Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrativeFixed costs:Fixed manufacturing overheadFixed selling and administrative$51$46$8$5$560,000$173,800What is the total period cost for the month under variable costing? 6pints00:28:56A manufacturing company that produces a single product has provided the followingdata concerning its most recent month of operations:Selling priceUnits in beginning inventoryUnits producedUnits soldUnits in ending inventoryVariable costs per unit:Direct materials$16010016,00015,800300$51

Name: Variable costs per unit:Direct materialsDirect laborVariable manufact
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrativeFixed costs:Fixed manufacturing overheadFixed selling and administrative$51$46$8$5$560,000$173,800What is the total period cost for

Answer:- Variable costing method:- Variable costing is basically a costing method where the business…

Business

Accounting

Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $51 $46 $8 $5 $560,000 $173,800 What is the total period cost for the month under variable costing?

Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $51 $46 $8 $5 $560,000 $173,800 What is the total period cost for the month under variable costing?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units produced Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1,000 $50 $47 $2 $8 $31,000 $69,000 There was no beginning or ending inventories. What is the unit product cost under variable costing?
Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits Required: Prepare a profit variance analysis for Fournier Fixtures actual orders for 414,400 units) $ 7,873,600 for 370,000 units) $ 7,400,000 2,646,400 238,000 1,218,400 876,000 $ 4,978,800 $ 2,894,800 1,632,000 556,600 372,000 $ 2,560,600 $ 334,200 2,350,000 218,000 1,082,000 786,000 $ 4,436,000 $ 2,964,000 1,660,000 540,000 405,000 $ 2,605,000 $ 359,000 Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Variable costs: Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs: Manufacturing overhead Marketing…
Please do not give solution in image format thanku
For each variable cost per unit listed below, determine the total variable cost when units produced and sold are 40, 80, and 160 units. Direct materials $ 35 Direct labor 55 Variable overhead Sales commission 11 12 Begin by calculating the total variable cost for each variable cost per unit listed, and the total variable cost when sales are 40 units. Then calculate the total variable cost when sales are 80 and 160 units, respectively Variable cost per unit Variable Cost at 40 Units Direct materials Direct labor Variable overhead $ 35 55 11 Sales commission 12 Total variable cost
Urban Company reports the following information regarding its production cost: Units produced Direct labor Direct materials Variable overhead Fixed overhead Compute product cost per unit under variable costing. Multiple Choice O $24.00 $47.46 $54.00 26,000 units $ 19 per unit $ 24 per unit $ 11 per unit $ 116,000 in total $19.00
Please do not give solution in image format thanku
Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (4,000 units) $2,600,000 Production costs (4,350 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Selling and administrative expenses: Variable selling and administrative expenses Fixed selling and administrative expenses Sales a. Prepare an income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 $ 2,600,000 Cost of goods sold Gross profit 1,800,000 $1,218,000 522,000 87,000 130,500 1,957,500 $ 800,000 $60,000 25,000 85,000
1. What was Product J's unit cost under cost absorption costing? 2. What was Product J's unit cost under variable costing?
Variable Costing Lindquist Company has the following information for February: Sales $690,000 Variable cost of goods sold 324,300 Fixed manufacturing costs 117,300 Variable selling and administrative expenses 62,100 Fixed selling and administrative expenses 41,400 Determine the following for Lindquist Company for the month of February: a. Manufacturing margin b. Contribution margin c. Operating income 365,700
Haresh
Ace Company is a manufacturer of basketballs and began operations this year. The company produced 4,300 units and sold 3,750 units. Each basketball was sold at a price of $46. Fixed overhead costs are $53,000 per year, and fixed selling and administrative costs are $46,600 per year. The company also reports the following per unit variable costs for the year. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Compute income under variable costing. Multiple Choice O $105,000 $99,600 $5,400 $59,642 $ 7.00 per unit $ 5.00 per unit $ 4.00 per unit $ 2.00 per unit
ALL Acme Company, 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 $172 0 9,700 9,300 400 Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $33 $75 $21 $25 $145,500 $ 10,300