Fourth Question: The following information from PETRA-2 factory in 2020: 3200 1800 2400 1400 400 450 15500 0 800 Direct Materials Variable manufacturing cost Direct Labor Fixed manufacturing cost Variable marketing cost Fixed marketing cost Sales@ $20per unit Beg. Inventory in units Production in units Compute: 1. manufacturing costs under absorption, variable, and throughput costing systems per unit. 2. period costs under absorption, variable, and throughput costing systems per unit. 3. Prepare income statement under absorption and variable costing system.

Fourth Question: The following information from PETRA-2 factory in 2020: 3200 1800 2400 1400 400 450 15500 0 800 Direct Materials Variable manufacturing cost Direct Labor Fixed manufacturing cost Variable marketing cost Fixed marketing cost Sales@ $20per unit Beg. Inventory in units Production in units Compute: 1. manufacturing costs under absorption, variable, and throughput costing systems per unit. 2. period costs under absorption, variable, and throughput costing systems per unit. 3. Prepare income statement under absorption and variable costing system.

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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Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

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Step 2: Determining Manufacturing cost under Absorption, Variable and Throughput costing

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Step 3: Determining Period Cost under Absorption, Variable and Throughput costing

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Step 4: Preparing income statement under absorption costing and variable costing

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AI - E H E AutoSave Normal Document1 - Word Search badiya aldujaili ff BА EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut Calibri (Body) 11 - A A Aav A E E AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB AAB6CCC AaBbCcDa O Find - A Copy Paste S Replace В IUvab х, х* А I Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em.. A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 1. 2 4 7 Use the following information to answer the next 3 questions Kite Corp. manufactures custom cabinets and uses a job-order costing system. The company had two jobs in process at the beginning of October: Job No. 64 with a total beginning cost of $56,700 and Job No. 65 with a total beginning cost of $83,300. The company applies manufacturing overhead on the basis of machine hours. Budgeted overhead and machine activity for the year were anticipated to be $3,021,000 and 57,000 machine hours. The company worked on four…
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