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| Medham Inc has collected the cure no begingung mvertones) following data ( There ! units...
Per Dad Page 2 Allentown information Aqua, for Inc. has the year provided the following units...
Per Dad Page 2 Allentown information Aqua, for Inc. has the year provided the following units peroduced Sales pauce Dimect materials Direct labor Vasciable manufactus cachead Fixed manufactuhting Overhead Valuable Selling and adnunistaa Costs Fixed selling and administrato-costs 11,000 units 9 40 percut & go per uit 9 35 peer cout $ 70 per ut $ 470,000 per year $90 per mit $ 940.000 pieza year What is the imit product cost using Varuable costing ?
Newman, Inc. has collected the following data for November (there are no beginning inventories) (Click the...
Newman, Inc. has collected the following data for November (there are no beginning inventories) (Click the icon to view the data.) Read the requirements: Requirement 1. Using absorption costing calculate the unit product cost. (Round your final answer to the nearest cent) Data Table Absorption costing Unit product cast Requirement 2. Prepare an income statement using the traditional format Newman, Inc. Income Statement (Absorption Costing) For the Month Ended November 30 Units produced and sold 700 units Sales price Direct...
Autumn, Inc. has collected the following data for November (there are no beginning inventories): (Click the...
Autumn, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view the data.) Data Table d your final Units produced and sold Sales price Direct materials Direct labor 750 units 400 per unit 65 per unit 63 per unit 14 per unit 12,375 per month 50 per unit 5,100 per month Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs Print Done Requirement 1. Using...
has no 4.80 2.00 1.20 1200 units 198azn QUESTION 1 At the start of period one...
has no 4.80 2.00 1.20 1200 units 198azn QUESTION 1 At the start of period one Tommy opening inventories. Tommy sells his product for £12 per mit incurring the following uit Variable Direct materials Direct labour Variable Production overheads Fized production overheads are £3,000 fized selling overheads are £1,000, and production and sales are as follows: Pd1 Pd 2 Sales 1800 units Production 1400 units 1600 units Overhead absorption rates are calculated based on budgeted production of 1500 units. Required:...
Lavender Inc has the following information for its first year of operations: Units produced Units sold...
Lavender Inc has the following information for its first year of operations: Units produced Units sold Unit sales price Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead Variable selling expenses Fixed selling and administrative expenses 4,800 3,840 $ 210.00 $ 42.00 $ 52.50 $ 10.50 $120,000 $ 10.50 $ 27,000 a. Prepare Lavender's full absorption costing income statement. (Do not round your intermediate calculations. Round your answers to nearest dollar amounts.) b....
lagan, Inc. has collected the following data. (There are no beginning inventories.) Units produced Sales price...
lagan, Inc. has collected the following data. (There are no beginning inventories.) Units produced Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 700 units $110 per unit $20 per unit $11 per unit $8 per unit $17,200 per year $5 per unit $11,100 per year What is the ending balance in Finished Goods Inventory using variable costing if 400 units are sold? O A. $5,700 OB....
Inventory Valuation under Absorption and Variable Costing The following information pertains to Synergy Inc. for last...
Inventory Valuation under Absorption and Variable Costing The following information pertains to Synergy Inc. for last year: Beginning inventory in units 5,500 Units produced 20,000 23,700 Units sold Costs per unit: Direct materials $10.00 Direct labour $4.00 Variable overhead $1.75 $4.15 Fixed overhead $3.00 Variable selling expenses Fixed selling and administrative expenses * Fixed overhead totals $83,000 per year. $24,300 Required: 1. Calculate the cost of one unit of product under absorption costing. Round your answer to the nearest cent....
Georgia, Inc. has collected the following data on one of its products. The direct materials quantity...
Georgia, Inc. has collected the following data on one of its products. The direct materials quantity variance is: Direct materials standard (2 lbs @ $1/lb) $ 2 per finished unit Total direct materials cost variance—unfavorable $ 17,750 Actual direct materials used 60,000 lbs Actual finished units produced 20,000 units $17,750 unfavorable. $20,000 favorable. $17,750 favorable. $20,000 unfavorable. $2,250 favorable.
