Zhender Inc. manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2018 and 2019 was 3,000 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 2018 2019 Units sold 2,500 3,200 Units produced 3,000 3,000 Costs: Variable factory overhead per unit $ 0.65 $ 0.65 Fixed factory overhead $ 1,290 $ 1,290 Variable marketing per unit $ 0.80 $ 0.80 Fixed Selling and Administrative $ 650 $ 650 Full costing operating income for 2018 is calculated to be:

Zhender Inc. manufactures hair brushes that sell at wholesale for $2.60 per unit. Budgeted production in both 2018 and 2019 was 3,000 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 2018 2019 Units sold 2,500 3,200 Units produced 3,000 3,000 Costs: Variable factory overhead per unit $ 0.65 $ 0.65 Fixed factory overhead $ 1,290 $ 1,290 Variable marketing per unit $ 0.80 $ 0.80 Fixed Selling and Administrative $ 650 $ 650 Full costing operating income for 2018 is calculated to be:

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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QUESTION God’s Will Ent., GWT, started its business in 2021. The following information was available for January to March 31, 2021 for the company that started to produce a single product: GHȻSelling price per unit 200Direct materials per unit 40Direct Labour per unit 20Fixed factory overhead per month 60,000 Variable factory overhead per unit 10Fixed selling overheads…
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Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 7,100 hours. Variable costs: Indirect factory wages Power and light Indirect materials $24,140 13,490 10,650 $48,280 Total variable cost Fixed costs: Supervisory salaries $13,060 Depreciation of plant and equipment 33,510 Insurance and property taxes 10,230 Total fixed cost 56,800 Total factory overhead cost $56,800 During October, the department operated at 7,500 standard hours, and the factory overhead costs incurred were indirect factory wages, $25,760; power and light, $13,990; indirect materials, $11,500; supervisory salaries, $13,060; depreciation of plant and equipment, $33,510; and insurance and property taxes, $10,230. Required: Prepare a factory overhead cost variance report for October. To be useful for cost…
The Winter Products Division of American Sports Corporation produces and markets two products for use in the snow: Sleds and Saucers. The following data were gathered on activities for June 2018: Sleds Saucers Sales in units 5,000 3,000 Selling price per unit $50 $20 Variable costs per unit $22 $9 Traceable fixed costs per month* $14,000 $36,000 Fixed common costs per month** $112,000 *Supervision cost 20%, Depreciation 40%, Operating Fixed Cost 40% **Fixed commons costs are allocated to each product If Saucer product is discontinued, supervision cost and 75% of operating fixed cost for Saucer products can be saved every month. Selling price and variable cost will remain same. Based on the information above information, please fill in the following blanks. (All answer should be numeric, number format: no comma, two decimal places 1234.56, NO $ sign before) Contribution Margin Lost if Saucer Product is discontinued: Fixed Cost Avoided:
This document contains ink, shapes an... PROBLEM 4 Ping Corporation is preparing its factory overhead cost budget for the third quarter of 2020. The management plans to produce 200,000 units for the said quarter. Past experience has shown that the company's product is produced at the rate of 4 units per hour. Variable rates per direct labor hour are as follows: Indirect materials and P 0.76 supplies Power 1.36 Repairs and maintenance 2.80 Other variable overhead 0.96 Total P 5.88 Total fixed overhead costs is budgeted at P147,200. For product costing purposes, a fixed factory overhead rate of P3.20 per direct labor hour has been established. 16. How much is the total budgeted factory overhead for the quarter? 17. How much isthe total factory overhead cost per unit of product? 18. How much is the expected capacity variance?
Cap Incorporated manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2021 and 2022 was 13,000 units. There was no beginning inventory in 2021. The following data summarized the 2021 and 2022 operations: 2021 2022 Units sold 11,500 12,000 Units produced 13,000 13,000 Costs: Variable factory overhead per unit $ 0.15 $ 0.15 Fixed factory overhead $ 2,600 $ 2,600 Variable marketing per unit $ 0.30 $ 0.30 Fixed Selling and Administrative $ 320 $ 320 Full costing operating income for 2022 is calculated to be: (Do not round intermediate calculations. Round your final answers to whole dollar amounts.) Multiple Choice $1,480. $214. $2,150. $1,700. $1,518.
Ocean Sails manufactures sailing boats in two models: the Wave Rider and the Stress Killer. The company currently uses a variable costing system for internal reporting purposes. Its budgeted profit statement for the year ended 31 March 2021 is provided in the following table: Wave Rider (£) Stress Killer (£) Total (£) Sales revenues 52,500,000 105,000,000 157,500,000 Variable cost of goods sold 39,343,750 79,800,000 119,143,750 Variable marketing & admin costs 6,300,000 12,600,000 18,900,000 Contribution margin 6,856,250 12,600,000 19,456,250 Fixed manufacturing overhead 3,500,000 Fixed marketing & admin costs 16,000,000 Profit (Loss) (43,750) The following information from the budget is also available: Wave Rider Stress Killer (Units) (Units) Opening inventory 5 8 Units produced 20 25 Closing inventory 15 5 Units…
The following data are available for ABC Repair Shop purchasing and materials management for 2016: Purchasing manager wages $ 200,000 Fringe benefits 50,000 Overhead 80,000 Budgeted Material purchases $300,000 The desired profit margin is $10 per labour hour. It is estimated that 4,000 labour hours will be worked in 2016. The company wants to make a 15% profit on material purchases. Calculate the material loading rate.
Preparing an Ending Finished Goods Inventory Budget Andrews Company manufactures a line of office chairs. Each chair takes $14 of direct materials and uses 1.9 direct labor hours at $18 per direct labor hour. The variable overhead rate is $1.00 per direct labor hour, and the fixed overhead rate is $1.70 per direct labor hour. Andrews expects to have 670 chairs in ending inventory. There is no beginning inventory of office chairs. Required: 1. Calculate the unit product cost. Round your answer to the nearest cent.$fill in the blank 1 2. Calculate the cost of budgeted ending inventory. Round your answer to the nearest dollar.$fill in the blank 2

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bartleby, a Learneo, Inc. business

	2018	2019
Units sold		2,500		3,200
Units produced		3,000		3,000
Costs:
Variable factory overhead per unit	$	0.65	$	0.65
Fixed factory overhead	$	1,290	$	1,290
Variable marketing per unit	$	0.80	$	0.80
Fixed Selling and Administrative	$	650	$	650