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Problem 5-13 The following information relates to Munchies Industries for fiscal 2017, the company's first year of operation: Units produced Units sold Units in ending inventory Fixed manufacturing overhead 157,000 114,900 42,100 $927,870 Calculate the amount of fixed manufacturing overhead that would be expensed in 2017 using full costing. (Round fixed manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.) Fixed manufacturing overhead expensed s LINK TO TEXT LINK TO...
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Problem 5-15
The following information relates to Ridgewood Manufacturing for
fiscal 2017, the company’s first year of operation:
Selling price per unit
$
149
Direct material per unit
$
74
Direct labor per unit
$
32
Variable manufacturing overhead per unit
$
5
Variable selling cost per dollar of sales
$
0.04
Annual fixed manufacturing overhead
$
2,440,000
Annual fixed selling expense
$
1,625,000
Annual fixed administrative expense
$
842,500
Units produced
244,000
Units sold
209,200
Prepare an income statement...
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Exercise 5-11 to Exercise 5-18
Tri Town Manufacturing produces snow shovels. The selling price per
snow shovel is $28.00. There is no beginning inventory.
Costs involved in production are:
Direct material
$6.00
Direct labor
4.00
Variable manufacturing overhead
4.00
Total variable manufacturing costs per unit
$14.00
Fixed manufacturing overhead per year
$196,560
In addition, the company has fixed selling and administrative costs
of $170,900 per year.
During the year, Tri Town produces 50,400 snow shovels and sells
45,390 snow shovels....
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Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $586,100. There was no ending work-in-process inventory. Total costs were $576,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $250,000 170,000 156,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
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Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $583,200. There was no ending work-in-process inventory. Total costs were $573,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $230,000 200,000 143,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
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Acme Industries, which produces just one product, provides the
following information regarding its operations for 2019. The firm
uses LIFO to model inventory cost flows and has no work in
process.
Item
Units
Amount (total value)
Amount for FMOH in total*
Per unit (total)
Per unit (FMOH)
Opening finished goods inventory
2,000
$18,000
$4,000
$9.00
$2.00
Units completed (transfers from WIP)
145,000
1,319,500
297,250
9.10
2.05
Sold during 2019
Ending finished goods inventory
2,250
?
Revenue
1,650,000
SGA costs (80%...
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The following information is available for Pembina Pools, a manufacturer of above-ground swimming pool kits: Total 21,000 21,000 Units produced Units sold Selling price per unit Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per year Fixed selling and administrative expense per year 2017 12,690 10,500 $3,780 $770 $1,700 $289 $2,550,690 $1,492,000 2018 8,310 10,500 $3,780 $ 770 $1,700 $289 $2,550,690 $1,492,000 In its first year of operation, the company produced 12,690...
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Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were produced, of which 9,500 were sold. Data concerning last year's operations appear here in New Taiwanese dollars, NTS): Revenue NT$ 33,820 Variable direct materials costs 2,247 Variable direct labour costs 3,638 Variable manufacturing overhead 2,782 Variable selling 950 Fixed manufacturing overhead 8,300 Fixed selling and administrative costs 14,858 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
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Thank you.
Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales price Direct materials used Direct labor Manufacturing overhead Selling and administrative expense Units manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory 59.100 $12.800 $90,000 59.100 $98.000 $99.100 $21,400 18.000 units 20 200 units 23,100 units Under absorption costing, what is the unit product cost? (Round answer to 2 dec. Unit product cost LINK TO TEXT LINK TO TEXT LINK TO Under variable costing,...
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Accustart Stage Supplies is a manufacturer of a specialized
type of light used in theaters. Information on the first 3 years of
business is as follows:
2017
2018
2019
Total
Units sold
4,650
4,650
4,650
13,950
Units produced
4,650
5,580
3,720
13,950
Fixed production costs
$62,496
$62,496
$62,496
Variable production costs per unit
$78
$78
$78
Selling price per unit
$229
$229
$229
Fixed selling and administrative expense
$4,700
$4,700
$4,700
(a)
Your answer is partially correct. Try again.
Calculate...
Problem 5-13 The following information relates to Munchies Industries for fiscal 2017, the company's first year of operation: Units produced Units sold Units in ending inventory Fixed manufacturing overhead 157,000 114,900 42,100 $927,870 Calculate the amount of fixed manufacturing overhead that would be expensed in 2017 using full costing. (Round fixed manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.) Fixed manufacturing overhead expensed s LINK TO TEXT LINK TO...
Problem 5-15
The following information relates to Ridgewood Manufacturing for
fiscal 2017, the company’s first year of operation:
Selling price per unit
$
149
Direct material per unit
$
74
Direct labor per unit
$
32
Variable manufacturing overhead per unit
$
5
Variable selling cost per dollar of sales
$
0.04
Annual fixed manufacturing overhead
$
2,440,000
Annual fixed selling expense
$
1,625,000
Annual fixed administrative expense
$
842,500
Units produced
244,000
Units sold
209,200
Prepare an income statement...
Exercise 5-11 to Exercise 5-18
Tri Town Manufacturing produces snow shovels. The selling price per
snow shovel is $28.00. There is no beginning inventory.
Costs involved in production are:
Direct material
$6.00
Direct labor
4.00
Variable manufacturing overhead
4.00
Total variable manufacturing costs per unit
$14.00
Fixed manufacturing overhead per year
$196,560
In addition, the company has fixed selling and administrative costs
of $170,900 per year.
During the year, Tri Town produces 50,400 snow shovels and sells
45,390 snow shovels....
Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $586,100. There was no ending work-in-process inventory. Total costs were $576,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $250,000 170,000 156,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $583,200. There was no ending work-in-process inventory. Total costs were $573,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $230,000 200,000 143,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
The following information is available for Pembina Pools, a manufacturer of above-ground swimming pool kits: Total 21,000 21,000 Units produced Units sold Selling price per unit Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per year Fixed selling and administrative expense per year 2017 12,690 10,500 $3,780 $770 $1,700 $289 $2,550,690 $1,492,000 2018 8,310 10,500 $3,780 $ 770 $1,700 $289 $2,550,690 $1,492,000 In its first year of operation, the company produced 12,690...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were produced, of which 9,500 were sold. Data concerning last year's operations appear here in New Taiwanese dollars, NTS): Revenue NT$ 33,820 Variable direct materials costs 2,247 Variable direct labour costs 3,638 Variable manufacturing overhead 2,782 Variable selling 950 Fixed manufacturing overhead 8,300 Fixed selling and administrative costs 14,858 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Thank you.
Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales price Direct materials used Direct labor Manufacturing overhead Selling and administrative expense Units manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory 59.100 $12.800 $90,000 59.100 $98.000 $99.100 $21,400 18.000 units 20 200 units 23,100 units Under absorption costing, what is the unit product cost? (Round answer to 2 dec. Unit product cost LINK TO TEXT LINK TO TEXT LINK TO Under variable costing,...
Accustart Stage Supplies is a manufacturer of a specialized
type of light used in theaters. Information on the first 3 years of
business is as follows:
2017
2018
2019
Total
Units sold
4,650
4,650
4,650
13,950
Units produced
4,650
5,580
3,720
13,950
Fixed production costs
$62,496
$62,496
$62,496
Variable production costs per unit
$78
$78
$78
Selling price per unit
$229
$229
$229
Fixed selling and administrative expense
$4,700
$4,700
$4,700
(a)
Your answer is partially correct. Try again.
Calculate...