Gabuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations:         Selling price $ 106       Units in beginning inventory   0 Units produced   2,600 Units sold   2,200 Units in ending inventory   400        Variable costs per unit:     Direct materials $ 46 Direct labor $ 28 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 7 Fixed costs:     Fixed manufacturing overhead $ 33,800 Fixed selling and administrative expense $ 8,800  What is the total period cost for the month under the absorption costing?     $58,000     $33,800     $24,200     $8,800

Q: Aaron Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost is the cost incurred on the production or making of a product. It is the cost that…

Q: Pacheo Corporation, which has only one product, has provided the following data concerning its most…

A: Under absorption costing, manufacturing costs are considered product costs and included in…

Q: What is the net operating income for the month under absorption costing?

A: Its a Traditional costing method ,where all costs associated with the production is captured to…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Variable costing method only consider variable productive expenses so,In variable costing fixed cost…

Q: Ing Corporation, which has only one product, has provided the following data concerning its most…

A: Unit product cost (variable costing) = Direct materials + Direct labor + Variable manufacturing…

Q: Hessell Corporation, which has only one product, has provided the following data concerning its most…

A: Under absorption costing, fixed manufacturing overhead is treated as product cost. Under variable…

Q: Aaron Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost is the amount of cost incurred by the entity on the making of the goods. It includes…

Q: Aaker Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost includes all the variable manufacturing expenses such as direct expenses, direct labor,…

Q: What is the net operating income for the month under variable costing?

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Period cost under absorption costing  = Fixed selling and administrative expense + Variable selling…

Q: What is the net operating income for the month under absorption costing?

A: Under Absorption costing, product cost is the total of Direct Material + Direct Labour +…

Q: Nelter Corporation, which has only one product, has provided the following data concerning its most…

A: Variable Costing: In management accounting, the notion of variable costs is known as variable…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Under the variable costing, fixed manufacturing overhead cost is considered as a period cost.…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Under variable costing, fixed manufacturing overhead, variable selling and administrative expense…

Q: Gabuat Corporation, which has only one product, has provided the following data concerning its most…

A: Variable costing is a method of costing under which all variable costs are part of product costs.

Q: Farris Corporation, which has only one product, has provided the following data concerning its most…

A: Formulas used here :-  a) Fixed manufacturing overhead cost per unit equals= Fixed manufacturing…

Q: Baughn Corporation, which has only one product, has provided the following data concerning its most…

A: Variable costing only includes theproduct costs that vary with output. It doesnt include the fixed…

Q: Nelter Corporation, which has only one product, has provided the following data concerning its most…

A: Variable Costing - In this costing method, variable costs are considered while preparing the cost of…

Q: The total contribution margin for the month under variable costing is:

A: Given information is: Hadley Corporation, which has only one product, has provided the following…

Q: Maher Corporation, which has only one product, has provided the following data concerning its most…

A: The following data is related to Maher Corporation for the month as per the given information.

Q: Winter Corporation, which only has one product, has provided the following data concerning its most…

A: As per the absorption costing method, the product cost includes fixed and variable manufacturing…

Q: Farris Corporation, which has only one product, has provided the following data concerning its most…

A: Unit product cost for the month = Direct materials + Direct labor + Variable manufacturing overhead

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Variable costing is a cost accounting and management concept that deducts fixed manufacturing…

Q: Elison Corporation, which has only one product, has provided the following data concerning its most…

A: Lets understand the basics. Net operating income can be calculated by using either of the below…

Q: Mahugh Corporation, which has only one product, has provided the following data concerning its most…

A: Variable Costing is a method of cost allocation in which only variable direct costs are assigned as…

Q: Farris Corporation, which has only one product, has provided the following data concerning its most…

A: Marginal costing method: It is also called the Variable costing method. In this method, all the…

Q: Aaron Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost means the cost of producing one unit of finished goods. Period cost means the cost that…

Q: Davison Corporation, which has only one product, has provided the following data concerning its most…

A: Variable costing includes the cost which vary from output to ouput. It does not include the fixed…

Q: Keyser Corporation, which has only one product, has provided the following data concerning its most…

A: Direct Material cost per unit$24.00Direct Labor cost per unit$41.00Variable Manufacturing Overhead…

Q: Hadley Corporation, which has only one product, has provided the following data concerning its most…

A: Answer - Period Cost Under Variable Costing = Fixed Manufacturing Overheads + All Non-Manufacturing…

Q: A manufacturing company that produces a single product has provided the following data concerning i…

A: Operating income is the excess of revenue over the product costs and period costs. Product cost…

Q: Davison Corporation, which has only one product, has provided the following data concerning its most…

A: A period cost is a cost which cannot be capitalized into prepaid expenses, inventory, or fixed…

Q: Hadley Corporation, which has only one product, has provided the following data concerning its most…

A: Period cost can be defined as any expenses that are not directly associated to product manufacturing…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.