Question:47 Consider the following information for the Intermediate Company for the year 2015. Compute the total operating profit under absorption costing. Table 1-60 Units in Beginning Inventory Units produced 10,500 Units Sold 5,700 Units Selling Price $350 Variable costs per unit: Direct Materials $112 Direct Labor $ 42 Variable Overhead $ 30 Fixed costs: Fixed Costs per unit produced Fixed Selling & Administrative Costs $29 $ 4,40,000

Question:47 Consider the following information for the Intermediate Company for the year 2015. Compute the total operating profit under absorption costing. Table 1-60 Units in Beginning Inventory Units produced 10,500 Units Sold 5,700 Units Selling Price $350 Variable costs per unit: Direct Materials $112 Direct Labor $ 42 Variable Overhead $ 30 Fixed costs: Fixed Costs per unit produced Fixed Selling & Administrative Costs $29 $ 4,40,000

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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Subject: Cost management & accountng MCQ's Bryans Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 53 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 13 Direct labor $ 6 Variable manufacturing overhead $ 5 Fixed manufacturing overhead per year $ 63,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 4 Fixed selling and administrative expense per year $ 71,000 Year 1 Year 2 Units in beginning inventory 0 3,000 Units produced 9,000 7,000 Units sold 6,000 7,000 Units in ending inventory 3,000 3,0000 The unit product cost under variable costing in Year 1 is closest to: $31.00 $28.00 $24.00 $35.00