Homework Answers
Answer is $ 30
We do not include selling and distribution cost in product cost .
And under absorption costing we include fixed manufacturing overheads in the cost of product.
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Consider the following information: Number of units produced 2,000 units Direct materials cost : $8 per...
Full capacity in units Current capacity in units Direct materials cost per unit Direct materials cost...
Full capacity in units Current capacity in units Direct materials cost per unit Direct materials cost per unit Manufacturing overhead per unit (variable) Total manufacturing overhead (Fixed) Total selling expenses Total general and administrative expenses Normal selling price per unit 200,000 150,000 $6.00 $4.00 $2.00 $300,000 $100,000 $200,000 $40.00 Using the information shown above, provide the cost formula. If a company produces 10,000 units and sells 8,000 units during the period, which method of computing operating income (absorption or variable)...
Pedregon Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $...
Pedregon Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 7.35 Direct labor $ 4.30 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 26,000 Sales commissions $ 0.80 Variable administrative expense $ 0.90 Fixed selling and administrative expense $ 6,000 If 6,500 units are produced, the total amount of manufacturing overhead cost is closest to:
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using variable costing.
Selling price $130 (same information as on page 6) Units in beginning inventory Units produced Units...
Selling price $130 (same information as on page 6) Units in beginning inventory Units produced Units sold Units in ending inventory 6,100 6,000 100 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead $25 Variable selling and administrative S10 S33 530 Fixed costs: Fixed manufacturing overhead$91,500 Fixed selling and administrative $98,000 f. What is the net operating income for the month under absorption costing? i. Reconcile and explain any difference in the net income under the two different...
Shore Company reports the following information regarding its production cost. Units produced 36,000 units Direct labor...
Shore Company reports the following information regarding its production cost. Units produced 36,000 units Direct labor $ 31 per unit Direct materials $ 32 per unit Variable overhead $ 10 per unit Fixed overhead $ 102,920 in total Compute product cost per unit under absorption costing.
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using absorntion costing
Bracey Company manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 28 Fixed costs...
Bracey Company manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 28 Fixed costs per year: Direct labor $ 367,500 Fixed manufacturing overhead $ 389,550 Fixed selling and administrative expenses $ 66,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 24,500 units and sold 22,700 units. The selling price of...
Units produced Sale price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling...
Units produced Sale price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 3,500 units 200 per unit 70 per unit 55 per unit 20 per unit $350,000 per year $ 30 per unit $150,000 per year Calculate the unit product cost using absorption costing. Multiple Choice $245 $275
Hayes Inc. provided the following information for the current year: Beginning inventory Units produced Units sold...
Hayes Inc. provided the following information for the current year: Beginning inventory Units produced Units sold Selling price Direct materials Direct labor manufacturing overhead Fixed manufacturing overhead Variable selling/administrative costs Fixed selling/administrative costs 230 units 880 units 934 units 280/unit $ 48/unit $ 29/unit $ 28/unit $39,600/year $ 21/unit $28,500/year What is the unit product cost for the year using absorption costing?
Assume that a company produced 10,000 units and sold 8,000 units during its first year of...
Assume that a company produced 10,000 units and sold 8,000 units during its first year of operations. It has also provided the following information: Per Year Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Fixed selling and administrative expense Per Unit $240 $ 85 $ 60 $ 10 $ 11 $ 2 $ 250,000 If the company's unit product cost under absorption costing is $194, then what is the amount of fixed manufacturing overhead...
Full capacity in units Current capacity in units Direct materials cost per unit Direct materials cost per unit Manufacturing overhead per unit (variable) Total manufacturing overhead (Fixed) Total selling expenses Total general and administrative expenses Normal selling price per unit 200,000 150,000 $6.00 $4.00 $2.00 $300,000 $100,000 $200,000 $40.00 Using the information shown above, provide the cost formula. If a company produces 10,000 units and sells 8,000 units during the period, which method of computing operating income (absorption or variable)...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using variable costing.
Selling price $130 (same information as on page 6) Units in beginning inventory Units produced Units sold Units in ending inventory 6,100 6,000 100 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead $25 Variable selling and administrative S10 S33 530 Fixed costs: Fixed manufacturing overhead$91,500 Fixed selling and administrative $98,000 f. What is the net operating income for the month under absorption costing? i. Reconcile and explain any difference in the net income under the two different...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using absorntion costing
Units produced Sale price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 3,500 units 200 per unit 70 per unit 55 per unit 20 per unit $350,000 per year $ 30 per unit $150,000 per year Calculate the unit product cost using absorption costing. Multiple Choice $245 $275
Hayes Inc. provided the following information for the current year: Beginning inventory Units produced Units sold Selling price Direct materials Direct labor manufacturing overhead Fixed manufacturing overhead Variable selling/administrative costs Fixed selling/administrative costs 230 units 880 units 934 units 280/unit $ 48/unit $ 29/unit $ 28/unit $39,600/year $ 21/unit $28,500/year What is the unit product cost for the year using absorption costing?
Assume that a company produced 10,000 units and sold 8,000 units during its first year of operations. It has also provided the following information: Per Year Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Fixed selling and administrative expense Per Unit $240 $ 85 $ 60 $ 10 $ 11 $ 2 $ 250,000 If the company's unit product cost under absorption costing is $194, then what is the amount of fixed manufacturing overhead...
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