Question: 7 Smooch Incorporated, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 97 Units in beginning inventory 500 Units produced 8,400 Units sold 8,500 Units in ending inventory 400 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 20 $ 37 $ 1 $ 11 Fixed costs: Fixed manufacturing overhead $ 67,200 Fixed selling and administrative $1,61,500 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. What is the net operating income for the month under absorption costing? a. $8,500 b. $9,300 c. $3,200 d. $15,100

Question: 7 Smooch Incorporated, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 97 Units in beginning inventory 500 Units produced 8,400 Units sold 8,500 Units in ending inventory 400 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 20 $ 37 $ 1 $ 11 Fixed costs: Fixed manufacturing overhead $ 67,200 Fixed selling and administrative $1,61,500 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. What is the net operating income for the month under absorption costing? a. $8,500 b. $9,300 c. $3,200 d. $15,100

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 39E: Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify...

See similar textbooks

Similar questions

Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 2.70 is direct materials and 5.30 is overhead. What is the prime cost per unit? Conversion cost per unit?
The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?
Tutor please provide answer
Solve this Question with Step by step Answer
expert of account please help me
Subject: Cost Account Deboer Company, 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 $ 182 50 2,140 Units sold 880 Units in ending inventory 1,310 Variable costs per unit: Direct materials $ 80 Direct labor Variable manufacturing overhead Variable selling and administrative $ 32 $9 $ 15 Fixed costs: Fixed manufacturing overhead $ 25,680 Fixed selling and administrative $ 21,120 What is the total period cost for the month under the variable costing approach?
Please answer me this accounting question
Solve this question
Get correct answer general accounting question
Wanted this general account answer
Need general accounting question solution