Per unit information for Product M of Adolf Corporation is provided below:$80 per unitDirect materials per unitDirect labor per unit$60 per unitVariable overhead per unit$25 per unitVariable selling and administrative expensesFixed overheads$50 per unit$100,000Fixed selling and administrative expenses$300,000If the company produced and sold 50,000 units of Product M during the year, then the totalperiod cost under variable costing would be:a. $8,250,000b. $2,900,000c. $2,800,000d. $2,750,000AnswerABCD

Name: Per unit information for Product M of Adolf Corporation is provided b
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Per unit information for Product M of Adolf Corporation is provided below:$80 per unitDirect materials per unitDirect labor per unit$60 per unitVariable overhead per unit$25 per unitVariable selling and administrative expensesFixed overheads$50 per

Lets understand the basics. In variable costing period cost are total of fixed cost and all variable…

Business

Accounting

Per unit information for Product M of Adolf Corporation is provided below: $80 per unit Direct materials per unit Direct labor per unit $60 per unit Variable overhead per unit $25 per unit $50 per unit Variable selling and administrative expenses Fixed overheads $100,000 | Fixed selling and administrative expenses $300,000 If the company produced and sold 50,000 units of Product M during the year, then the total period cost under variable costing would be: a. $8,250,000 b. $2,900,000 c. $2,800,000 d. $2,750,000 Answer OA B C D

Per unit information for Product M of Adolf Corporation is provided below: $80 per unit Direct materials per unit Direct labor per unit $60 per unit Variable overhead per unit $25 per unit $50 per unit Variable selling and administrative expenses Fixed overheads $100,000 | Fixed selling and administrative expenses $300,000 If the company produced and sold 50,000 units of Product M during the year, then the total period cost under variable costing would be: a. $8,250,000 b. $2,900,000 c. $2,800,000 d. $2,750,000 Answer OA B C D

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

Aqua Primavera, Inc. has provided the following information for the year. Units produced 6,000 units Sales price $700 per unit Direct materials $40 per unit Direct labor $20 per unit Variable manufacturing overhead $45 per unit Fixed manufacturing overhead $480,000 per year Variable selling and administration costs $65 per unit Fixed selling and administration costs $280,000 per year What is the unit product cost using variable costing? A. $65 B. $105 C. $185 D. $60
Tat Corporation produces a single product and has the following cost structure: Number of units produced each year 7,000 Variable costs per unit: Direct materials $ 77 Direct labor $ 89 Variable manufacturing overhead $ 5 Variable selling and administrative expense $ 3 Fixed costs: Fixed manufacturing overhead $532,000 Fixed selling and administrative expense $574,000 The unit product cost under variable costing is: Multiple Choice $247 per unit $171 per unit $174 per unit $169 per unit
Aqua Primavera, Inc. has provided the following information for the year: Units produced 6,000 units Sales price $300 per unit Direct materials $20 per unit Direct labor $30 per unit Variable manufacturing overhead $45 per unit Fixed manufacturing overhead $440,000 per year Variable selling and administration costs $60 per unit Fixed selling and administration costs $260,000 per year What is the unit product cost using variable costing? A.$ 168 $168 B.$ 50 $50 C.$ 95 $95 D.$ 75
Last month Jomar Box Company produced and sold 7,000 units of JumboBox for $ 60 per unit. Fixed production costs were $ 40,000, and variable production costs amounted to $ 15 per unit. Fixed selling and administrative costs totaled $ 26,000, and variable selling and administrative costs amounted to $ 5 per unit.Prepare an income statement for Jomar Box Company under the following methods:a.Absorption Costingb.Variable Costing
Barnes Company reports the following for its product for its first year of operations. Direct materials $ 36 per unit Direct labor $ 26 per unit Variable overhead $ 12 per unit Fixed overhead $ 70,000 per year Variable selling and administrative expenses $ 3 per unit Fixed selling and administrative expenses $ 28,000 per year Compute total product cost per unit using absorption costing for the following production levels: (a) 2,800 units, (b) 3,500 units, and (c) 5,000 units. The company sells its product for $140 per unit. Compute gross profit using absorption costing assuming the company (a) produces and sells 2,800 units and (b) produces 3,500 units and sells 2,800 units. The company sells its product for $140 per unit. Compute contribution margin using variable costing assuming the company (a) produces and sells 2,800 units and (b) produces 3,500 units and sells 2,800 units.
Huds Incorporated reports the information below on its product. The company uses absorption costing and has a target markup of 40% of absorption cost per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Compute the target selling price per unit under absorption costing. $ 100 per unit $ 30 per unit $ 8 per unit $ 600,000 per year $ 3 per unit $ 120,000 per year 50,000 units per year 50,000 units per year Product cost per unit using absorption costing Target markup per unit Target selling price per unit Per unit 0 $ 0
Assume the following information for a company that produced 10,000 units and sold 8,000 units during its first year of operations and produced 8,000 units and sold 10,000 units during its second year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 75 Direct labor $ 50 Variable manufacturing overhead $ 10 Sales commission $ 8 Fixed selling and administrative expense $ 110,000 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the company’s contribution margin for the second year of operations? Multiple Choice $380,000 $480,000 $570,000 $210,000
Question: ABC Company produces a single product and has the following cost structure: Number of units produced each year Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead 3,000 $77 $41 $3 Variable selling and administrative expenses $5 Fixed costs per year: Fixed manufacturing overhead $36,000 Fixed selling and administrative expenses $249,000 Required: Compute the per unit product cost under absorption costing and variable costing. If ABC company produced 1,000 more units than it sold during the period, which method would produce the highest net income and by how much?
A company produced and sold 3,400 units of its only product this year. The sales price is $162 per unit. Fixed costs include overhead of $85,000 per year, and selling and administrative expenses of $68,000 per year. Variable costs per unit follow. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Use variable costing to compute contribution margin. Variable expenses Contribution Margin (Variable Costing) $ 28 per unit $ 30 per unit $5 per unit 34 per unit
Barnes Company reports the following for its product for its first year of operations. $ 33 per unit $ 23 per unit $ 14 per unit $ 44,000 per year $ 3 per unit $ 25,000 per year Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Compute total product cost per unit using absorption costing for the following production levels: (a) 2,000 units, (b) 2,200 units, and (c) 4,400 units. Product cost per unit using absorption costing Direct materials Direct labor Variable overhead Fixed overhead Total product cost per unit 2,000 33 23 14 44,000 X Units produced 2,200 33 23 14 $ 4,400 33 23 14
Kirchoff, Inc., manufactures a product with the following costs: Direct materials Per Unit Per Year P18.00 Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable SG&A expenses P11.90 P2.10 P1,422,000 P3.60 Fixed SG&A expenses The pricing calculations are based on budgeted production and sales P1,540,500
Menk Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 6.80 Direct labor $ 3.80 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 20,200 Sales commissions $ 0.50 Variable administrative expense $ 0.40 Fixed selling and administrative expense $ 10,100 Required: a. If 5,220 units are sold, what is the variable cost per unit sold? Note: Round "Per unit" answer to 2 decimal places. b. If 5,220 units are sold, what is the total amount of variable costs related to the units sold? c. If 5,220 units are produced, what is the total amount of manufacturing overhead cost incurred? a. Variable cost per unit sold b. Total variable costs c. Total manufacturing overhead cost