in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $400. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 250 Units sold 190 Units in ending inventory 60 Variable costs per unit: Direct materials $ 170 Direct labour $ 90 Variable manufacturing overhead S 50 Variable selling and administrative $ 20 Fixed costs: Fixed manufacturing overhead $ 195,000 Fixed selling and administrative S 41,000 Required: 1. Assume that the company uses absorption costing Computo the unit product cost for on gamelan

in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $400. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 250 Units sold 190 Units in ending inventory 60 Variable costs per unit: Direct materials $ 170 Direct labour $ 90 Variable manufacturing overhead S 50 Variable selling and administrative $ 20 Fixed costs: Fixed manufacturing overhead $ 195,000 Fixed selling and administrative S 41,000 Required: 1. Assume that the company uses absorption costing Computo the unit product cost for on gamelan

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $500. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold. Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Unit product cost $ $ $ $ 0 Unit product cost 400 365 35 220 160 40 20 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. $200,000 $44,500 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.
Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $752. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold 0 21,000 18,000 Units in ending inventory 3,000 Variable costs per unit: Direct materials 110 Direct labor $ 420 Variable manufacturing overhead $ 62 Variable selling and administrative $ 19 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $850,000 $480,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. 1. Absorption costing unit product…
Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $850. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Sales Cost of goods sold Gross margin Selling and administrative expenses Operating income Total fixed manufacturing overhead in ending inventory $ $ $ $ An absorption costing income statement prepared by the company's accountant appears below: Variable expenses: 0 500 450 50 Fixed expenses: 150 270 40 25 $120,000 $ 40,000 $382,500 315,000 67,500 51,250 $ 16,250…
Ida Sidha Karya Company is a family-owned company located in the village of Glanyar on the island of Ball in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $600. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Unit product cost $ $ $ $ 0 300 230 70 Unit product cost 180 270 60 20 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. $135,000 $ 52,500 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.
L- Ida Sidha Karya Company is a famly-owned compay located on the Island of Balı In Indonesla. The company produces a handcrafted Balinese musical Instrument called a gamelan that Is similar to a xylophone. The gamelans are sold for $910. Selected data for the company's operations last year follow: Units in beginning inventory Units produced з00 Units sold 265 35 Units in ending inventory Variable costs per unit: Direct materials 115 Direct labor 325 Variable manufacturing overhead Variable selling and administrative 45 28 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 72,900 $ 34,800 The absorption costing Income statement prepared by the company's accountant for last year appears below: $ 241, 150 192, 125 Sales Cost of goods sold Gross margin Selling and administrative expense 49,825 39,300 9,725 Net operating income Requlred: 1. Under absorption costing, how much fixed manufacturing overhead cost Is Included in the company's Inventory at the end cof…
Need help
Vishnu
XYZ owns a branch in New York. During the year, the home office shipped to the branch supplies costing P120,000 at a billed price of 20% above cost. The inventories of supplies at the branch were as follows: Beg Inventory, P90,000 Ending inventory P108,000. On December 31, the home office holds inventories of P160,500 which included P10,500 held on consignment. Both locations use the periodic inventory method. Compute for the inventories in a combined Statement of Financial Position as of December 31.
answer in text form please (without image)
Ida Sidha Karya Company is a family-owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $981. Selected data for the company’s operations last year follow: Units in beginning inventory 0 Units produced 11,000 Units sold 8,000 Units in ending inventory 3,000 Variable costs per unit: Direct materials $ 200 Direct labor $ 520 Variable manufacturing overhead $ 60 Variable selling and administrative $ 21 Fixed costs: Fixed manufacturing overhead $ 670,000 Fixed selling and administrative $ 930,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.…
Emil Traders, Inc. sells cellphone cases which it buys from a local manufacturer. Emil Traders sells 24,000 cases evenly throughout the year. The cost of carrying one unit in inventory for one year is P11.52 and the order cost per order is P38.40. If Emil. Traders would buy in economic order quantities, the total inventory carrying costs per year is a. P276,480. c. P 23,040. b. P 2,304. d. P138,240
This question is based on t he following information: B Hon Company purchases thermostats and use them in heating units it manufactures. Annual requirement for the thermostat is 2,000 units. The cost per thermostat is P 20. The cost of placing a single order is P 50 while the cost of storage is 25% of the average inventory value. The suppler of the thermostat offers a discount of 2% if the company will order in lots of 500 units. 1. How much would be the total costs associated with the inventory if the company adopts the discounted ordering policy? . A. P 40,000 B. P 40,625 C. P 41,000 D. P 42,0002. How much is the net cash flow net of income taxes for the 3rd year?A. 17,268B. 22,000C. 22,994D. 30,618