,500,000 Fixed factory overhead 1,500,000 Total manufacturing costs 13,300,000 Selling and administrative costs incurred during the month were: Variable selling and administrative 3,000,000 Fixed selling and administrative 2,000,000 5,000,000 Selling price P200 per unit XYZ Corp. uses the JIT system. It does not keep inventories in stock. What amount should be considered product cost per unit under variable costing? Group of answer choices P 118 P 133 P 148 P 183
The standard costs and actual costs for factory overhead for the manufacture of 3,000 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) Variable overhead 3 hours per unit @ $0.78 per hour 3 hours per unit @ $2.00 per hour a. $0 b. $624 favorable O c. $780 unfavorable O d. $624 unfavorable Actual Costs Total variable cost, $18,000 Total fixed cost, $7,900 The amount of the fixed factory overhead volume variance is
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 51,000 units per month is as follows: Per Unit Direct materials $ 48.10 Direct labor $ 9.20 Variable manufacturing overhead $ 2.20 Fixed manufacturing overhead $ 19.50 Variable selling & administrative expense $ 4.00 Fixed selling & administrative expense $ 19.00 The normal selling price of the product is $108.10 per unit. An order has been received from an overseas customer for 3,100 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $2.30 less per unit on this order than on normal sales. Direct labor is a variable cost in this company. Suppose there is ample idle capacity to produce the units required by the overseas customer and the special discounted price on…
Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results: Sales (19,200 x $68) $1,305,600 Manufacturing costs (19,200 units): Direct materials 787,200 Direct labor 186,240 Variable factory overhead 86,400 Fixed factory overhead 103,680 Fixed selling and administrative expenses 28,200 Variable selling and administrative expenses 34,100 The company is evaluating a proposal to manufacture 21,600 units instead of 19,200 units, thus creating an ending inventory of 2,400 units. Manufacturing the additional units will not change sales, unit variable factory overhead costs, total fixed factory overhead cost, or total selling and administrative expenses. Question Content Area a. 1. Prepare an estimated income statement, comparing operating results if 19,200 and 21,600 units are manufactured in the absorption costing format. If an amount box does not require an entry leave it blank. Marshall…
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?
What is the unit product cost under variable costing?
The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $111,400 276,800 May 84,900 168,600 June 102,200 230,700 Using the high-low method, the variable cost per unit and the total fixed costs are
The following are ABC co's production cost for the month of October: Direct Materials P100,000 Direct Labor 90,000 Factory Overhead 4,000 1. The total manufacturing cost? 2. The prime cost? 3. The conversion cost? 4. The cost than can traced to specific product in production process?
vy, Inc., produces a single product that sells for $60 per unit. There were no inventories of work in process or finished goods. Costs for the year were as follows: Variable costs: Direct materials Direct labor Manufacturing overhead Selling expenses Fixed costs Manufacturing overhead Selling and administrative During the first three months of the year, production and sales in units were as follows: Production Sales January February March 4,000 4,000 4,000 b. $8 per unit $12 per unit $5 per unit $3 per unit $36,000 per month $15,000 per month 4,000 3,500 4,500 The company uses an actual cost system. There were no work-in-process inventories at the end of any month. Required: a. Determine the unit cost of production under variable costing and absorption costing for the Feb & March months. Determine income under variable and absorption costing for Feb & March months
The following data relates to Potawatomi Corporation's operations for the month. Potawatomi produced 8,500 units and the normal monthly capacity is 20,000 direct labor hours. Direct Material: Standard (5 lbs. @ $2.10/lb.) Actual (39,000 lbs. @ $2.20/lb.) Standard Unit Costs Total Actual Costs $10.50 $85,800 Direct Labor: Standard (2 hrs. @ $12/hr.) $24.00 Actual (18,000 hrs. @ $11.90/hr.) $214,200 Variable Overhead: Standard (2 hrs. @ $4.00/hr.) $8.00 Actual $69,700 Total $42.50 $369,700 Use fork diagrams to calculate the following variances: b. Materials efficiency variance a. Materials price variance C. Labor rate variance e. Variable overhead spending variance f. Variable overhead efficiency variance d. Labor efficiency variance
The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $112,700 275,900 May 91,900 163,500 June 108,700 247,900 Using the high-low method, the variable cost per unit and the total fixed costs are
A manufacturer reports the following costs to produce 17,000 units in its first year of operations: direct materials, $17 per unit, direct labor, $13 per unit, variable overhead, $153,000, and fixed overhead, $204,000. The total product cost per unit under variable costing is: Multiple Choice $30 per unit. $26 per unit. $39 per unit.

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