Question: Beginning Inventory in Units - 800 Units Units produced - 5,000 Units Sold - 4,200 Sales - $630,000 Material Cost (unit level/variable) - $145,000 Variable Conversion Cost Used - $75,000 Fixed Manufacturing Cost (Facility Level) - $105,000 Indirect Operating Cost (fixed) - $125,000 What is the ending inventory under variable costing? Show your complete solution.

Question: Beginning Inventory in Units - 800 Units Units produced - 5,000 Units Sold - 4,200 Sales - $630,000 Material Cost (unit level/variable) - $145,000 Variable Conversion Cost Used - $75,000 Fixed Manufacturing Cost (Facility Level) - $105,000 Indirect Operating Cost (fixed) - $125,000 What is the ending inventory under variable costing? Show your complete solution.

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

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 31BEB: Inventory Valuation under Variable Costing Refer to the data for Pelham Company on the previous...

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Inventory Valuation under Variable Costing Refer to the data for Judson Company above. Required: 1. How many units are in ending inventory? 2. Using variable costing, calculate the per-unit product cost. 3. What is the value of ending inventory under variable costing? Use the following information for Brief Exercises 3-21 and 3-22: During the most recent year, Judson Company had the following data associated with the product it makes:
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Subject:- General Account Use the following data: Beginning inventory in units Units produced Units sold Sales Material cost (unit level/variable) 0 4,800 4,000 $ 4,00,000 $ 96,000 Variable conversion cost used $ 48,000 Fixed manufacturing cost (Facility Level) $ 72,000 Indirect operating cost (fixed) $ 80,000 a. What is the cost of goods sold under variable costing? b. What is the cost of goods sold under absorption costing? c. What is the operating income under variable costing? d. What is the operating income under absorption costing?
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Question:234 Given the following data. Beginning Inventory in Units - 0 Units produced - 4,800 Units Sold 4,000 Sales $400,000 Material Cost (unit level/variable) - $96,000 Variable Conversion Cost Used - $48,000 Fixed Manufacturing Cost (Facility Level) - $72,000 Indirect Operating Cost (fixed) - $80,000 What is the difference between the variable costing ending inventory cost and the absorption costing ending inventory cost? Show your complete solution.
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Value of the ending inventory under variable costing would be?
Variable Costing, Absorption Costing During its first year of operations, Snobegon, Inc. (located in Lake Snobegon, Minnesota), produced 40,900 plastic snow scoops. Snow scoops are oversized shovel-type scoops that are used to push snow away. Unit sales were 38,900 scoops. Fixed overhead was applied at $0.75 per unit produced. Fixed overhead was underapplied by $2,900. This fixed overhead variance was closed to Cost of Goods Sold. There was no variable overhead variance. The results of the year's operations are as follows (on an absorption-costing basis): Sales (38,900 units @ $20) $778,000 Less: Cost of goods sold 547,260 Gross margin $230,740 Less: Selling and administrative expenses (all fixed) 184,500 Operating income $ 46,240 Required: 1. Calculate the cost of the firm's ending inventory under absorption costing. Round unit cost to five decimal places. Round your final answer to the nearest dollar. %24 What is the cost of the ending inventory under variable costing? Round unit…
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