1) Unit product cost
Direct material | 45 |
Direct labor | 63 |
Variable manufacturing overhead | 14 |
Unit product cost | 122 |
2) Variable costing income statement
Net sales revenue (800*250) | 200000 | |
Less: Variable costs | ||
Variable cost of goods sold (800*122) | 97600 | |
Variable selling and administrative expense (800*25) | 20000 | 117600 |
Contribution margin | 82400 | |
Fixed cost | ||
Fixed manufacturing overhead | 14800 | |
Fixed selling and administrative costs | 5000 | 19800 |
Net profit | 62600 | |
V I L as collected the following data for November (there are no beginning inventories) (Click...
Autumn, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view the data.) Data Table d your final Units produced and sold Sales price Direct materials Direct labor 750 units 400 per unit 65 per unit 63 per unit 14 per unit 12,375 per month 50 per unit 5,100 per month Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs Print Done Requirement 1. Using...
Newman, Inc. has collected the following data for November (there are no beginning inventories) (Click the icon to view the data.) Read the requirements: Requirement 1. Using absorption costing calculate the unit product cost. (Round your final answer to the nearest cent) Data Table Absorption costing Unit product cast Requirement 2. Prepare an income statement using the traditional format Newman, Inc. Income Statement (Absorption Costing) For the Month Ended November 30 Units produced and sold 700 units Sales price Direct...
Packer Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 95 Units in beginning inventory 350 Units produced 2,100 Units sold 1,720 Units in ending inventory 730 Variable cost per unit: Direct materials $ 24 Direct labor $ 21 Variable manufacturing overhead $ 1 Variable selling and administrative $ 13 Fixed costs: Fixed manufacturing overhead $ 52,500 Fixed selling and administrative $ 5,160 The company produces the same...
Data Table Units produced and sold 600 units Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 350 per unit 62 per unit 63 per unit 16 per unit 10,500 per month 10 per unit 4,450 per month Print Print [ Done] Done Salem, Inc. has collected the following data for November (there are no beginning inventories): B (Click the icon to view the data.) Read the...
Abe Company, which has only one product, has provided the following data concerning its most + recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead $156.600 Fixed selling and administrative $151,200 1. Using variable costing method, prepare the income statement for the year. Sales revenue Variable expenses Contribution margin Fixed expenses...
Pabbatti Corporation, which has only one product, has provided the following data concerning its most recent month of operations: $ 108 770 2,400 2,850 320 Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ $ $ $ 23 24 2 11 $57,600 $ 5.700 The company produces the same number...
lagan, Inc. has collected the following data. (There are no beginning inventories.) Units produced Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 700 units $110 per unit $20 per unit $11 per unit $8 per unit $17,200 per year $5 per unit $11,100 per year What is the ending balance in Finished Goods Inventory using variable costing if 400 units are sold? O A. $5,700 OB....
The following cost and revenue data relate to a company's first month of operations. Beginning inventory Units produced 43,000 38,ee0 Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (per month) $ 78 $ $565,000 $ $ 15 $ 1 $ 731,000 Required: 1. Assume that the company uses absorption costing....
Pabbatti Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ 108 770 2,400 2,850 320 $ $ $ $ 11 23 24 $57,600 $ 5,700 The company produces the same number of...
Duber Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 120 Units in beginning inventory 0 Units produced 8,900 Units sold 8,400 Units in ending inventory 500 Variable costs per unit: Direct materials $ 38 Direct labor $ 36 Variable manufacturing overhead $ 6 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $ 151,300 Fixed selling and administrative expense $ 109,200 Calculate the unit product cost under variable costing. Prepare a contribution format income statement...