Runner Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information...
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Homework Answers
Sol:
Computation of Inventory (units)
| 2017 | 2018 | 2019 | ||
| Beginning inventory (units) | 0 | 0 | 970 | |
| Add: | Units Produced | 4850 | 5820 | 3880 |
| Total Units | 4850 | 5820 | 4850 | |
| Less : | Units Sold | 4850 | 4850 | 4850 |
| Ending Inventory (Units) | 0 | 970 | 0 |
Statement of Cost & Profit
| 2017 | 2018 | 2019 | ||
| Sales Revenue(A) | $ 1,023,350 | $ 1,023,350 | $ 1,023,350 | |
| Variable cost (B) =unit produced * $ 69 | $ 334,650 | $ 401,580 | $ 267,720 | |
| Fixed Production Cost (D) | $ 65,766 | $ 65,766 | $ 65,766 | |
| Total Production Cost (E) = (B+D) | $ 400,416 | $ 467,346 | $ 333,486 | |
| Production Cost per unit (F)= (Total production Cost (E)/ Total Unit produced) | $ 82.56 | $ 80.30 | $ 85.95 | |
| Add: | Opening Stock (G) | $ - | $ - | $ 77,891.00 |
| Less : | Closing Stock (H)= Ending inventory * production cost per unit(F) | $ - | $ 77,891.00 | $ - |
| Cost of Goods Sold (I)=(E+G-H) | $ 400,416.00 | $ 389,455.00 | $ 411,377.00 | |
| Add: | Fixed Selling & Administration Cost (J) | $ 4,630.00 | $ 4,630.00 | $ 4,630.00 |
| Cost Of Sales (K) = (I+J) | $ 405,046.00 | $ 394,085.00 | $ 416,007.00 | |
| Net Profit = {Sales Revenue(A) - Cost of sales(K)} | $ 618,304 | $ 629,265 | $ 607,343 |
Valuation of Closing Inventory
| Ending Inventory : | 2017 | 2018 | 2019 |
| Units | 0 | 970 | 0 |
| Variable Cost | $ 66,930 | ||
| Fixed production cost | $ 10,961 | ||
| Total Ending inventory value | 0 | $ 77,891 | 0 |
Or
Value of Ending Inventory = Ending Inventory (units) * Production cost per unit
= 970 * $ 80.30
= $ 77,891
Add Answer to:
Runner Stage Supplies is a manufacturer of a specialized type
of light used in theaters. Information...
Runner Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information...
Runner 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 $4,850 $4,850 $4,850 $14,550 Units Produced $4,850 $5,820 $3,880 $14,550 Fixed Production Cost $65,766 $65,766 $65,766 Variable Production Costs per Unit $69 $69 $69 Selling Price per Unit $211 $211 $211 Fixed Selling and Administrative Expenses $4,630 $4,630 $4,630 2017 2018 2019 Cost per unit Net profit 618,304...
Accustart Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information on th...
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)
Calculate profit and the value of ending inventory...
Accustart Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information on th...
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)
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Problem 5-14
The following information relates to Pukalani Industries for fiscal
2017, the company’s first year of operation:
Units produced
494,900
Units sold
448,800
Units in ending inventory
46,100
Fixed manufacturing overhead
$1,410,465
Calculate the amount of fixed manufacturing overhead that would
be expensed in 2017 using full costing. (Round fixed
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LINK TO...
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)
Calculate profit and the value of ending inventory...
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...
Dynatech Electronics produces a wireless home lighting device that allows consumers to turn on home lights from their cars and light a safe path into and through their homes. Information on the first three years of business is as follows: Total 42,000 42,000 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2017 14,000 14,000 $612,500 $149 $240 $222,800 2018 14,000 17,500 $612,500 $149 $240 $222,800 2019 14,000...
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...
Problem 5-1 Richetti Electronics produces a wireless home lighting device that allows consumers to turn on home lights from their cars and light a path into and through their homes. Information on the first three years of business is as follows: Total 72,000 72,000 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2017 24,000 24,000 $1,020,000 $157 $237 $226,800 2018 24,000 30,000 $1,020,000 $157 $237 $226,800 2019...
Chs Homework Question 3 of 4 -/1 III View Policies Current Attempt in Progress Runner BBQ produces stainless steel propane gasgrills. The company has been in operation for three years, and sales have declined each year due to increased competition. The following information is available: Total 79.220 79,220 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2020 27,960 27,960 $27,960,000 $1,000 $2,400 $3,200,000 2021 25,860 27,960 $27,960,000...
View Policies Current Attempt in Progress Kokomo produces stereo speakers. The selling price per pair of speakers is $1,840. There is no beginning inventory. $147 Costs involved in production are: Direct material Direct labor Variable manufacturing overhead Total variable manufacturing costs per unit 204 100 $451 Fixed manufacturing overhead per year $665,760 In addition, the company has fixed selling and administrative costs: Fixed selling costs per year $196,100 Fixed administrative costs per year $ 101,400 During the year, Kokomo produces...
Problem 5-14
The following information relates to Pukalani Industries for fiscal
2017, the company’s first year of operation:
Units produced
494,900
Units sold
448,800
Units in ending inventory
46,100
Fixed manufacturing overhead
$1,410,465
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
$
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