The following data is for a company that produces a single product.Selling price193Units in beginning inventoryUnits produced3,0902,910Units soldVariable costs per unit:Direct materials53Direct labor592$Variable manufacturing overheadVariable selling and administrative expense1513Fixed costs:Fixed manufacturing overheadFixed selling and administrative$ 89,610$ 8,730Required:a. What is the unit product cost for the month under variable costing?b. What is the unit product cost for the month under absorption costing?c. Prepare a contribution format income statement for the month using variable costing.d. Prepare an income statement for the month using absorption costing.e. Reconcile the variable costing and absorption costing net operating incomes for the month.Complete this question by entering your answers in the tabs below.Required ARequired BRequired CRequired DRequired EWhat is the unit product cost for the month under variable costing?Cost Per UnitVariable costing< Required ARequired B > The following data is for a company that produces a single product.Selling price193Units in beginning inventoryUnits producedUnits sold3,0902,910Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrative expenseFixed costs:Fixed manufacturing overheadFixed selling and administrative5359152$13$ 89,610$ 8,730Required:a. What is the unit product cost for the month under variable costing?b. What is the unit product cost for the month under absorption costing?c. Prepare a contribution format income statement for the month using variable costing.d. Prepare an income statement for the month using absorption costing.e. Reconcile the variable costing and absorption costing net operating incomes for the month.Complete this question by entering your answers in the tabs below.Required ARequired BRequired CRequired DRequired EWhat is the unit product cost for the month under absorption costing?Cost Per UnitAbsorption costing< Required ARequired C >

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The following data is for a company that produces a single product. Selling price 193 Units in beginning inventory Units produced Units sold 3,090 2,910 Variable costs per unit: Direct materials 53 Direct labor 59 $ Variable manufacturing overhead Variable selling and administrative expense Fixed costs: 15 13 Fixed manufacturing overhead Fixed selling and administrative $ 89,610 $ 8,730 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using variable costing. %24

The following data is for a company that produces a single product. Selling price 193 Units in beginning inventory Units produced Units sold 3,090 2,910 Variable costs per unit: Direct materials 53 Direct labor 59 $ Variable manufacturing overhead Variable selling and administrative expense Fixed costs: 15 13 Fixed manufacturing overhead Fixed selling and administrative $ 89,610 $ 8,730 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using variable costing. %24

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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Nelter 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 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 $ 122 290 6,600 6,590 300 $ 42 $ 26 $ 2 $ 21 $ 151,800 $ 46,130 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. Required: a. Prepare a contribution format income statement for the month using variable costing. b. Prepare an income statement for the month using absorption costing.
A company's only product sells for $435 per unit. In its first year of operations, the company produced and sold 4,300 units and reported the following cost information. Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead Complete this question by entering your answers in the tabs below. Required A Required B Using absorption costing, compute total product cost per unit. Product cost per unit Absorption costing Total product cost per unit $ 39 per unit $430,000 per year $ 43 per unit $59 per unit $ 15 per unit $ 301,000 per year
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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 The total gross margin for the month under absorption costing is: Multiple Choice $81,900 $21,840 $128,430 $139,230 $ 144 0 3,020 2,730 290 $ 47 $21 $ 16 $9 $90,600 $35,490
The following data was prepared by the Sandhill Company. Total Variable Fixed $ 24/unit Sales price $ 78, 750 Direct materials used Direct labor $91,000 $ 110, 750 $ 13,850 $ 96.900 Manufacturing overhead $ 22,000 $ 12,600 $9,400 Selling and administrative expense 25,500 units Units manufactured 20, 800 units Beginning Finished Goods Inventory 9,000 units Ending Finished Goods Inventory Under variable costing, what is the unit product cost?
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