Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 44,000 units during the month with the following unit costs: Direct materials $5.80 Direct labor 3.80 Variable overhead 1.90 Fixed overhead* 7.80 Variable marketing cost 1.60 * Fixed overhead per unit = $343,200 / 44,000 units produced = $7.80 Total fixed factory overhead is $343,200 per month. During October, 42,900 units were sold at a price of $27, and fixed marketing and administrative expenses were $110,900. Required: Question Content Area 1. Calculate the cost of each unit using variable costing. Round your final answer to the nearest cent. $fill in the blank 4d8e7ff35fc6014_1 per unit 2. How many units remain in ending inventory? fill in the blank 4d8e7ff35fc6014_2 units What is the cost of ending inventory using variable costing? $fill in the blank 4d8e7ff35fc6014_3 Question Content Area 3. Prepare a variable-costing income statement for Pattison Products, Inc., for the month of October. Pattison Products, Inc.Variable-Costing Income StatementFor the Month of October $- Select - Less: - Select - - Select - Contribution margin $fill in the blank 18475cfecfc0fcb_7 Less: - Select - - Select - Operating income $fill in the blank 18475cfecfc0fcb_12 Question Content Area 4. What if November production was 44,000 units, costs were stable, and sales were 45,000 units? What is the cost of ending inventory? If an amount is zero, enter "0". $fill in the blank 304ec90c5047025_1 What is operating income for November?
Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 44,000 units during the month with the following unit costs: Direct materials $5.80 Direct labor 3.80 Variable overhead 1.90 Fixed overhead* 7.80 Variable marketing cost 1.60 * Fixed overhead per unit = $343,200 / 44,000 units produced = $7.80 Total fixed factory overhead is $343,200 per month. During October, 42,900 units were sold at a price of $27, and fixed marketing and administrative expenses were $110,900. Required: Question Content Area 1. Calculate the cost of each unit using variable costing. Round your final answer to the nearest cent. $fill in the blank 4d8e7ff35fc6014_1 per unit 2. How many units remain in ending inventory? fill in the blank 4d8e7ff35fc6014_2 units What is the cost of ending inventory using variable costing? $fill in the blank 4d8e7ff35fc6014_3 Question Content Area 3. Prepare a variable-costing income statement for Pattison Products, Inc., for the month of October. Pattison Products, Inc.Variable-Costing Income StatementFor the Month of October $- Select - Less: - Select - - Select - Contribution margin $fill in the blank 18475cfecfc0fcb_7 Less: - Select - - Select - Operating income $fill in the blank 18475cfecfc0fcb_12 Question Content Area 4. What if November production was 44,000 units, costs were stable, and sales were 45,000 units? What is the cost of ending inventory? If an amount is zero, enter "0". $fill in the blank 304ec90c5047025_1 What is operating income for November?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Variable Costing, Value of Ending Inventory, Operating Income
Pattison Products, Inc., began operations in October and manufactured 44,000 units during the month with the following unit costs:
| Direct materials | $5.80 |
| Direct labor | 3.80 |
| Variable |
1.90 |
| Fixed overhead* | 7.80 |
| Variable marketing cost | 1.60 |
* Fixed overhead per unit = $343,200 / 44,000 units produced = $7.80
Total fixed factory overhead is $343,200 per month. During October, 42,900 units were sold at a price of $27, and fixed marketing and administrative expenses were $110,900.
Required:
Question Content Area
1. Calculate the cost of each unit using variable costing. Round your final answer to the nearest cent.
$fill in the blank 4d8e7ff35fc6014_1 per unit
2. How many units remain in ending inventory?
fill in the blank 4d8e7ff35fc6014_2 units
What is the cost of ending inventory using variable costing?
$fill in the blank 4d8e7ff35fc6014_3
Question Content Area
3. Prepare a variable-costing income statement for Pattison Products, Inc., for the month of October.
|
|
$- Select - |
| Less: | |
|
|
- Select - |
|
|
- Select - |
| Contribution margin | $fill in the blank 18475cfecfc0fcb_7 |
| Less: | |
|
|
- Select - |
|
|
- Select - |
| Operating income | $fill in the blank 18475cfecfc0fcb_12 |
Question Content Area
4. What if November production was 44,000 units, costs were stable, and sales were 45,000 units? What is the cost of ending inventory? If an amount is zero, enter "0".
$fill in the blank 304ec90c5047025_1
What is operating income for November?
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