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...

See similar textbooks

Similar questions

Income Statements under Absorption and Variable Costing In the coming year, Kalling Company expects to sell 28,700 units at 32 each. Kallings controller provided the following information for the coming year: Required: 1. Calculate the cost of one unit of product under absorption costing. 2. Calculate the cost of one unit of product under variable costing. 3. Calculate operating income under absorption costing for next year. 4. Calculate operating income under variable costing for next year.
Provide answer don't use ai
Prepare the Income Statement of Rotary Limited for the year ended 28 February 2021 using the following methods of costing: 2.1 Marginal costing | 22 Absorption costing INFORMATION The following information was extracted from the accounting records of Rotary Limited for the year ended 28 February 2021: Inventory on 01 March 2020 Nil Production for the year 35 000 units Sales for the year 30 000 units Fixed costs: Manufacturing R700 000 Sales and administration R480 000 Variable costs per unit: Manufacturing R48 Sales and administration R12 Selling price per unit R150
10
Need ALL answered plz
Question 4 Achimota Ltd produces a single product and has the following financial information: Selling Price Cost per unit: Direct Materials Direct Labour Variable Overheads GH¢ 50 15 14 4 Fixed manufacturing overheads are GH¢40,000 per month, production volume is 10,000 units per month and sales is 9,200 units. You are required to: a) Calculate the cost per unit under: i. Absorption costing ii. Marginal costing b) Prepare the income statement of ABC Ltd under: i. Absorption costing technique ii. Marginal costing technique c) Reconcile the profits obtained under (bi) and (bii) d) Explain the reasons for the difference in profits in (c) above.
Need help with this accounting question
aa
p24
Provide correct solution for this question
Marginal Costing and Absorption Costing Question 2 The following information is being provided by ABC Company: Direct material cost per unit OMR 20 Direct labour cost per unit OMR 8 Variable manufacturing overhead per unit OMR 2 Total fixed manufacturing overhead per year OMR 150,000 Variable selling and administration expenses OMR 2.5 per unit sold Fixed selling and administration expenses OMR 75,000 Number of units produced per year 25,000 Units Number of units sold per year 21,000 Units Opening stock of finished goods Selling price OMR 50 You are required to: A. Calculate the profit under marginal costing and absorption costing
COST ACCOUNTING TOPIC PLS SHOW SOLUTION