Sunrise Corporation reports the following information for April. Calculate the gross profit and operating income for April using absorption costing. Item Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Amount ($) 120,000 30,000 20,000 Variable Selling and Administrative Costs 15,000 Fixed Selling and Administrative Costs 5,000

Sunrise Corporation reports the following information for April. Calculate the gross profit and operating income for April using absorption costing. Item Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Amount ($) 120,000 30,000 20,000 Variable Selling and Administrative Costs 15,000 Fixed Selling and Administrative Costs 5,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Circetrax, Inc. has provided the following financial information for the year: Finished Goods Inventory: Beginning balance, in units Units produced Units sold Ending balance, in units Production costs: Variable manufacturing costs per unit Total fixed manufacturing costs What is the unit product cost for the year using absorption costing? OA. $117 630 1,400 1,500 530 $50 $42,000 W
Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc. manufactured 25,400 hats, of which 23,600 were sold. Operating data for the month are summarized as follows: Sales $179,360 Manufacturing costs: Direct materials $109,220 Direct labor 27,940 Variable manufacturing cost 12,700 Fixed manufacturing cost 12,700 162,560 Selling and administrative expenses: Variable $9,440 Fixed 6,890 16,330 During August, Head Gear Inc. manufactured 21,800 hats and sold 23,600 hats. Operating data for August are summarized as follows: Sales $179,360 Manufacturing costs: Direct materials $93,740 Direct labor 23,980 Variable manufacturing cost 10,900 Fixed manufacturing cost 12,700 141,320 Selling and administrative expenses: Variable $9,440 Fixed 6,890 16,330 Required: 1a. Prepare income statement for July using the absorption costing concept. Head Gear Inc. Absorption Costing Income Statement For the Month Ended…
Morwenna, Inc. reports the following information for August: Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Variable Selling and Administrative Costs Fixed Selling and Administrative Costs $900,000 150,000 60,000 100,000 60,000 Calculate the operating income for August using absorption costing. OA. $1,060,000 O B. $370,000 OC. $530,000 D. $250,000
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