Question: lancu Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $149 Units in beginning inventory 0 Units produced 4,200 Units sold 3,900 Units in ending inventory 300 Variable costs per unit: Direct materials $27 Direct labor $46 Variable manufacturing overhead $5 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $155,400 Fixed selling and administrative $70.200 What is the unit product cost for the month under variable costing? a. $124 per unit b. $115 per unit c. $78 per unit d. $87 per unit

Question: lancu Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $149 Units in beginning inventory 0 Units produced 4,200 Units sold 3,900 Units in ending inventory 300 Variable costs per unit: Direct materials $27 Direct labor $46 Variable manufacturing overhead $5 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $155,400 Fixed selling and administrative $70.200 What is the unit product cost for the month under variable costing? a. $124 per unit b. $115 per unit c. $78 per unit d. $87 per unit

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...

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The following information pertains to Vladamir, Inc., for last year: There are no work-in-process inventories. Normal activity is 100,000 units. Expected and actual overhead costs are the same. Costs have not changed from one year to the next. Required: 1. How many units are in ending inventory? 2. Without preparing an income statement, indicate what the difference will be between variable-costing income and absorption-costing income. 3. Assume the selling price per unit is 29. Prepare an income statement using (a) variable costing and (b) absorption costing.
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Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for 60 each. The actual variable unit cost is as follows: Fixed overhead was 320,000. Fixed selling expenses consisted of advertising copayments totaling 110,000. Fixed administrative expenses were 236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was Refer to the information in 2.24. The gross margin percentage for last year was a. 12.57% b. 55.67% c. 28.95% d. 38.33%
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