Murphy Inc., which produces a Single producthas provided the following data for its most recentMonth of operation.Number of units producedVariable cost per unit:Direct materials.Direct LabovVariable manufacturing overheadVariableand adminstrative expenses.SellingFixed cost:Fixed manufacturing OverheadFixed Selling and adminstrative expenses7,000$37$43$15$84,000$119,000The Company had no beginning or ending inventoriesRequireda. Compute the unit product cost under absorption costingb. Compuse the unit product cost under variable costing.

Under Variable Costing Method; the per unit Direct Materials, Direct Labor and Variable…

Murphy Inc., which produces a Single product. has provided the following data for its most recent Month of operation. Number of units produced Variable cost per unit: Direct materials. Direct Labov Variable manufacturing overhead Variable Selling and adminstrative expenses Fixed cost: Fixed manufacturing Overhead Fixed Selling and adminstrative expenses 7,000 $37 $43 $15 $84,000 का 119,000 The Company had no beginning or ending inventories Required a. Compute the unit product cost under absorption costing b. Compuse the unit product cost under variable Costing.

Murphy Inc., which produces a Single product. has provided the following data for its most recent Month of operation. Number of units produced Variable cost per unit: Direct materials. Direct Labov Variable manufacturing overhead Variable Selling and adminstrative expenses Fixed cost: Fixed manufacturing Overhead Fixed Selling and adminstrative expenses 7,000 $37 $43 $15 $84,000 का 119,000 The Company had no beginning or ending inventories Required a. Compute the unit product cost under absorption costing b. Compuse the unit product cost under variable Costing.

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

Don't give answer in image format
kk. Subject:- Accounting
! Required information [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Income Statement (Absorption Costing) 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Sales Cost of goods sold Gross profit Income Income $ $ $ $ 5,040,000 3,240,000 1,800,000 1,404,000 396,000 $ 60 per unit $ 22 per unit $ 8 per unit 528,000 per year $ 11 per unit 105,000 per year
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead $ 147 0 6,900 6,600 300 Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $ 24 $ 54 $ 18 $ 18 $ 186,300 $ 27,600 Multiple Choice $114 per unit $141 per unit $123 per unit
need help
Domestic
Beamish Incorporated, which produces a single product, has provided the following data for its most recent month of operations: Number of units produced Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense Multiple Choice There were no beginning or ending inventories. The absorption costing unit product cost was: $101 per unit $139 per unit $106 per unit 10,900 $ 51 $ 50 $223 per unit $5 $9 $359,700 $817,500
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead. Variable selling and administrative expense Multiple Choice Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $110 per unit $137 per unit $143 0 $120 per unit 6,850 6,550 300 $93 per unit $23 $53 $17 $17 $184,950 $ 27,300
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units produced Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1,000 $50 $47 $2 $8 $31,000 $69,000 There was no beginning or ending inventories. What is the unit product cost under variable costing?
The following information was collected for the first year of manufacturing for Appliance Apps: Direct Materials per Unit $2.50 Direct Labor per Unit $1.50 Variable Manufacturing Overhead per Unit $0.25 Variable Selling and Administration Expenses $1.75 Units Produced 39,000 Units Sold 35,000 Sales Price $12 Fixed Manufacturing Expenses $117,000 Fixed Selling and Administration Expenses $20,000 Question Content Area Prepare an income statement under variable costing method. Appliance AppsIncome Statement $- Select - - Select - $- Select - - Select - $- Select - - Select - - Select - $- Select - Question Content Area Prepare a reconciliation to the income under the absorption method. Appliance AppsReconciliation $- Select - - Select - $- Select -
Grace Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $6,400 $18,600 $5,600 SS $(20,400) $ $ $ 95 0 3,500 3,100 400 22 What is the net operating income for the month under absorption costing? 2975 39 55,900 3,000
Get Answer