Given the following data. Beginning Inventory in Units - 0 Units produced - 4,800 Units Sold 4,000 Sales - $400,000 Material Cost (unit level/variable) - $96,000 Variable Conversion Cost Used - $48,000 Fixed Manufacturing Cost (Facility Level) - $72,000 Indirect Operating Cost (fixed) - $80,000 What is the ending inventory under variable costing? Show your complete solution.

General Accounting

Question:234 Given the following data. Beginning Inventory in Units - 0 Units produced - 4,800 Units Sold 4,000 Sales $400,000 Material Cost (unit level/variable) - $96,000 Variable Conversion Cost Used - $48,000 Fixed Manufacturing Cost (Facility Level) - $72,000 Indirect Operating Cost (fixed) - $80,000 What is the difference between the variable costing ending inventory cost and the absorption costing ending inventory cost? Show your complete solution.

Babe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125 Using FIFO method, the started in process units is? Using FIFO method, the unit cost is? Using Weighted Average method, the unit conversion cost is? The total EUP of completed and transferred unit is?

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Problem

Variable Costing, Absorption Costing During its first year of operations, Snobegon, Inc. (located in Lake Snobegon, Minnesota), produced 40,900 plastic snow scoops. Snow scoops are oversized shovel-type scoops that are used to push snow away. Unit sales were 38,900 scoops. Fixed overhead was applied at $0.75 per unit produced. Fixed overhead was underapplied by $2,900. This fixed overhead variance was closed to Cost of Goods Sold. There was no variable overhead variance. The results of the year's operations are as follows (on an absorption-costing basis): Sales (38,900 units @ $20) $778,000 Less: Cost of goods sold 547,260 Gross margin $230,740 Less: Selling and administrative expenses (all fixed) 184,500 Operating income $ 46,240 Required: 1. Calculate the cost of the firm's ending inventory under absorption costing. Round unit cost to five decimal places. Round your final answer to the nearest dollar. %24 What is the cost of the ending inventory under variable costing? Round unit…

1. Under the absorption costing method, NUBD’s operating income for 2021 would be 2. What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method?

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Compute the following: The amount of ending inventory reported under absorption costing method If the number of units is equal to its production of 1,200 units, the amount of ending inventory reported under absorption costing method If 1,350 units were sold instead, what would be the operating income under variable costing method?