Homework Answers
Answer
--Requirement 2 asked
| Sales | [9300 units x $ 47] | $437,100 |
| Less: Cost of Goods Sold | [calculated in Req #1] | $223,200 |
| Gross Margin | $213,900 | |
| Less: Selling & Admin expense | $138,000 | |
| Operating Income | $75,900 |
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Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...
Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...
Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: $9 Direct materials Direct labor $6 Variable overhead $4 Fixed costs: $5 Fixed overhead per unit produced Fixed selling and administrative $ 138,000 Required: 1. Calculate the cost of goods sold under absorption costing. $ 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman...
#1 #2 Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data:...
#1
#2
Absorption-Costing Income Statement
During the most recent year, Osterman Company had the following
data:
Units in beginning inventory
—
Units produced
10,000
Units sold ($47 per unit)
9,300
Variable costs per unit:
Direct materials
$9
Direct labor
$6
Variable overhead
$4
Fixed costs:
Fixed overhead per unit produced
$5
Fixed selling and administrative
$138,000
Required:
1. Calculate the cost of goods sold under
absorption costing.
$
2. Prepare an income statement using absorption
costing. Enter amounts as positive...
During the most recent year, Osterman Company had the following data: Units in beginning inventory Units...
During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman Company Income Statement under Absorption Costing For the Most...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials $9 $6 $4 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $5 $ 138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman Company...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials $12 Direct labor $7. Variable overhead $5 Fixed costs: Fixed overhead per unit produced $8 Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. y 2. Prepare an income statement using absorption costing. Beyta Company Income Statement under Absorption Costing...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory — Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials $9 Direct labor $6 Variable overhead $4 Fixed costs: Fixed overhead per unit produced $5 Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under variable costing. $ 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory 10,000 Units produced Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. Feedback 2. Prepare an income statement using absorption costing. Beyta Company Income Statement under Absorption Costing For the Most Recent...
During the most recent year, Osterman Company had the following data: Units in beginning inventory ---...
During the most recent year, Osterman Company had the following data: Units in beginning inventory --- Units produced 11,350 Units sold ($50 per unit) 9,400 Variable costs per unit: Direct materials $10 Direct labor $5 Variable overhead $3 Fixed costs: Fixed overhead per unit produced $4 Fixed selling and administrative $138,500 1. Calculate the cost of goods sold under absorption costing. The cost of goods sold under the absorption costing method is ---------------------- 2. Prepare an income statement using absorption...
During the most recent year, Osterman Company had the following data: Units in beginning inventory ---...
During the most recent year, Osterman Company had the following data: Units in beginning inventory --- Units produced 11,600 Units sold ($48 per unit) 9,000 Variable costs per unit: Direct materials $9 Direct labor $7 Variable overhead $3 Fixed costs: Fixed overhead per unit produced $5 Fixed selling and administrative expenses $137,500 1. Calculate the cost of goods sold under variable costing. The cost of goods sold under the variable costing method is ---------------------- 2. Prepare an income statement using...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: 10,000 8,800...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: 10,000 8,800 $12 Units in beginning inventory Units produced Units sold ($60 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $7 $5 $8 $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. 2. Prepare an income statement using absorption costing....
Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: $9 Direct materials Direct labor $6 Variable overhead $4 Fixed costs: $5 Fixed overhead per unit produced Fixed selling and administrative $ 138,000 Required: 1. Calculate the cost of goods sold under absorption costing. $ 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman...
#1
#2
Absorption-Costing Income Statement
During the most recent year, Osterman Company had the following
data:
Units in beginning inventory
—
Units produced
10,000
Units sold ($47 per unit)
9,300
Variable costs per unit:
Direct materials
$9
Direct labor
$6
Variable overhead
$4
Fixed costs:
Fixed overhead per unit produced
$5
Fixed selling and administrative
$138,000
Required:
1. Calculate the cost of goods sold under
absorption costing.
$
2. Prepare an income statement using absorption
costing. Enter amounts as positive...
During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman Company Income Statement under Absorption Costing For the Most...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials $9 $6 $4 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $5 $ 138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman Company...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials $12 Direct labor $7. Variable overhead $5 Fixed costs: Fixed overhead per unit produced $8 Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. y 2. Prepare an income statement using absorption costing. Beyta Company Income Statement under Absorption Costing...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory 10,000 Units produced Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. Feedback 2. Prepare an income statement using absorption costing. Beyta Company Income Statement under Absorption Costing For the Most Recent...
Absorption-Costing Income Statement During the most recent year, Beyta Company had the following data: 10,000 8,800 $12 Units in beginning inventory Units produced Units sold ($60 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $7 $5 $8 $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. 2. Prepare an income statement using absorption costing....
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