Homework Answers
d. $42,000 increase
Effect on income from operations if absorption costing is used rather than variable costing = 7,000 * $6.00 = $42,000 increase
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The level of inventory of a manufactured product has increased by 7,000 units during a period....
Calculator The level of inventory of a manufactured product has increased by 8,704 units during a...
Calculator The level of inventory of a manufactured product has increased by 8,704 units during a period. The following data are also available: Variable Fixed Unit manufacturing costs of the period $12.00 $3.00 Unit operating expenses of the period 1.00 4.00 The effect on operating income if absorption costing is used rather than variable costing would be a Oa. $60,928 increase Ob. $60,928 decrease Oc. $26,112 decrease Od. $26,112 increase
Calculator The level of inventory of a manufactured product has increased by 8,000 units during a...
Calculator The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also available: Variable Fixed Unit manufacturing costs of the period $24.00 $10.00 Unit operating expenses of the period 8.00 3.00 The effect on operating income if absorption costing is used rather than variable costing would be a(n) Oa. $80,000 decrease Ob. $80,000 increase Oc. $104,000 decrease Od $104,000 increase All work saved. Email Instru
Fleet, Inc., manufactured 700 units of Product A, a new product, during the year. Product A's...
Fleet, Inc., manufactured 700 units of Product A, a new product, during the year. Product A's variable and fixed manufacturing costs per unit were $6.00 and $2.00, respectively. The inventory of Product A on December 31 consisted of 100 units. There was no inventory of Product A on January 1. What would be the change in the dollar amount of inventory on December 31 if variable costing were used instead of absorption costing? [11] A. $800 decrease. O B. $200...
In absorption costing, When units manufactured > units sold, 1. then inventory 2. the change in inventory is related...
In absorption costing, When units manufactured > units sold, 1. then inventory 2. the change in inventory is related to 1. Finished goods inventory increases 2. Reduction of fixed manufacturing overhead to beginning inventory 1. Finished goods inventory decreases 2. Allocation of fixed manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of variable manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of fixed manufacturing overhead to ending inventory C QUESTION 11 If...
During its first year of operations, Bark Corporation manufactured 17,000 units of its product. Of these...
During its first year of operations, Bark Corporation manufactured 17,000 units of its product. Of these units, 11,900 were sold to customers for a selling price of $70.00 per unit. The costs incurred by Bark during the year are shown below: Direct labor cost per unit Direct materials cost per unit Total fixed overhead cost Total fixed selling cost Total variable overhead cost Total variable selling cost Amount $6.00 $4.00 $300,000 $55,000 $100,000 $98,000 What is the amount of ending...
CO D) Topple Company produces a single product. Operating data for the company and its absorption...
CO D) Topple Company produces a single product. Operating data for the company and its absorption costing income statement for the last year are presented below. Units in beginning inventory 0 Units produced 9,000 Units sold 7,000 Sales $100,000 Less cost of goods sold: Beginning inventory 0 Add cost of goods manufactured 54,000 Goods available for sale 54,000 Less ending inventory 12,000 Cost of goods sold 42,000 Gross margin 58,000 Less selling and admin. expenses 28,000 Net operating income $30,000...
Variable Costing-Sales Exceed Production The beginning inventory is 24,100 units. All of the units that were...
Variable Costing-Sales Exceed Production The beginning inventory is 24,100 units. All of the units that were manufactured during the period and 24,100 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $62 per unit, and variable manufacturing costs are $110 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption costing operating income.
In 2019, Barry Grey Inc. sold 42,000 units at a selling price of $44 per unit....
In 2019, Barry Grey Inc. sold 42,000 units at a selling price of $44 per unit. The company manufactured 70,000 units. Variable manufacturing costs were $22 per unit manufactured. Fixed manufacturing costs amounted to $334,000. Variable marketing costs were $9 per unit sold, and the budgeted and actual fixed marketing costs were $30,000. Other fixed operating expenses amounted to $22,000. There was no beginning inventory. Round all answers to the nearest whole number. a) Calculate the company's 2019 operating income...
Variable vs. Absorption Costing $ 50.00 No Video for this worksheet Selling price per unit Manufacturing...
Variable vs. Absorption Costing $ 50.00 No Video for this worksheet Selling price per unit Manufacturing costs Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year $ 11.00 REQUIRED: Calculate the unit cost and prepare a traditional 6.00 $ 3.00 120,000 Selling and administrative expenses Variable per unit sold Fixed per year $ 4.00 70,000 Year 1 Units in beginning inventory Units produced during the year Units sold during the year Units in...
The options it allows you to pick are Beginning Inventory, Contribution Margin, Cost of Goods Manufactured,...
The options it allows you to pick are Beginning Inventory,
Contribution Margin, Cost of Goods Manufactured, Ending inventory,
Fixed General and Administrative expense, Interest expense, Sales,
and Variable selling expense.
The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2.500 350 S Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 +...
Calculator The level of inventory of a manufactured product has increased by 8,704 units during a period. The following data are also available: Variable Fixed Unit manufacturing costs of the period $12.00 $3.00 Unit operating expenses of the period 1.00 4.00 The effect on operating income if absorption costing is used rather than variable costing would be a Oa. $60,928 increase Ob. $60,928 decrease Oc. $26,112 decrease Od. $26,112 increase
Calculator The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also available: Variable Fixed Unit manufacturing costs of the period $24.00 $10.00 Unit operating expenses of the period 8.00 3.00 The effect on operating income if absorption costing is used rather than variable costing would be a(n) Oa. $80,000 decrease Ob. $80,000 increase Oc. $104,000 decrease Od $104,000 increase All work saved. Email Instru
Fleet, Inc., manufactured 700 units of Product A, a new product, during the year. Product A's variable and fixed manufacturing costs per unit were $6.00 and $2.00, respectively. The inventory of Product A on December 31 consisted of 100 units. There was no inventory of Product A on January 1. What would be the change in the dollar amount of inventory on December 31 if variable costing were used instead of absorption costing? [11] A. $800 decrease. O B. $200...
In absorption costing, When units manufactured > units sold, 1. then inventory 2. the change in inventory is related to 1. Finished goods inventory increases 2. Reduction of fixed manufacturing overhead to beginning inventory 1. Finished goods inventory decreases 2. Allocation of fixed manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of variable manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of fixed manufacturing overhead to ending inventory C QUESTION 11 If...
During its first year of operations, Bark Corporation manufactured 17,000 units of its product. Of these units, 11,900 were sold to customers for a selling price of $70.00 per unit. The costs incurred by Bark during the year are shown below: Direct labor cost per unit Direct materials cost per unit Total fixed overhead cost Total fixed selling cost Total variable overhead cost Total variable selling cost Amount $6.00 $4.00 $300,000 $55,000 $100,000 $98,000 What is the amount of ending...
Variable Costing-Sales Exceed Production The beginning inventory is 24,100 units. All of the units that were manufactured during the period and 24,100 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $62 per unit, and variable manufacturing costs are $110 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption costing operating income.
Variable vs. Absorption Costing $ 50.00 No Video for this worksheet Selling price per unit Manufacturing costs Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year $ 11.00 REQUIRED: Calculate the unit cost and prepare a traditional 6.00 $ 3.00 120,000 Selling and administrative expenses Variable per unit sold Fixed per year $ 4.00 70,000 Year 1 Units in beginning inventory Units produced during the year Units sold during the year Units in...
The options it allows you to pick are Beginning Inventory,
Contribution Margin, Cost of Goods Manufactured, Ending inventory,
Fixed General and Administrative expense, Interest expense, Sales,
and Variable selling expense.
The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2.500 350 S Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 +...
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