For XYZ Company, the following information related to costs is available for the last quarter: direct materials $1,000, directlabor $2,000, variable MOH $200, fixed MOH$1,800 and selling and administrative expenses $3,000. The product cost underabsorption costing is:Oa.$8,000O b. $3,200O c $5,000O d. $4,800O e.none of the given answers ionA Company uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor cost.The company based its predetermined overhead rate for the current year on total estimated manufacturing overhead cost of40% of direct labor cost. The job cost sheet of Job2121 shows that the number of units in this job order is 60 units whichincurred total of 90 labor-hours. This job consumed $20/unit of direct materials cost and $90/hour of direct labor. What wouldbe the total manufacturing cost for Job2121 approximately?ofOa.$11,340O b. $4,440Oc.None of the given answers.O d. $9,300O e. $12,540

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Description: For XYZ Company, the following information related to costs is available for the last quarter: direct materials $1,000, directlabor $2,000, variable MOH $200, fixed MOH$1,800 and selling and administrative expenses $3,000. The product cost underabso

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For XYZ Company, the following information related to costs is available for the last quarter: direct materials $1,000, direct labor $2,000, variable MOH $200, fixed MOH $1,800 and selling and administrative expenses $3,000. The product cost under absorption costing is: O a. $8,000 O b. $3,200 Oc. $5,000 O d. $4,800 Oe. none of the given answers

For XYZ Company, the following information related to costs is available for the last quarter: direct materials $1,000, direct labor $2,000, variable MOH $200, fixed MOH $1,800 and selling and administrative expenses $3,000. The product cost under absorption costing is: O a. $8,000 O b. $3,200 Oc. $5,000 O d. $4,800 Oe. none of the given answers

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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Zeta Inc. had net income of $918,000 based on variable costing. Beginning and ending inventories were 56,800 units and 55,600 units, respectively. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What is net income under absorption costing? A.$797,170 B.$912,840 C.$1,038,830 D.$915,420 E.$918,000
Assuming operating income under variable costing is P1,800, operating income under absorption costing is:
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For XYZ Company, the following information related to costs is available for the last quarter: direct materials $1,000, direct labor $3,000, variable MOH $200, fixed MOH $1,800 and selling and administrative expenses $3,000. The product cost under variable costing is: a. $5,800 O b. $4,200 C. $6,000 d. $9,000 е. none of the given answers