Question: 77 Boston, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $20 per unit produced. Variable operating (nonmanufacturing) cost was $9 per unit sold. Planned and actual fixed manufacturing costs were $950,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $360,000. Boston sold 130,000 units of a product at $40 per unit. Boston's 2017 operating income using absorption costing is a) $420,000 b) $120,000 c) $480,000 d) $780,000 e) none of these.

A 121.

Hamilton Inc. planned and actually manufactured 250,000 units of its single product in 2022, its first year of operation. Variable manufacturing cost was $19 per unit produced. Variable operating (non-manufacturing) cost was $10 per unit sold. Planned and actual fixed manufacturing costs were $750,000. Planned and actual fixed operating (non-manufacturing) costs totalled $370,000. Hamilton sold 110,000 units of product at $45 per unit. Required 1. Hamilton's 2022 operating income using absorption costing is (a) $4,700,000, (b) $1,060,000, (c) $640,000, (d) $(2,580,000), or (e) none of these. Show supporting calculations. 2. Hamilton's 2022 operating income using variable costing is (a) $4,700,000, (b) $1,060,000, (c) $640,000, (d) $(2,580,000), or (e) none of these. Show supporting calculations. Requirement 1. Hamilton's 2022 operating income using absorption costing is (a) $1,060,000, (b) $640,000, (c) $4,700,000, (d) $(2,580,000), or (e) none of these. Show supporting calculations.…

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What is the per unit manufacturing cost under variable costing?

Current Attempt in Progress     Lily Company uses a standard cost accounting system. In 2022, the company produced 27,600 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $12.00. Normal capacity was 50,300 direct labor hours. During the year, 130,200 pounds of raw materials were purchased at $0.90 per pound. All materials purchased were used during the year. (a)     If the materials price variance was $5,208 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound

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A28

4. JV Company began operations on Jan. 1, 2020 and produces a single product that sells for P7 per unit. Standard capacity is 100,000 units per year. 100,000 units were produced and 80,000 units were sold in 2020. Manufacturing costs, selling and administrative expenses were as follows: Fixed Costa Variable Costs PL.50 per unit produced P1.00 per unit produced PO.50 per unit produced PO.50 per unit sold Raw materials Direct labor Factory overhead Selling & Administrative P150,000 P80,000 There were no variances from the standard variable costs. Any under or over-applied overhead is written off directly at the year-end adjustment to cost of goods sold. In presenting inventory on the balance sheet at Dec. 31, 2020, the unit cost under absorption is d. P4.50 b. P3.00 с. Р3.50 e. None of these; answer is a. P2.50 5. Refer to no. 4. What is the net income for the year under direct costing? a. P50,000 b. P80,000 c. P90,000 d. Pi20,000 e. None of these; answer is