MANAG.ACCOUNTING-CONNECT ACCESS >CUSTOM<
17th Edition
ISBN: 9781266862434
Author: Garrison
Publisher: MCG CUSTOM
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Textbook Question
Chapter 6, Problem 1AE
| A | B | C | D | E | |
| 1 | Chapter 6: Applying Excel | ||||
| 2 | |||||
| 3 | Data | ||||
| 4 | Selling price per unit | $50 | |||
| 5 | |||||
| 6 | Variable per unit produced | ||||
| 7 | Direct materials | $11 | |||
| 8 | Direct labour | ||||
| 9 | Variable manufacturing |
$6 | |||
| 10 | Fixed manufacturing overhead per year | $120,000 | |||
| 11 | Selling and administrative expenses | ||||
| 12 | Variable per unit sold | $4 | |||
| 13 | Fixed per year | $70 000 | |||
| 14 | |||||
| 15 | Year 1 | Year 2 | |||
| 16 | Units in beginning inventory | 0 | ? | ||
| 17 | Units produced doing the year | 10 000 | 6 000 | ||
| 18 | Units sold doing the year | 8 000 | 8 000 | ||
| 19 | |||||
| 20 | Enter a formula into each of the cells marked with a ? below |
||||
| 21 | Review Problem 1: Contrasting Variable and Absorption Costing | ||||
| 22 | |||||
| 23 | Compute the Ending Inventory | ||||
| 24 | Year 1 | Year 2 | |||
| 25 | Units in beginning inventory | 0 | ? | ||
| 26 | Units produced doing the year | ? | ? | ||
| 27 | Units sold doing the year | ? | ? | ||
| 28 | Units in ending inventory | ? | ? | ||
| 29 | |||||
| 30 | Compute the Absorption Costing Unit Product Cost | ||||
| 31 | Year 1 | Year 2 | |||
| 32 | Direct materials | ? | ? | ||
| 33 | Direct labour | ? | ? | ||
| 34 | Variable manufacturing overhead | ? | ? | ||
| 35 | Fixed manufacturing overhead | ? | ? | ||
| 36 | Absorption costing unit product cost | ? | ? | ||
| 37 | |||||
| 38 | Construct the Absorption Costing Income Statement | ||||
| 39 | Year 1 | Year 2 | |||
| 40 | Sales | ? | ? | ||
| 41 | Cost of goods sold | ? | ? | ||
| 42 | Gross margin | ? | ? | ||
| 43 | Selling and administrative expenses | ? | ? | ||
| 44 | Net operating income | ? | ? | ||
| 45 | |||||
| 46 | Compute the Variable Costing Unit Product Cost | ||||
| 47 | Year 1 | Year 2 | |||
| 48 | Direct materials | ? | ? | ||
| 49 | Direct labour | ? | ? | ||
| 50 | Variable manufacturing overhead | ? | ? | ||
| 51 | Variable costing unit product cost | ? | ? | ||
| 52 | |||||
| 53 | Construct the Variable Costing Income Statement | ||||
| 54 | Year 1 | Year 2 | |||
| 55 | Sales | ? | ? | ||
| 56 | Variable expenses | ||||
| 57 | Variable cost of goods sold | ? | ? | ||
| 58 | Variable selling and administrative expenses | ? | ? | ? | ? |
| 59 | Contribution margin | ? | ? | ||
| 60 | Fixed expenses | ||||
| 61 | Fixed manufacturing overhead | ? | ? | ||
| 62 | Fixed selling and administrative expenses | ? | ? | ? | ? |
| 63 | Net operating income | ? | ? | ||
You should proceed to the requirements below only after completing your worksheet. The LIFO inventory flow assumption is used throughout this problem.
