Question:(Account) 5-59 Farron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced $ 172 0 9,700 Units sold 9,300 Units in ending inventory 400 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 33 $75 $ 21 $25 Fixed costs: Fixed manufacturing overhead $ 1,45,500 Fixed selling and administrative $ 10,300 What is the net operating income for the month under variable costing?

Question:(Account) 5-59 Farron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced $ 172 0 9,700 Units sold 9,300 Units in ending inventory 400 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 33 $75 $ 21 $25 Fixed costs: Fixed manufacturing overhead $ 1,45,500 Fixed selling and administrative $ 10,300 What is the net operating income for the month under variable costing?

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 & accounting MCQ's: Smidt Corporation has provided the following data for its two most recent years of operation: Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 9 Direct labor $ 5 Variable manufacturing overhead $ 5 Fixed manufacturing overhead per year $ 140,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 5 Fixed selling and administrative expense per year $ 65,000 Year 1 Year 2 Units in beginning inventory 0 3,000 Units produced during the year 10,000 7,000 Units sold during the year 7,000 6,000 Units in ending inventory 3,000 4,000 The unit product cost under absorption costing in Year 2 is closest…
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Subject: Cost management & accounting MCQ's: Wolanski Corporation has provided the following data for its most recent year of operations: Selling price per unit $ 48 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 11 Direct labor $ 5 Variable manufacturing overhead $ 5 Fixed manufacturing overhead per year $ 110,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 4 Fixed selling and administrative expense per year $ 71,000 Units in beginning inventory 0 Units produced during the year 11,000 Units sold during the year 8,000 Units in ending inventory 3,000 The unit product cost…