Homework Answers
Correct answer-----------(a) $84
Working
| Absorption costing unit product cost | |
| Direct material | $ 11.00 |
| Direct labor | $ 16.00 |
| Variable Manufacturing overhead | $ 27.00 |
| Fixed manufacturing overhead | $ 30.00 |
| Absorption costing Unit Product Cost | $ 84.00 |
Variable selling or fixed cost are not product cost.
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Whitman Company has just completed its first year of operations. The company’s absorption costing income statement...
Whitman Company has just completed its first year of operations.
The company’s absorption costing income statement for the year
appears below:
Whitman Company
Income Statement
Sales (42,000 units
× $41.10 per unit)
$
1,726,200
Cost of goods sold
(42,000 units × $21 per unit)
882,000
Gross margin
844,200
Selling and
administrative expenses
525,000
Net operating
income
$
319,200
The company’s selling and administrative expenses consist of
$315,000 per year in fixed expenses and $5 per unit sold in...
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Brief Exercise 6-18 Burns Company incurred the following costs during the year: direct materials $22.90 per...
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Dapple Company incurred the following costs while producing 400 units direct materials. 58 per unit direct labor, 522 per unit variable manufacturing overhead, 520 per unit total fixed manufacturing overhead costs $4,000, variable selling and administrative costs. 512 per unit total fixed selling and administrative costs. 53 200 There are no beginning inventories What is the unit product cost using absorption costing? O A 550 per unit OB. 580 per un OC. $60 per unit OD. 562 per un
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Whitman Company has just completed its first year of operations.
The company’s absorption costing income statement for the year
appears below:
Whitman Company
Income Statement
Sales (42,000 units
× $41.10 per unit)
$
1,726,200
Cost of goods sold
(42,000 units × $21 per unit)
882,000
Gross margin
844,200
Selling and
administrative expenses
525,000
Net operating
income
$
319,200
The company’s selling and administrative expenses consist of
$315,000 per year in fixed expenses and $5 per unit sold in...
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