Required:
1. Check your worksheet by changing the units sold in the Data to 6,000 for Year 2. The cost of goods sold under absorption costing for Year 2 should now be $24-0.000. If it isn't check cell C41. The formula in this cell should be =IF(C26
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A
1 Chapter 7: Applying Excel
2
3 Data
4 Selling price per unit
5 Manufacturing costs:
6
7
8
Variable per unit produced:
Direct materials
Direct labor
Variable manufacturing overhead
9
10 Fixed manufacturing overhead per year
11 Selling and administrative expenses:
12 Variable per unit sold
13
Fixed per year
14
15
16 Units in beginning inventory
17 Units produced during the year
18 Units sold during the year
25 Units in beginning inventory
26 Units produced during the year
27 Units sold during the year
28 Units in ending inventory
29
30 Compute the Absorption Costing Unit Product Cost
31
32 Direct materials
33 Direct labor
34 Variable manufacturing overhead
35 Fixed manufacturing overhead
36 Absorption costing unit product cost
37
19
20 Enter a formula into each of the cells marked with a ? below
21 Review Problem 1: Contrasting Variable and Absorption Costing
22
23 Compute the Ending Inventory
24
46 Compute the Variable Costing Unit Product Cost
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48 Direct materials
49 Direct labor…
Subject- account
A
1 Original Data:
2
3
4
5
6
7
8
9
10
11
12 Part 1
13
14
15
16
Estimated MOH
Estimated DLHS
28
29
B
Selling price per unit
Direct materials per unit
Direct labour per unit
Direct labour-hours per unit
Estimated annual productio
POR:
17
18 Sales
19 Less product costs
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21
22
23 Total product costs
24 Product margin
Direct materials
Direct labour
Manufacturing overhead
25 Units produced and sold:
26 Product margin per unit
27
$1,350,000
112,500
High Grade
$212.50
$83.50
$30.00
1.00
75,000
High Grade
D
Professional
$387.00
$212.00
$45.00
1.50
25,000
per DLHs
Professional
Total
Chapter 6 Solutions
MANAG.ACCOUNTING-CONNECT ACCESS >CUSTOM<
Ch. 6.A - Prob. 1ECh. 6.A - EXERCISE 6A-2 Super-Variable Costing and Variable...Ch. 6.A - Prob. 3ECh. 6.A - PROBLEM 6A-4 Super-Variable Costing and Variable...Ch. 6.A - Prob. 5PCh. 6 - Prob. 1QCh. 6 - Are selling and administrative expenses treated as...Ch. 6 - Explain how fixed manufacturing overhead costs are...Ch. 6 - What are the arguments in favor of treating fixed...Ch. 6 - What are the arguments in favor of treating fixed...
Ch. 6 - Prob. 6QCh. 6 - Prob. 7QCh. 6 - Prob. 8QCh. 6 - Under absorption costing, how is it possible to...Ch. 6 - Prob. 10QCh. 6 - Prob. 11QCh. 6 - What costs are assigned to a segment under the...Ch. 6 - Distinguish between a trace able fixed cost and a...Ch. 6 - Explain how the contribution margin differs from...Ch. 6 - Prob. 15QCh. 6 - Prob. 16QCh. 6 - Should a company allocate its common feed costs to...Ch. 6 - A B C D E 1 Chapter 6: Applying Excel 2 3 Data 4...Ch. 6 - A B C D E 1 Chapter 6: Applying Excel 2 3 Data 4...Ch. 6 - A B C D E
1 Chapter 6: Applying...Ch. 6 - Diego Company manufactures one product that is...Ch. 6 - Prob. 2F15Ch. 6 - Prob. 3F15Ch. 6 - Prob. 4F15Ch. 6 - Prob. 5F15Ch. 6 - Diego Company manufactures one product that is...Ch. 6 - Prob. 7F15Ch. 6 - Prob. 8F15Ch. 6 - Prob. 9F15Ch. 6 - Prob. 10F15Ch. 6 - Prob. 11F15Ch. 6 - Prob. 12F15Ch. 6 - Prob. 13F15Ch. 6 - Diego Company manufactures one product that is...Ch. 6 - Prob. 15F15Ch. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - EXERCISE 6-6 Variable and Absorption Costing Unit...Ch. 6 - Prob. 7ECh. 6 - Prob. 8ECh. 6 - EXERCISE 6-9 Variable and Absorption Costing Unit...Ch. 6 - Prob. 10ECh. 6 - Prob. 11ECh. 6 - Prob. 12ECh. 6 - Prob. 13ECh. 6 - Prob. 14ECh. 6 - EXERCISE 6—15 Absorption Costing Unit Product Cost...Ch. 6 - EXERCISE 6-16 Working with a Segmented Income...Ch. 6 - Prob. 17ECh. 6 - Prob. 18PCh. 6 - Prob. 19PCh. 6 - Prob. 20PCh. 6 - PROBLEM 6—21 Segment Reporting and Decision-Making...Ch. 6 - Prob. 22PCh. 6 - Prob. 23PCh. 6 - PROBLEM 6-24 Companywide and Segment Break-Even...Ch. 6 - Prob. 25PCh. 6 - Prob. 26PCh. 6 - PROBLEM 6-27 Incentives Created by Absorption...Ch. 6 - Prob. 28PCh. 6 - Prob. 29CCh. 6 - Prob. 30C
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