Given the following data. Beginning Inventory in Units - O 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.

Given the following data. Beginning Inventory in Units - O 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.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 31BEB: Inventory Valuation under Variable Costing Refer to the data for Pelham Company on the previous...

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1. In presenting inventory on balance sheet December 31, 2021, the unit cost under absorption costing is? 2. What is the net income for 2021 under variable costing?
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?
The VARCOST2 worksheet is capable of calculating variable and absorption income when unit sales are equal to or less than production. An equally common situation (that this worksheet cannot handle) is when beginning inventory is present and sales volume exceeds production volume. Revise the worksheet Data Section to include: Beginning inventory in units 15,000 Beginning inventory cost (absorption) $266,875 Beginning inventory cost (variable) $210,000, Also, change actual production to 70,000. Revise the Answer Section to accommodate this new data. Assume that Anderjak uses the weighted-average costing method for inventory. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Check figure: Absorption income, $670,000.
1. In presenting inventory on the balance sheet December 31, 2021, the unit cost under absorption costing is? 2. What is the net income for 2021 under variable costing?
Inventory Valuation under Variable Costing Refer to the data for Pelham Company on the previous page. Required: 1. How many units are in ending inventory? 2. Using variable costing, calculate the per-unit product cost. 3. What is the value of ending inventory under variable costing? Use the following information for Brief Exercises 3-30 and 3-31: During the most recent year, Pelham Company had the following data associated with the product it makes:
Inventory Valuation under Absorption Costing Refer to the data for Judson Company above. Required: 1. How many units are in ending inventory? 2. Using absorption costing, calculate the per-unit product cost. 3. What is the value of ending inventory under absorption costing? Use the following information for Brief Exercises 3-21 and 3-22: During the most recent year, Judson Company had the following data associated with the product it makes:
Inventory Valuation under Variable Costing Refer to the data for Judson Company above. Required: 1. How many units are in ending inventory? 2. Using variable costing, calculate the per-unit product cost. 3. What is the value of ending inventory under variable costing? Use the following information for Brief Exercises 3-21 and 3-22: During the most recent year, Judson Company had the following data associated with the product it makes:
Use the following date to answer the requirement of this item:Quantity (Product X) - 1,200.00Quantity (Product Y) - 1,800.00Purchase cost per unit (Product X) - 70.00Purchase cost per unit (Product Y) - 90.00Cash discount taken for both products – 10%Freight cost from supplier (Product X) 10.00Freight cost from supplier (Product Y) 30.00Estimated selling price (Product X) 120.00Estimated selling price (Product Y) 150.00Estimated selling costs (Product X) 22.00Estimated selling costs (Product Y) 35.00General and administrative (Product X) 15.00General and administrative (Product Y) 21.00Cost of goods sold per record – 385,800Inventory at year-end shall be carried at
QUESTION A. What is the net income for 2020 under the Variable Costing Method? B. What is the net income for 2020 under the Absorption Costing Method? C. What is the net income for 2021 under the Variable Costing Method? D. What is the net income for 2021 under the Absorption Costing Method?
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What would be NUBD’s finished inventory cost at December 31, 2021 under the variable costing method? A.P 90,000 B.P 104,000 C.P 105,000 D.P 135,000