The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered. Thecost per game and Income Statement under absorption and variable costing need to be determined.

Question

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Answer 1

Question

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

To determine

Requirement 3:

To show: comparison of income calculation under both methods

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

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Alanood Company wants to prepare interim financial statements for the first quarter of 2020 but would like to avoid making a physical count of inventory. During the last five years the company's gross profit rate averaged 36%. The following information for the years first quarter is available from its records: January 1 beginning inventory $150,130 Purchases $472,600 Purchase returns $6,525 Transportation in $3,450 Sales $595,575 Sales returns $4,725 Use the gross profit method to prepare an estimate of the company's March 31 inventory.

Please solve this general accounting question

Answer 2

Question

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

To determine

Requirement 3:

To show: comparison of income calculation under both methods

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

Expert Solution & Answer

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Answer 3

Question

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

To determine

Requirement 3:

To show: comparison of income calculation under both methods

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

Expert Solution & Answer

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Answer 4

Question

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

To determine

Requirement 3:

To show: comparison of income calculation under both methods

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

Expert Solution & Answer

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Answer 5

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

To determine

Requirement 3:

To show: comparison of income calculation under both methods

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

Answer 6

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

Answer 7

Chapter 21, Problem P21A.60APGA

To determine

The Unit cost under Absorption and variable costing is different in the sense that the in Absorption costing all the manufacturing cost whether Variable and fixed are taken in to consideration, while under variable costing only variable manufacturing cost elements are considered.

Thecost per game and Income Statement under absorption and variable costing need to be determined.

Answer 8

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

Answer 9

To determine

Requirement 1:

The Product cost per game under Absorption costing and variable costing

Answer 10

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

Answer 11

To determine

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

Answer 12

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

Answer 13

To determine

Requirement 2a:

To prepare: The monthly Income statement using variable costing

Answer 14

To determine

Requirement 3:

To show: comparison of income calculation under both methods

Answer 15

To determine

Requirement 3:

To show: comparison of income calculation under both methods

Answer 16

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

Answer 17

To determine

Requirement 4:

The inventory balance at the end of October and November under absorption costing

Answer 18

Expert Solution & Answer

Answer 19

Expert Solution & Answer

Answer 20

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Answer 21

Ch. 21 - For Frank’s Funky Sounds, straight-line...Ch. 21 - Prob. 2QC Ch. 21 - Prob. 3QC Ch. 21 - Prob. 4QC Ch. 21 - Prob. 5QC Ch. 21 - On a CVP graph, the total cost line intersects the...Ch. 21 - If a company increases its sales price per unit...Ch. 21 - Prob. 8QC Ch. 21 - Prob. 9QC Ch. 21 - Prob. 10QC

Requirement 1: The Product cost per game under Absorption costing and variable costing

Requirement 2a: To prepare: The monthly Income statement using absorption costing

Requirement 2a: To prepare: The monthly Income statement using variable costing

Requirement 3: To show: comparison of income calculation under both methods

Requirement 4: The inventory balance at the end of October and November under absorption costing

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Chapter 21 Solutions

Requirement 1:

The Product cost per game under Absorption costing and variable costing

Requirement 2a:

To prepare: The monthly Income statement using absorption costing

Requirement 2a:

To prepare: The monthly Income statement using variable costing

Requirement 3:

To show: comparison of income calculation under both methods

Requirement 4:

The inventory balance at the end of October and November under absorption costing