Reliable Inc. uses absorption costing in a FIFO inventory system.Reliable had opening inventory of 150 units...
Reliable Inc. uses absorption costing in a FIFO inventory system.Reliable had opening inventory of 150 units at a cost of $35 per unit. Ending inventory is 110 units. During 2017 Reliable sold 1,500 units at $55 each. The following costs apply to Reliable's operations for the year ended December 31, 2017. Direct material used in production $ 14 per unit Direct labour incurred 6 per unit Fixed manufacturing overhead $ 16,050 Variable manufacturing overhead $ 6 per unit Selling costs...
Grondin Inc. has the following cost data for its past year of operations. Grondin Inc. produces...
Grondin Inc. has the following cost data for its past year of operations. Grondin Inc. produces tables and sells them for $150 each. (You must show all your work in order to earn marks). $$ Per unit Variable Costs: Direct Materials (DM) $25 Direct Labour (DL) $20 Variable Mf’g Overhead $ 5 Variable Selling & Admin $10 Total Variable costs $60 Fixed Costs: Fixed Mf’g Overhead $360,000 Fixed Selling & Admin $200,000 Total Fixed Costs $560,000 Unit data: Beginning Inventory...
Per Dad Page 2 Allentown information Aqua, for Inc. has the year provided the following units peroduced Sales pauce Dimect materials Direct labor Vasciable manufactus cachead Fixed manufactuhting Overhead Valuable Selling and adnunistaa Costs Fixed selling and administrato-costs 11,000 units 9 40 percut & go per uit 9 35 peer cout $ 70 per ut $ 470,000 per year $90 per mit $ 940.000 pieza year What is the imit product cost using Varuable costing ?
Newman, Inc. has collected the following data for November (there are no beginning inventories) (Click the icon to view the data.) Read the requirements: Requirement 1. Using absorption costing calculate the unit product cost. (Round your final answer to the nearest cent) Data Table Absorption costing Unit product cast Requirement 2. Prepare an income statement using the traditional format Newman, Inc. Income Statement (Absorption Costing) For the Month Ended November 30 Units produced and sold 700 units Sales price Direct...
Autumn, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view the data.) Data Table d your final Units produced and sold Sales price Direct materials Direct labor 750 units 400 per unit 65 per unit 63 per unit 14 per unit 12,375 per month 50 per unit 5,100 per month Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs Print Done Requirement 1. Using...
has no 4.80 2.00 1.20 1200 units 198azn QUESTION 1 At the start of period one Tommy opening inventories. Tommy sells his product for £12 per mit incurring the following uit Variable Direct materials Direct labour Variable Production overheads Fized production overheads are £3,000 fized selling overheads are £1,000, and production and sales are as follows: Pd1 Pd 2 Sales 1800 units Production 1400 units 1600 units Overhead absorption rates are calculated based on budgeted production of 1500 units. Required:...
Lavender Inc has the following information for its first year of operations: Units produced Units sold Unit sales price Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead Variable selling expenses Fixed selling and administrative expenses 4,800 3,840 $ 210.00 $ 42.00 $ 52.50 $ 10.50 $120,000 $ 10.50 $ 27,000 a. Prepare Lavender's full absorption costing income statement. (Do not round your intermediate calculations. Round your answers to nearest dollar amounts.) b....
lagan, Inc. has collected the following data. (There are no beginning inventories.) Units produced Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 700 units $110 per unit $20 per unit $11 per unit $8 per unit $17,200 per year $5 per unit $11,100 per year What is the ending balance in Finished Goods Inventory using variable costing if 400 units are sold? O A. $5,700 OB....
Inventory Valuation under Absorption and Variable Costing The following information pertains to Synergy Inc. for last year: Beginning inventory in units 5,500 Units produced 20,000 23,700 Units sold Costs per unit: Direct materials $10.00 Direct labour $4.00 Variable overhead $1.75 $4.15 Fixed overhead $3.00 Variable selling expenses Fixed selling and administrative expenses * Fixed overhead totals $83,000 per year. $24,300 Required: 1. Calculate the cost of one unit of product under absorption costing. Round your answer to the nearest cent....
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