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Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $583,200. There was no ending work-in-process inventory. Total costs were $573,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $230,000 200,000 143,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were produced, of which 9,500 were sold. Data concerning last year's operations appear here in New Taiwanese dollars, NTS): Revenue NT$ 33,820 Variable direct materials costs 2,247 Variable direct labour costs 3,638 Variable manufacturing overhead 2,782 Variable selling 950 Fixed manufacturing overhead 8,300 Fixed selling and administrative costs 14,858 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were produced, of which 9,400 were sold. Data concerning last year's operations appear here (in New Taiwanese dollars, NT$): Revenue Variable direct materials costs Variable direct labour costs Variable manufacturing overhead Variable selling Fixed manufacturing overhead Fixed selling and administrative costs NT$ 32,900 2,300 3,300 2,800 940 8,250 14,560 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following...
In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 290 units at $4, (2) 390 units at $6, and (3) 490 units at $7. Assuming there are 190 units on hand at the end of the period Your answer is incorrect. Try again. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost . SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL XYour answer is...
Thank you. Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales...
Thank you.
Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales price Direct materials used Direct labor Manufacturing overhead Selling and administrative expense Units manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory 59.100 $12.800 $90,000 59.100 $98.000 $99.100 $21,400 18.000 units 20 200 units 23,100 units Under absorption costing, what is the unit product cost? (Round answer to 2 dec. Unit product cost LINK TO TEXT LINK TO TEXT LINK TO Under variable costing,...
Exercise 5-11 to Exercise 5-18 Tri Town Manufacturing produces snow shovels. The selling price per snow...
Exercise 5-11 to Exercise 5-18
Tri Town Manufacturing produces snow shovels. The selling price per
snow shovel is $28.00. There is no beginning inventory.
Costs involved in production are:
Direct material
$6.00
Direct labor
4.00
Variable manufacturing overhead
4.00
Total variable manufacturing costs per unit
$14.00
Fixed manufacturing overhead per year
$196,560
In addition, the company has fixed selling and administrative costs
of $170,900 per year.
During the year, Tri Town produces 50,400 snow shovels and sells
45,390 snow shovels....
Skysong Company uses a job costing system. Overhead is allocated based on 120% of direct labour...
Skysong Company uses a job costing system. Overhead is allocated based on 120% of direct labour cost. Last month's transactions in the work-in-process account are shown here: Work in Process $46,100 162,500 To finished goods 113,300 151,700 Beginning balance Direct materials Direct labour Factory overhead $446,400 Only one job, #850, was still in process at the end of the month. Job 850 was charged with $9,600 in overhead for the month. What is the ending balance in the WIP account?...
Candle Enterprises provided the below information for this year (its first year of operations). 15 per...
Candle Enterprises provided the below information for this year (its first year of operations). 15 per unit 16 per unit Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 4 per unit $160,000 per year 20,000 units 14,000 units 6,000 units 1. Compute the product cost per unit using variable costing. Cost per unit of finished goods using: Variable costing + Cost...
Exercise 6-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the...
Exercise 6-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. Direct materials used Direct labor incurred Variable manufacturing overhead Fixed manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses $93,500 $30,000 $20,500 $48,000 $72,000 $9,000 There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory. What would...
In its first month of operations, Sandhill Co. made three purchases of merchandise in the following...
In its first month of operations, Sandhill Co. made three
purchases of merchandise in the following sequence: 200 units at
$15; 250 units at $14; and 300 units at $13. There are 490 units on
hand at the end of the period. Sandhill uses a periodic inventory
system.
Calculate the cost of the ending inventory and cost of goods sold under FIFO. FIFO Ending inventory " Cost of goods sold " Calculate the cost of the ending inventory and cost...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $583,200. There was no ending work-in-process inventory. Total costs were $573,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $230,000 200,000 143,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were produced, of which 9,500 were sold. Data concerning last year's operations appear here in New Taiwanese dollars, NTS): Revenue NT$ 33,820 Variable direct materials costs 2,247 Variable direct labour costs 3,638 Variable manufacturing overhead 2,782 Variable selling 950 Fixed manufacturing overhead 8,300 Fixed selling and administrative costs 14,858 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were produced, of which 9,400 were sold. Data concerning last year's operations appear here (in New Taiwanese dollars, NT$): Revenue Variable direct materials costs Variable direct labour costs Variable manufacturing overhead Variable selling Fixed manufacturing overhead Fixed selling and administrative costs NT$ 32,900 2,300 3,300 2,800 940 8,250 14,560 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1) 290 units at $4, (2) 390 units at $6, and (3) 490 units at $7. Assuming there are 190 units on hand at the end of the period Your answer is incorrect. Try again. Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Average unit cost . SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL XYour answer is...
Thank you.
Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales price Direct materials used Direct labor Manufacturing overhead Selling and administrative expense Units manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory 59.100 $12.800 $90,000 59.100 $98.000 $99.100 $21,400 18.000 units 20 200 units 23,100 units Under absorption costing, what is the unit product cost? (Round answer to 2 dec. Unit product cost LINK TO TEXT LINK TO TEXT LINK TO Under variable costing,...
Exercise 5-11 to Exercise 5-18
Tri Town Manufacturing produces snow shovels. The selling price per
snow shovel is $28.00. There is no beginning inventory.
Costs involved in production are:
Direct material
$6.00
Direct labor
4.00
Variable manufacturing overhead
4.00
Total variable manufacturing costs per unit
$14.00
Fixed manufacturing overhead per year
$196,560
In addition, the company has fixed selling and administrative costs
of $170,900 per year.
During the year, Tri Town produces 50,400 snow shovels and sells
45,390 snow shovels....
Skysong Company uses a job costing system. Overhead is allocated based on 120% of direct labour cost. Last month's transactions in the work-in-process account are shown here: Work in Process $46,100 162,500 To finished goods 113,300 151,700 Beginning balance Direct materials Direct labour Factory overhead $446,400 Only one job, #850, was still in process at the end of the month. Job 850 was charged with $9,600 in overhead for the month. What is the ending balance in the WIP account?...
Candle Enterprises provided the below information for this year (its first year of operations). 15 per unit 16 per unit Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 4 per unit $160,000 per year 20,000 units 14,000 units 6,000 units 1. Compute the product cost per unit using variable costing. Cost per unit of finished goods using: Variable costing + Cost...
Exercise 6-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. Direct materials used Direct labor incurred Variable manufacturing overhead Fixed manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses $93,500 $30,000 $20,500 $48,000 $72,000 $9,000 There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory. What would...
In its first month of operations, Sandhill Co. made three
purchases of merchandise in the following sequence: 200 units at
$15; 250 units at $14; and 300 units at $13. There are 490 units on
hand at the end of the period. Sandhill uses a periodic inventory
system.
Calculate the cost of the ending inventory and cost of goods sold under FIFO. FIFO Ending inventory " Cost of goods sold " Calculate the cost of the ending inventory and cost...
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