provide cost account ans Sterling Corporation reports the following information:Units soldUnits produced20092010201120,00020,00020,00020,00024,00016,000Fixed production costs$12,00,000 $12,00,000 $12,00,000Variable production costs per unit$ 200$ 200$ 200Selling price per unit$ 400$ 400$ 400Fixed selling and administrative$ 4,00,000$ 4,00,000 $ 4,00,000Calculate the profit each year using variable costing. Explain why profitdoes not fluctuate from year to year using variable costing.

Step 1: Understand Variable CostingUnder variable costing, only variable production costs are…

Answered: Sterling Corporation reports the…

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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What is the value to be given to product Del? A. P25,000 B. P21,000 C. P24,000 D. P20,000
Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 52,000 to 92,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 82,000 units during the year at a selling price of $9.56 per unit. Prepåre a contribution format income statement for the year.
Answer this cost accounting question
Total Costs Variable Costs Fixed Costs Total Costs Costs per unit Variable cost per unit Fixed cost per unit 008 S Total cost per unit 0082 $ 60,000 101 150,000 Units produced and sold 80,000 001500 4.50 erinoM nsl 100,000 doa 19A Gigi's Gadgets manufactures and sells a single product. A partially completed schedule of the co total and per unit costs over a relevant range of 60,000 to 100,000 units produced and sold durir given year are listed above. 1. Complete the schedule for the company's total and unit costs above.matul ad quizU 2. Assume that the company sells 90,000 during a year. The selling price is $7.50 per unit. an income statement using the contribution margin format for that year.
Under full costing
Check myt 750 900 Number of Canoes Produced and Sold Total costs Variable costs 550 $115,500 $157,500 $189,000 198,000 $387,000 198,000 198,000 $313,500 $355,500 Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit $ 210.00 360.00 $ 210.00 264.00 $ 210.00 220.00 $ 570.00 $ 474.00 $ 430.00 Total cost per unit Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. (Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 1234 should be entered as 12.34%) and all other answers to the nearest dollar amount.) Scenario 2 Increase Scenario 3 Scenario 1 Raises Sales Price to $750 per Canoe Sales Price and Variable Cost per Unit by 10 Percent Decrease Fixed Cost by 20 Percent Unit Contribution Margin Contribution Margin Ratio…
Average Cost per Unit $ 7.00 $ 4.00 $ 1.50 $ 5.00 $ 3.50 $ 2.50 $ 1.00 $ 0.50 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. For financial accounting purposes, what is the total amount of perlod costs incurred to sell 20,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 22,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 18,000 units? 1. Total amount of product costs 2. Total amount of period costs incurred 3. Total amount of product costs 4. Total amount of period costs
60.000 units $75,000 $120,000 $65,000 90,000 units $75,000 $180,000 $80,000 $335,000 Cost A Cost B Cost C $260,000 Total Costs cost Cost C is a О А. fixed О В. mixed O C. variable O D. sunk
Assume the following information for a company that produced and sold 10,000 units during its first year of operations: Per Unit Per Year $ 200 $ 71 $ 50 $ 9 $ 8 Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead $ 300,000 Using absorption costing, what is the company's net operating income? Multiple Choice O $320,000 $620,000 $400,000 $300,000
General accounting question please solve
50 voitabicaol brus eigaoto Cost Accounting Last year. Abner Company incurred the following costs P 50,000 20,000 130,000 40,000 36,000 bourbo Direct materials Direct labora Factory overhead Selling expense Administrative expense leto Units produced and sold 10,000 units at a price P31 each 13. Prime cost per unit is a. P 7.00 b.P15.00 c. P 5.00 d. P20.00 14. Con ersion cost per unit is a. ? 7. b. P 15.) c P20.00. d. P26.00 15. Cost of goods solt pe unit is stoq 31A a. P 7.0 b. P 15.09 0200 ba c. P 20.00 d. P26.00 16. Gross profit per unit is dshav a. P 11.00 c. P 16.00 d. P 24.00 b. P 15.00 17. Operating income is a. P 24,000 le bivism.ro b. P 110,000 c. P°74,000 d. P110,000
Assume the following information for a company that produced and sold 10,000 units during its first year of operations: Per Unit $ 200 $77 $ 50 $10 Selling price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Using absorption costing, what is the company's unit product cost? Multiple Choice O $157 O $167 $127 $137 Per Year $ 300,000

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