In 2023, Highland Manufacturing's income under absorption costing was $24,000 higher than its income under variable costing. During the year, the company produced 30,000 units. If total variable production costs were $120,000 and fixed manufacturing overhead was $60,000, how many units did the company sell in 2023?
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- During 2022, Bridgeport Corp. produced 45,100 units and sold 36,080 for $14.00 per unit. Variable manufacturing costs were $4.00 per unit. Annual fixed manufacturing overhead was $108,240. Variable selling and administrative costs were $3.00 per unit sold, and fixed selling and administrative expenses were $19,900. (a) Prepare an absorption-costing income statement. (b) Your answer is correct. 4 Sales Cost of goods sold Beginning inventory Add ✓ Costs of goods manufactured Goods available for sale Less Ending inventory Gross margin Less Selling and administrative expenses Operating income eTextbook and Media Bridgeport Corp. Income Statement-Absorption Costing For the Year Ended December 31, 2022 Variable costing operating income $ Absorption costing operating income Fixed manufacturing overhead costs deferred in ending inventory $ $ 288640 i 288640 0 57728 i 505120 230912 i 274208 Reconcile the difference between the net income under variable costing and the net income under…The X Corp income statement resembles the following after 35,000 units were sold in 2020. Sales = $420,000 / $12 per unit Variable = $192,500 / $5.5 per unit Contribution Margin = $227,500 / $6.5 per unit Fixed Expense $110,000 Net Op Income $117,500 A. What is X Corp. breakeven point in units and dollars? B. What is X Corp. margin of safety in %, units, and dollars?You have the following information about a company in 2021: Total Costs were $174.7 million. Assume the Variable Costs were 60% and the rest were Fixed Costs. Sales Volume in thousands was 361.7 and will not change in the future. Cost inflation in 2022 was 5%. What was the variable cost per unit in 2022? Select one: O A. $290.1 O B. $105.2 O C. $483.5 O D. $304.3
- Compute net income under variable costing?During 2022, Sheridan Corp. produced 38,000 units and sold 38,000 for $14 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $76,000 ($2 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $18,000. Prepare a variable-costing income statement. Sales Less Variable cost of goods sold SheridanCorp. Income Statement-Variable Costing For the Month Ended December 31, 2022 LA tA 76000In 2023, Dolan Distributors had sales of $914,000, fixed costs of $139,200, variable costs of $514,800, and operating income of $260,000. What is Dolan's contribution margin ratio ? 56.3% 50.5% 27.9% 77.6% 43.7%
- Iverson, Inc. has $1,292,000 of sales revenue, $693,000 of variable costs, and $673,000 of fixed costs in 2023. Assuming the contribution margin percentage stays the same in 2024, what will the break even point (in sales dollars) be?For the current year ended March 31, Davidson Company expects fixed costs of $624,000, a unit variable cost of $75, and a unit selling price of $94. a. Compute the anticipated break-even sales (units). b. Compute the sales (units) required to realize an operating income of $168,000. (Round your answer to nearest units)Determine how many units the company sold in 2020 general accounting
- Sandhill Co. had a net loss of $152,000 in 2021 when the selling price per unit was $40, the variable costs per unit were $20, and the fixed costs were $602,000. Management expects per unit data and total fixed costs to be the same in 2022. Management has set a goal of earning a net income of $77,500 in 2022. (a) Compute the units sold in 2021. Units sold in 2021 Save for Later units Attempts: 0 of 1 used Submit AnswerDuring 2020, Rafael Corp. produced 48,700 units and sold 34,090 for $14 per unit. Variable manufacturing costs were $7 per unit. Annual fixed manufacturing overhead was $102,270 ($3 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $19,200. Prepare an absorption-costing income statement. Rafael Corp. Income Statement-Absorption Costing Reconcile the difference between the net income under variable costing and the net income under absorption costing. That is, show a calculation that explains what causes the difference in net income between the two approaches. Variable costing net income Fixed manufacturing overhead costs deferred in ending inventory Absorption costing operating income $ $For the current year ending December 31, Rutherford Manufacturing expects fixed costs of $4,200,000, a unit variable cost of $14.75, and a unit selling price of $19.25. A) Compute the anticipated break-even sales (in units). B) Compute the sales (in units) required to realize income from operations of $650,000.