Required information Skip to question Jarvix Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $111 Units in beginning inventory 0 Units produced 8, 800 Units sold 8,900 Variable costs per unit: Direct materials $34 Direct labour $37 Variable manufacturing overhead $3 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $61,600 Fixed selling and administrative $169, 100 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. What was the unit product cost for the month under absorption costing?

Required information Skip to question Jarvix Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $111 Units in beginning inventory 0 Units produced 8, 800 Units sold 8,900 Variable costs per unit: Direct materials $34 Direct labour $37 Variable manufacturing overhead $3 Variable selling and administrative $9 Fixed costs: Fixed manufacturing overhead $61,600 Fixed selling and administrative $169, 100 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. What was the unit product cost for the month under absorption costing?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Rey Company’s only product sells for $226 per unit. Data for its first year of operations follow. Direct materials $ 30 per unit Direct labor $ 38 per unit Variable overhead $ 14 per unit Fixed overhead $ 456,000 per year Variable selling and administrative expenses $ 28 per unit Fixed selling and administrative expenses $ 220,000 per year Units produced and sold 28,500 units 1. Prepare an income statement for the year using absorption costing2. Prepare an income statement for the year using variable costing.
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the total period cost for the month under absorption costing? $ 133 0 7,000 6,800 200 $ 41 $ 57 $ 5 $4 $133,000 $ 34,000
Davison Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 95 Units in beginning inventory 0 Units produced 5,000 Units sold 4,900 Units in ending inventory 100 Variable costs per unit: Direct materials $ 26 Direct labor $ 40 Variable manufacturing overhead $ 1 Variable selling and administrative expense $ 4 Fixed costs: Fixed manufacturing overhead $ 40,000 Fixed selling and administrative expense $ 73,500 What is the total period cost for the month under variable costing?