Solution 1a:
Computation of Unit Product Cost - Absorption Costing | |
Direct material | $18 |
Direct Labor | $9 |
Variable manufacturing overhead | $4 |
Fixed manufacturing overhead ($624000/39000) | $16 |
Unit product cost | $47 |
Solution 1b:
High Country Inc. | ||
Income Statement - Absorption Costing | ||
Sales (34000*$78) | $26,52,000 | |
Less: Cost of Goods sold (34000*$47) | $15,98,000 | |
Gross Profit | $10,54,000 | |
Less: Selling and admin. Expenses | ||
Variable Selling and administrative expenses (34000*$3) | $1,02,000 | |
Fixed Selling & Administrative Expenses | $5,59,000 | |
$6,61,000 | ||
Net Operating Income | $3,93,000 |
Solution 2a:
Computation of Unit Product Cost - Variable Costing | |
Direct material | $18.00 |
Direct Labor | $9.00 |
Variable manufacturing overhead | $4.00 |
Unit product cost | $31.00 |
Solution 2b:
High Country Inc. | ||
Income Statement - Variable Costing | ||
Sales (34000*$78) | $26,52,000 | |
Variable Costs: | ||
Variable manufacturing Costs (34000*$31) | $10,54,000 | |
Variable Selling and administrative expenses (34000*$3) | $1,02,000 | |
Total Variable Costs | $11,56,000 | |
Contribution Margin | $14,96,000 | |
Fixed Expenses: | ||
Fixed manufacturing overhead | $6,24,000 | |
Fixed Selling & Administrative Expenses | $5,59,000 | |
Total Fixed costs | $11,83,000 | |
Net Operating Income | $3,13,000 |
Problem 7-20 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in...
Problem 7-20 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation: Beginning inventory 0 Units produced 48,000 Units sold 43,000 Selling price per unit $...
Problem 6-20 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income [LO6-1, LO6-2, LO6-3] High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation: Beginning inventory 0 Units produced 45,000 Units sold 40,000 Selling price...
Problem 6-20 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income (LO6-1, LO6-2, LO6-3) High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 35,000 30,000 82 Beginning inventory Units produced Units sold Selling price...
Ch 7 HW Problem 7-20 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income (L07-1, L07-2, L07-3] 3.75 High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 10,000 Beginning inventory Units produced Unita sold...
Thanks for the help and your time!! Problem 6-20 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income (L06-1, L06-2, L06-3] High Country. Inc.. produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 35,000 30,000 Beginning inventory...
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 43,000 38,000 77 Beginning inventory Units produced 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...
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable Fixed (per month ) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing...
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 43,000 38,000 ܘ لما ها ܩ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit...
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 42,000 37,000 75 A Beginning inventory Units produced 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...
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: 49,000 44.000 76 Beginning inventory Units produced 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...