goods inventory.3.13The following information pertains to the first year of operation of A Corp:Units soldUnits producedFixed manufacturing overheadVariable manufacturing overheadFixed selling and administrative expensesVariable selling and administrative expensesDirect materials used2,0002.200P4,00012,00018,00010.000Direct laborInventory, beginning unitsInventory flow is on a FIFO basis30,00024,000100 unitsInstructions:1. Determine the ending finished goods inventory under absorption costing method.2 Determine the ending finished goods inventory under the variable costing method.3.14On the basis of the following information, calculate the net profit for the period and thevalue of finished goods on hand at the end of the period using: Absorption and variable costingmethods:SalesP256,000Cost of goods manufactured:Variable costs96,00064,00080,000Fixed costsFixed selling and administrative expenseFinished goods, beginningnone10,0002,000Actual production in unitsFinished goods, ending in unitsBeginning and ending work in processnone3.15An organization has the following data:Variable manufacturing costs (DM is P2.50)Fixed manufacturing overhead (planned and actual)Variable selling and administrative costsFixed selling and administrative costsP6.00 per unitP1,200PO.50 per unitP1,0001,000 units1,200 units250 unitsP10Units SoldUnits producedBeginning inventorySelling price per unit 74Chapter 3 Product CostingCompute for the following:1. Operating income under variable (direct) costing method2. Operating income under absorption costing method3. Operating income under throughput costing method4. The amount of ending inventory reported under absorption costing method5. If the number of units sold is equal to its production of 1,200 units, the amount of endinginventory reported under absorption costing method6. If 1,350 units were sold instead, what would be the operating income under variablecosting method?

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gOods inventory. 3.13 The following information pertains to the first year of operation of A Corp Units sold Units produced Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses Direct materials used Direct labor Inventory, beginning units Inventory flow is on a FIFO basis 2,000 2,200 P4.000 12,000 18,000 10,000 30,000 24,000 100 units Instructions: 1. Determine the ending finished goods inventory under absorption costing method. 2 Determine the ending finished goods inventory under the variable costing method.

gOods inventory. 3.13 The following information pertains to the first year of operation of A Corp Units sold Units produced Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses Direct materials used Direct labor Inventory, beginning units Inventory flow is on a FIFO basis 2,000 2,200 P4.000 12,000 18,000 10,000 30,000 24,000 100 units Instructions: 1. Determine the ending finished goods inventory under absorption costing method. 2 Determine the ending finished goods inventory under the variable costing method.

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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