Need answer Xenon Manufacturing began operations in 2022. It manufactured 12,000 units of asingle product and sold 8,500 units for $185 each. The following information is for2022:DescriptionAmountDirect materials purchased $640,200Direct materials usedDirect labor costsOverhead costsSelling costsAdministrative costs$618,500$295,400$138,750$110,400$72,600There was no beginning balance in any inventory account. There were no unfinishedunits at the end of the year.Required:What was the Cost of Goods Sold (COGS) for 2022?

Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) represents the total cost…

Answered: Xenon Manufacturing began operations in…

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 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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The following cost incurred by Lucky corporation for October 2019 were as follows: Direct Materials used, P20,000 Indirect materials used, P1,000 Direct labor, P9,000 Indirect labor, P5,000 Other factory cost, P5,000 Selling expenses,P10,000 Administrative expenses, P12,000 Question: How much is the total product cost? a. P62,000 b. P50,000 c. P29,000 d. P40,000 Plz answer fast without plagiarism and don't copy answer plz
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Waterway Industries incurs the following costs to produce 10600 units of a subcomponent: Direct materials $8904Direct labor 11978Variable overhead 13356Fixed overhead 16200 An outside supplier has offered to sell Waterway the subcomponent for $2.85 a unit. If Waterway accepts the offer, by how much will net income increase (decrease)? a. $(3074)b. $(9328)c. $4028d. $20228
1)Learned Corporation has provided the following information:Cost perUnitCost per PeriodDirect materials $ 5.00Direct labor $ 4.25Variable manufacturing overhead $ 1.85Fixed manufacturing overhead $ 35,000Sales commissions $ 0.70Variable administrative expense $ 0.60Fixed selling and administrative expense $ 9100Required:a. For financial reporting purposes, what is the total amount of product costsincurred to make 7000 units?b. For financial reporting purposes, what is the total amount of period costsincurred to sell 7000 units?c. If the selling price is $23.80 per unit, what is the contribution margin per unitsold? (Round your answer to 2 decimal places.)d. If 8000 units are produced, what is the total amount of direct manufacturingcost incurred?e. If 8000 units are produced, what is the total amount of indirect manufacturingcosts incurred?a. Total product (manufacturing) costb. Total period (manufacturing) costc. Contribution margin per unitd. Total direct manufacturing coste. Total…
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Great Bay Company manufactures cordless telephones. During 2022, total costs associated with manufacturing 18,500 of the AB- 2000 model (introduced this year) were as follows: Raw materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead $195,175 115,625 85,100 114,700 Required: a. Calculate the cost per phone under both direct (or variable) costing and absorption costing. b. If 2,800 of these phones were in finished goods inventory at the end of 2022, by how much and in what direction (higher or lower) would 2022 operating income be different under direct (or variable) costing than under absorption costing? c. Express the phone cost in a cost formula. What does this formula suggest the total cost of making an additional 1,600 phones would be? Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the cost per phone under both direct (or variable) costing and absorption costing. (Round your direct and…
Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,210 Factory utilities $440 Direct materials used 22,640 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,580 Direct labor 42,090 Work in process, 6/30/20 3,980 Maintenance, factory equipment 1,810 Finished goods, 6/1/20 5,230 Indirect materials 2,670 Finished goods, 6/30/20 8,520 Factory manager’s salary 3,910 Prepare an income statement through gross profit for June 2020 assuming sales revenue is $87,710. CEPEDA CORPORATIONIncome Statement (Partial)choose the accounting period select an income statement item $enter a dollar amount select an opening name for section two select an income…
Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,210 Factory utilities $440 Direct materials used 22,640 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,580 Direct labor 42,090 Work in process, 6/30/20 3,980 Maintenance, factory equipment 1,810 Finished goods, 6/1/20 5,230 Indirect materials 2,670 Finished goods, 6/30/20 8,520 Factory manager’s salary 3,910 (a) Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATIONCost of Goods Manufactured Schedulechoose the accounting period select an item $enter a dollar amount select a name for subsection one $enter a dollar amount select a name…

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