Question 23 options: ElSmith Company manufactures a single product. Assume the following data for 2011. Manufacturing Fixed costs in total: (Budgeted or planned and actual) Selling & Admin Variable costs per unit: Manufacturing Selling & Admin. $100,000 $75,000 $ 11 $2 There were 6,000 units in FG inventory January 1, 2011. During the year 25,000 units were produced 4,000 units remain in ending FG inventory. Planned or budgeted production was 20,000 units. Under variable costing, the product cost of one unit would be? Assume that the operating income under variable costing is $28,000. What is the operating income under absorption costing? (You do not need to prepare an income statement to answer this question and the Price per unit is not given.) The Production Volume Variance (PVV) variance is?

Question 23 options: ElSmith Company manufactures a single product. Assume the following data for 2011. Manufacturing Fixed costs in total: (Budgeted or planned and actual) Selling & Admin Variable costs per unit: Manufacturing Selling & Admin. $100,000 $75,000 $ 11 $2 There were 6,000 units in FG inventory January 1, 2011. During the year 25,000 units were produced 4,000 units remain in ending FG inventory. Planned or budgeted production was 20,000 units. Under variable costing, the product cost of one unit would be? Assume that the operating income under variable costing is $28,000. What is the operating income under absorption costing? (You do not need to prepare an income statement to answer this question and the Price per unit is not given.) The Production Volume Variance (PVV) variance is?

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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