Homework Answers
| Req 1 & 2) Variable manuf. Cost per unit and Variable Income Statement: | ||||
| Units Produced | 1500 | |||
| Units Sold | 1375 | |||
| Per Unit $ | Amounts $ | |||
| Sales | 30 | 41250 | ||
| Less:Variable costs: | ||||
| Dir. Mat. | 9.6 | 13200 | ||
| Dir. Lab. | 3.4 | 4675 | ||
| Variable Manuf. OH | 1.05 | 1443.75 | ||
| Variable Sel&Ad Exp. | 0.4 | 550 | ||
| Total Variable costs | 14.45 | 19868.75 | ||
| Contribution | 21381.25 | |||
| Less:Fixed costs: | ||||
| Manufacturing | 16125 | |||
| Selling & Admin | 4950 | |||
| Total Fixed costs | 21075 | |||
| Net Operating Income | 306.25 | |||
| Req 3 & 4) Absorption costing manufacturing cost per unit and Income Statement: | ||||
| Units Produced | 1500 | |||
| Units Sold | 1375 | |||
| Per Unit $ | Amounts $ | |||
| Sales | 30 | 41250 | ||
| Less:Manufacturing costs: | ||||
| Dir. Mat. | 9.6 | 13200 | ||
| Dir. Lab. | 3.4 | 4675 | ||
| Variable Manuf. OH | 1.05 | 1443.75 | ||
| Fixed Manuf. Overhead | 10.75 | 16125 | ||
| Total Manufac. Costs | 24.8 | 35443.75 | ||
| Less:Fix Manuf. To Cl. St. | -1343.75 | 16125*125/1500 | ||
| COGS | 34100 | |||
| Gross Profit | 7150 | |||
| Less: Sell & Admin exp.: | ||||
| Variable costs | 550 | |||
| Fixed costs | 4950 | |||
| Total Sell & Admin exp. | 5500 | |||
| Net Operating Income | 1650 | |||
| Req 6) Difference in profit between variable costing and full absorption | ||||
| costing is 1343.75*100/125 = 1075. The NOI under Variable costing would | ||||
| higher by $1075 to Absorption costing. | ||||
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PA5-6 (Static) Comparing Full Absorption and Variable Costing [LO 5S-1) Dance Creations manufactures authentic Hawaiian hula...
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Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
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Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
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Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skir Direct materials $ 9.60 Direct labor 3.40 33 Variable manufacturing overhead 1.05 Variable selling and administrative expenses 0.40 Fixed Cost per Month Fixed manufacturing overhead $ 16,125 Fixed selling and administrative expenses 4,950 Dance Creations charges $30 for each skirt that it sells. During...
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