HairNeat Inc. manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2016 and 2017 was 3,000 units. There was no beginning inventory in 2016. The following data summarized the 2016 and 2017 operations : Units sold Units produced 2016 2017 2,500 3,200 3,000 3,000 Costs: Variable factory overhead per unit $ 0.65 $ 0.65 Fixed factory overhead $ 1,290 $1,290 Variable marketing per unit $ 0.80 $ 0.80 Fixed Selling and Administrative $ 650 $ 650 What is the value of closing inventory in 2017 under variable costing 1) $325 2) $540 3) $195 4) $1,625

HairNeat Inc. manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2016 and 2017 was 3,000 units. There was no beginning inventory in 2016. The following data summarized the 2016 and 2017 operations : Units sold Units produced 2016 2017 2,500 3,200 3,000 3,000 Costs: Variable factory overhead per unit $ 0.65 $ 0.65 Fixed factory overhead $ 1,290 $1,290 Variable marketing per unit $ 0.80 $ 0.80 Fixed Selling and Administrative $ 650 $ 650 What is the value of closing inventory in 2017 under variable costing 1) $325 2) $540 3) $195 4) $1,625

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31, 2016, from the following estimates. Inventories of production units: Direct materials purchased during the year, 548,000; beginning inventory of direct materials, 36,000; and ending inventory of direct materials, 23,000. Totals from other budgets included:
Smooth Incorporated manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2021 and 2022 was 4,000 units. There was no beginning inventory in 2021. The following data summarized the 2021 and 2022 operations: 2021 2022 Units sold 3,000 4,200 Units produced 4,000 4,000 Costs: Variable factory overhead per unit $ 0.55 $ 0.65 Fixed factory overhead $ 1,800 $ 1,800 Variable marketing per unit $ 0.75 $ 1.00 Fixed Selling and Administrative $ 650 $ 650 Full costing operating income for 2021 is calculated to be: (Do not round intermediate calculations. Round your final answers to whole dollar amounts.) Multiple Choice $1,450. $1,900. $1,950. $1,521. $1,569.
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