Ober 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 Required: $ 127 0 8,970 8,540 430 $ 37 $ 36.50 $ 5.50 $ 12.50 $ 183,885 $ 109,900 a. Prepare a contribution format income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing.

Ober 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 Required: $ 127 0 8,970 8,540 430 $ 37 $ 36.50 $ 5.50 $ 12.50 $ 183,885 $ 109,900 a. Prepare a contribution format income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing.

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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The following data is for a company that produces a single product. Selling price 193 Units in beginning inventory Units produced 3,090 2,910 Units sold Variable costs per unit: Direct materials 53 Direct labor 59 2$ Variable manufacturing overhead Variable selling and administrative expense 15 13 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 89,610 $ 8,730 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using variable costing. d. Prepare an income statement for the month using absorption costing. e. Reconcile the variable costing and absorption costing net operating incomes for the month. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E What is the unit product cost for the month under variable costing? Cost Per…
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A manufacturing company that produces a single 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 154 2,560 2,230 330 51 24 $. 15 16 $92,160 $11,150 The tegross margin for the month under absorption costing is: Multiple Chotce $62.440 S15.610, K Prev 4: of 10 Next > ere to search
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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
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