Question: Belan Company provides the following information for their first year of operations in 2016: Sales. 5.000 units @ $10 each: Total production. 7.500 units: Selling and administrative costs: fixed $1.000. Variable $1 per unit: Production costs per unit: Direct materials $2.00. Direct labor $2.00. Variable overhead $1.00. fixed manufacturing overhead $7.500. Belan Company uses absorption costing. Use this information to determine for Belan Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units) A. Cost of Goods Sold B. Net Income

Question: Belan Company provides the following information for their first year of operations in 2016: Sales. 5.000 units @ $10 each: Total production. 7.500 units: Selling and administrative costs: fixed $1.000. Variable $1 per unit: Production costs per unit: Direct materials $2.00. Direct labor $2.00. Variable overhead $1.00. fixed manufacturing overhead $7.500. Belan Company uses absorption costing. Use this information to determine for Belan Company the FY 2016: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units) A. Cost of Goods Sold B. Net Income

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.
Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.
SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = 543,000 + 1.34X, where X equals number of smokers. Last year, SmokeCity produced 20,000 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity? 2. What is the total overhead cost incurred by SmokeCity last year? 3. What is the total fixed overhead cost incurred by SmokeCity last year? 4. What is the total variable overhead cost incurred by SmokeCity last year? 5. What is the overhead cost per unit produced? 6. What is the fixed overhead cost per unit? 7. What is the variable overhead cost per unit? 8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 19,500 units and (b) 21,600 units. (Round your answers to the nearest cent.) Explain this outcome.
please provide correct answer
Want accurate solution to both part
Answer both part
Please solve this one
can you help me with answer accounting
Subject. General accounting
Compute the net income
Need help with this accounting question
Required [The following information applies to the questions displayed below.] Diego Company manufactures one product that is sold for $78 per unit. The following information pertains to the company's first year of operations in which it produced 60,000 units and sold 55,000 units. Variable costs per unit: Manufacturing: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses 3. What is the company's total contribution margin under variable costing? Total Contribution margin LA LA LA LA 8223 12 $1,260,000 $ 654,000