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![Variable Costing NT$42,720 [12000 units x (NT$33820/9500 units)] NT$9,720 [12000 units x NT$0.8100] NT$33,000 --> (A) Revenue](http://img.homeworklib.com/questions/97808df0-7312-11ea-b203-632df26ce7ae.png?x-oss-process=image/resize,w_560)
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Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were produced, of which 9,400 were sold. Data concerning last year's operations appear here (in New Taiwanese dollars, NT$): Revenue Variable direct materials costs Variable direct labour costs Variable manufacturing overhead Variable selling Fixed manufacturing overhead Fixed selling and administrative costs NT$ 32,900 2,300 3,300 2,800 940 8,250 14,560 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Exercise 6-17 Siren Company builds custom fishing lures for sporting goods stores. In its first year...
Exercise 6-17 Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $9.90 $4.55 $7.66 $5.15 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $303,600 $277.332 Siren Company sells the fishing lures for $33.00. During 2020, the company sold 80,000 lures and produced 92,000 lures. Assuming the...
Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations...
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...
Problem 5-15 The following information relates to Ridgewood Manufacturing for fiscal 2017, the company’s first year...
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 17.25 Flint Co. made 4,000 units of a product during its first year of operations...
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...
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations,...
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $8.70 Direct labor $4.00 Variable manufacturing overhead $6.73 Variable selling and administrative expenses $4.52 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $266,800 $243,716 Siren Company sells the fishing lures for $29.00. During 2020, the company sold 82,000 lures and produced 92,000 lures. Your answer is incorrect....
1. Assuming the company uses variable costing, calculate Marigold’s manufacturing cost per unit for 2020. (Round...
1. Assuming the company uses variable costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
2. Prepare a variable costing income statement for 2020.
(Enter negative amounts using either a negative sign
preceding the number e.g. -45 or parentheses e.g.
(45).)
3. Assuming the company uses absorption costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
4. Prepare an absorption costing income statement for...
During the last year, Moore Company's total variable production costs were $10,000, and its total fixed...
During the last year, Moore Company's total variable production costs were $10,000, and its total fixed manufacturing overhead costs were $6,800. The company produced 5,000 units during the year and sold 4,600 units. There were no units in the beginning inventory. Which of the following statements is true? A) The operating income under absorption costing for the year will be $800 higher than operating income under variable costing. B) The operating income under absorption costing for the year will be...
12-17 JV Company began its operations... unit sold were $11.75 each, and the fixed manuractu Midway...
12-17 JV Company began its operations...
unit sold were $11.75 each, and the fixed manuractu Midway incurred fixed selling costs, primarily for advertising and sales ma of $250,000. A commission of 10% on sales is paid to sales persons, and di costs averaging $2.00 per unit were incurred. 200,000, stribution Required: Prepare, in good form, a variable costing income statement for Midway for the 20x1 12-17 Absorption Costing, Variable Costing and Throughput Costing JV Company began its operations on January...
Exercise 6-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores. In...
Exercise 6-17 (Part Level Submission)
Siren Company builds custom fishing lures for sporting goods
stores. In its first year of operations, 2020, the company incurred
the following costs.
Variable Costs per Unit
Direct materials
$10.05
Direct labor
$4.62
Variable manufacturing overhead
$7.77
Variable selling and administrative expenses
$5.23
Fixed Costs per Year
Fixed manufacturing overhead
$311,550
Fixed selling and administrative expenses
$281,534
Siren Company sells the fishing lures for $33.50. During 2020, the
company sold 81,000 lures and produced 93,000...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were produced, of which 9,400 were sold. Data concerning last year's operations appear here (in New Taiwanese dollars, NT$): Revenue Variable direct materials costs Variable direct labour costs Variable manufacturing overhead Variable selling Fixed manufacturing overhead Fixed selling and administrative costs NT$ 32,900 2,300 3,300 2,800 940 8,250 14,560 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Exercise 6-17 Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $9.90 $4.55 $7.66 $5.15 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $303,600 $277.332 Siren Company sells the fishing lures for $33.00. During 2020, the company sold 80,000 lures and produced 92,000 lures. Assuming the...
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...
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 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...
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials $8.70 Direct labor $4.00 Variable manufacturing overhead $6.73 Variable selling and administrative expenses $4.52 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $266,800 $243,716 Siren Company sells the fishing lures for $29.00. During 2020, the company sold 82,000 lures and produced 92,000 lures. Your answer is incorrect....
1. Assuming the company uses variable costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
2. Prepare a variable costing income statement for 2020.
(Enter negative amounts using either a negative sign
preceding the number e.g. -45 or parentheses e.g.
(45).)
3. Assuming the company uses absorption costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
4. Prepare an absorption costing income statement for...
During the last year, Moore Company's total variable production costs were $10,000, and its total fixed manufacturing overhead costs were $6,800. The company produced 5,000 units during the year and sold 4,600 units. There were no units in the beginning inventory. Which of the following statements is true? A) The operating income under absorption costing for the year will be $800 higher than operating income under variable costing. B) The operating income under absorption costing for the year will be...
12-17 JV Company began its operations...
unit sold were $11.75 each, and the fixed manuractu Midway incurred fixed selling costs, primarily for advertising and sales ma of $250,000. A commission of 10% on sales is paid to sales persons, and di costs averaging $2.00 per unit were incurred. 200,000, stribution Required: Prepare, in good form, a variable costing income statement for Midway for the 20x1 12-17 Absorption Costing, Variable Costing and Throughput Costing JV Company began its operations on January...
Exercise 6-17 (Part Level Submission)
Siren Company builds custom fishing lures for sporting goods
stores. In its first year of operations, 2020, the company incurred
the following costs.
Variable Costs per Unit
Direct materials
$10.05
Direct labor
$4.62
Variable manufacturing overhead
$7.77
Variable selling and administrative expenses
$5.23
Fixed Costs per Year
Fixed manufacturing overhead
$311,550
Fixed selling and administrative expenses
$281,534
Siren Company sells the fishing lures for $33.50. During 2020, the
company sold 81,000 lures and produced 93,000...
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