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Question #7 A manufacturer produces and sells single product. Summarized data...
Review Problem 1: Contrasting Variable and Absorption Costing Dexter Corporation produces and sells a single product,...
Review Problem 1: Contrasting Variable and Absorption Costing Dexter Corporation produces and sells a single product, a wooden hand loom for weaving small items such as scarves Selected cost and operating data relating to the product for two years are given below: Selling price per unit. $50 Manufacturing costs: Variable per unit produced: Direct materials. $11 Direct labor .......... Variable manufacturing overhead... Fixed manufacturing overhead per year ........ $120,000 Selling and administrative expenses: Variable per unit sold....... $4 Fixed per...
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 34,100 28,100 452 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $ 23 $393,400 $ 208 $ 58 $ 38 $716,100 Assume that direct labor is...
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 32,700 27,100 459 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses : Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 20 $ 406,500 $ 298 $ 52 30 $425, 100 Assume that direct labor is...
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory 0 Units produced 28,800 Units sold 25,100 Selling price per unit $ 410 Selling and administrative expenses: Variable per unit $ 20 Fixed per year $ 527,100 Manufacturing costs: Direct materials cost per unit $ 241 Direct labor cost per unit $ 56 Variable manufacturing overhead cost per unit $ 34 Fixed manufacturing overhead per year $ 604,800 Assume that...
2. (8 points) The Morse Corporation produces and sells a single product. The following data refer...
2. (8 points) The Morse Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced 0 9,000 7,000 $ Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year 47 $ 58,000 Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $ $ $ 10 6 5 90,000 Assume that...
Problem 6. Italia Espresso Machina Inc. produces a single product. Data concerning the company's operations last...
Problem 6. Italia Espresso Machina Inc. produces a single product. Data concerning the company's operations last year appear below Units in beginning inventory Units produced Units sold 2,000 1,900 Selling price per unit $100 Variable costs per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $30 $10 $5 $2 Fixed costs in total Fixed manufacturing overhead Fixed selling and administrative 40,000 $60,000 Required a. Compute the unit product cost under both absorption and variable costing b....
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced 32,200 26,600 Units sold Selling price per unit Selling and administrative expenses Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 422 19 $452,200 259 56 34 $450,800 Assume that direct labor is a variable cost Required: a....
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 32,200 26,600 422 $ $452,200 19 259 56 34 $450,800 Assume that direct labor is a variable cost. Required:...
Q.3.Italian Espresso Company. produces a single product. Data concerning the company's operations last year appear below:...
Q.3.Italian Espresso Company. produces a single product. Data concerning the company's operations last year appear below: Units in beginning inventory 0 Units produced 2,000 Units sold. 1,900 Selling price per unit $100 Variable costs per unit: Direct materials.... $30 Direct labor $10 Variable manufacturing overhead $5 Variable selling and administrative.. $2 Fixed costs in total: Fixed manufacturing overhead $40,000 Fixed selling and administrative $60,000 Required: a. Compute the unit product cost under both absorption and variable costing. b. Prepare an...
Rey Company's single product sells at a price of $227 per unit. Data for its single...
Rey Company's single product sells at a price of $227 per unit. Data for its single product for its first year of operations follo 31 per unit 39 per unit Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold 13 per unit $ 420,000 per year 29 per unit $ 222,000 per year 28,880 units 1. Prepare an income statement for the year using absorption costing 2....
Review Problem 1: Contrasting Variable and Absorption Costing Dexter Corporation produces and sells a single product, a wooden hand loom for weaving small items such as scarves Selected cost and operating data relating to the product for two years are given below: Selling price per unit. $50 Manufacturing costs: Variable per unit produced: Direct materials. $11 Direct labor .......... Variable manufacturing overhead... Fixed manufacturing overhead per year ........ $120,000 Selling and administrative expenses: Variable per unit sold....... $4 Fixed per...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 34,100 28,100 452 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $ 23 $393,400 $ 208 $ 58 $ 38 $716,100 Assume that direct labor is...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 32,700 27,100 459 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses : Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 20 $ 406,500 $ 298 $ 52 30 $425, 100 Assume that direct labor is...
2. (8 points) The Morse Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced 0 9,000 7,000 $ Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year 47 $ 58,000 Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $ $ $ 10 6 5 90,000 Assume that...
Problem 6. Italia Espresso Machina Inc. produces a single product. Data concerning the company's operations last year appear below Units in beginning inventory Units produced Units sold 2,000 1,900 Selling price per unit $100 Variable costs per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $30 $10 $5 $2 Fixed costs in total Fixed manufacturing overhead Fixed selling and administrative 40,000 $60,000 Required a. Compute the unit product cost under both absorption and variable costing b....
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced 32,200 26,600 Units sold Selling price per unit Selling and administrative expenses Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 422 19 $452,200 259 56 34 $450,800 Assume that direct labor is a variable cost Required: a....
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 32,200 26,600 422 $ $452,200 19 259 56 34 $450,800 Assume that direct labor is a variable cost. Required:...
Q.3.Italian Espresso Company. produces a single product. Data concerning the company's operations last year appear below: Units in beginning inventory 0 Units produced 2,000 Units sold. 1,900 Selling price per unit $100 Variable costs per unit: Direct materials.... $30 Direct labor $10 Variable manufacturing overhead $5 Variable selling and administrative.. $2 Fixed costs in total: Fixed manufacturing overhead $40,000 Fixed selling and administrative $60,000 Required: a. Compute the unit product cost under both absorption and variable costing. b. Prepare an...
Rey Company's single product sells at a price of $227 per unit. Data for its single product for its first year of operations follo 31 per unit 39 per unit Direct materials Direct labor Overhead costs Variable overhead Fixed overhead per year Selling and administrative expenses Variable Fixed Units produced and sold 13 per unit $ 420,000 per year 29 per unit $ 222,000 per year 28,880 units 1. Prepare an income statement for the year using absorption costing 2....
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