Pierre Corporation manufactures a single product that it sells for $122 per unit. The company had the following cost structure thsi year: Variable Manufacturing Cost per unit: $27 Variable Selling and Administrative cost per unit: $14 Fixed Manufacturing Cost, Total: $2,713,000 Fixed Selling and Administrative Costs, Total: $1,282,000 There were no units in beginning inventory. During the year, 93,000 units were produced and 86,000 units were sold.   Under absorption costing, the unit product cost is: Select one: A. $56.17 B. $87.45 C. $28.91 D. $70.17 E. $55.91

Q: Aaron Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost is the cost incurred on the production or making of a product. It is the cost that…

Q: What is the net operating income this year using the absorption costing method? Please prepare the…

A: 1. Calculate product cost per unit for absorption costing:  Product cost per unit = Variable cost…

Q: Trez Company began operations this year. During this year, the company produced 100,000 units and…

A: The income statement is an essential part of the financial statements of the company. Indicates…

Q: Spar Limited incurs the following costs to produce and sell a single product Varinble costs per…

A: Product cost All the costs which are being spent to create a product from its raw material form to…

Q: Ing Corporation, which has only one product, has provided the following data concerning its most…

A: Unit product cost (variable costing) = Direct materials + Direct labor + Variable manufacturing…

Q: Nielson Corp. sells its product for $6.600 per unit. Variable cost per unit are: manufacturing,…

A: Answer  Correct option is  = 2nd  option             $4800 Explanation:  Cogs = Variable Cost  +…

Q: Trez Company began operations this year. During this year, the company produced 100,000 units and…

A: The income statement includes all the revenue and expenses. The resulting amount after deducting…

Q: B. Johnson Co. produces a single product. Last year, the firm had 25,000 units in its ending…

A: ABSORPTION COSTING  Absorption Costing is a Cost managerial Accounting method in which All Cost…

Q: Steering Manufacturing produces snow shovels. The selling price per snow shovel is $29.00. There is…

A: Ending inventory refers to the amount of inventory or stock that a business has on hand at the end…

Q: The following information for the past year for the Blaine Corporation has been provided: Fixed…

A: Sales revenue = 10000*$18.32 = $183,200 Variable costs = $115,000 + $22,000 + $42,000 = $179,000…

Q: Alyssa Company produces a single product. Last year, the company had 16,000 units in its beginning…

A: Total increase in inventory = Higher profit as per absorption costing / fixed manufacturing overhead…

Q: A company that produces a single product had a net operating income of $87,000 using variable…

A: The difference in the net operating income of variable costing and absorption costing occurs only…

Q: Trez Company began operations this year. During this year, the company produced 100,000 units and…

A: VARIABLE COSTINGVariable Costing is a Cost Managerial Accounting Method in which all variable cost…

Q: Sierra Company incurs the following costs to produce and sell its only product.         Variable…

A: Variable costing and Absorption costing are two methods of calculating cost and profits of the…

Q: Silver Corporation produces a single product. During the current year, Silver produced 30,000 units…

A: The major difference in the income of variable costing and absorption costing occurs due to the…

Q: The Riego company had a net operating income of P85,500 using variable costing and a net operating…

A: Total fixed manufacturing overhead P1,50,000 Production in units 100000 Fixed manufacturing…

Q: Calculate net income for the month using variable costing.   a. $173,236   b. $153,781   c.…

A: Units produce  81,450 Units sold 77,820 Selling price per unit:                      $13.80…

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 26,160 units and sold…

A: The net income under variable costing differs from the net income under absorption costing due to…

Q: Chandler Company sells its product for $108 per unit. Variable manufacturing costs per unit are $49,…

A: Under absorption costing, total cost incurred for manufacturing the product whether it is fixed cost…

Q: Farris Corporation, which has only one product, has provided the following data concerning its most…

A: Unit product cost for the month = Direct materials + Direct labor + Variable manufacturing overhead

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 33,930 units and sold…

A: Contribution is the excess amount over sales value. It can be calculated as underContribution =…

Q: During its first year of operation Salon Manufacturing Company sold 1,000 units of inventory. Salon…

A: Fixed manufacturing overhead costs per unit = Fixed manufacturing overhead costs / Total no. of…

Q: Requirements: a) Calculate unit product cost using absorption costing and variable costing. b)…

A: a) Calculate unit product cost using absorption costing and variable costing: Unit product cost…

Q: Olson manufactures a single product and sells it for $10 per unit. At the beginning of the year…

A: Under Absorption costing cost of goods sold, value of beginning inventory and value of ending…

Q: The contribution margin per unit was:

A: Contribution margin per unit = Sales price per unit - Variable cost per unit

Q: Jax Incorporated reports the following data for its only product. The company had no beginning…

A: Under absorption costing, fixed manufacturing costs are also allocated to the units produced.…

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 34,250 units and sold…

A: The net income using variable costing is calculated as difference between contribution margin and…

Q: Fixed​ costs:   Manufacturing $130,000 Marketing 18,000 Administrative 21,000 Variable​ costs:…

A: Sales = 60,000 * 19.19  Sales = $1,151,400

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.