Homework Answers
Fixed manufacturing cost becomes a part of the product under absorption costing while it is charged as a period cost under variable costing
Hence, income will increase by Units in ending inventory*Fixed manufacturing cost per unit
= 8704*3
= $26,112
Hence, the answer is d.$26,112 Increase
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Calculator The level of inventory of a manufactured product has increased by 8,704 units during a...
Calculator The level of inventory of a manufactured product has increased by 8,000 units during a...
Calculator The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also available: Variable Fixed Unit manufacturing costs of the period $24.00 $10.00 Unit operating expenses of the period 8.00 3.00 The effect on operating income if absorption costing is used rather than variable costing would be a(n) Oa. $80,000 decrease Ob. $80,000 increase Oc. $104,000 decrease Od $104,000 increase All work saved. Email Instru
The level of inventory of a manufactured product has increased by 7,000 units during a period....
The level of inventory of a manufactured product has increased by 7,000 units during a period. The following data are also available Unit manufacturing costs of the period Unit operating expenses of the period Varia $12.00 Fixed $6.00 1.50 4.00 What would be the effect on income from operations if absorption costing is used rather than variable costing? a. $42,000 decrease b. $52,500 decrease Oc. $52,500 increase d. $42,000 increase
Fleet, Inc., manufactured 700 units of Product A, a new product, during the year. Product A's...
Fleet, Inc., manufactured 700 units of Product A, a new product, during the year. Product A's variable and fixed manufacturing costs per unit were $6.00 and $2.00, respectively. The inventory of Product A on December 31 consisted of 100 units. There was no inventory of Product A on January 1. What would be the change in the dollar amount of inventory on December 31 if variable costing were used instead of absorption costing? [11] A. $800 decrease. O B. $200...
Calculator A business operated at 100% of capacity during its first month and incurred the following costs: Product...
Calculator A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (2,500 units): Direct materials Direct labor $42,500 85,000 47,500 12,500 Variable factory overhead Fixed factory overhead $187,500 Operating expenses: Variable operating expenses $15,000 Fixed operating expenses 4,500 19,500 If 75 units remain unsold at the end of the month, the amount of inventory that would be reported on the absorption costing balance sheet is Oa. $6,210 Ob. $5,760 Oc. $5,250 Od....
Variable Costing-Sales Exceed Production The beginning inventory is 24,100 units. All of the units that were...
Variable Costing-Sales Exceed Production The beginning inventory is 24,100 units. All of the units that were manufactured during the period and 24,100 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $62 per unit, and variable manufacturing costs are $110 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption costing operating income.
Calculator Which of the following best describes one effect of recognizing expenses incurred by a business...
Calculator Which of the following best describes one effect of recognizing expenses incurred by a business entity? Oa. Contributed capital will increase. Ob. Retained earnings will decrease. Oc. Assets will increase. Od. Liabilities will decrease.
In absorption costing, When units manufactured > units sold, 1. then inventory 2. the change in inventory is related...
In absorption costing, When units manufactured > units sold, 1. then inventory 2. the change in inventory is related to 1. Finished goods inventory increases 2. Reduction of fixed manufacturing overhead to beginning inventory 1. Finished goods inventory decreases 2. Allocation of fixed manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of variable manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of fixed manufacturing overhead to ending inventory C QUESTION 11 If...
Osawa, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first...
Osawa, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $17 per unit produced. Variable operating (nonmanufacturing) cost was Sa per unit sold. Planned actual fixed manufacturing costs were 5570,000. Planned and actual fixed operating inonmanufacturing) costs totaled $400,000. Osawa sold 120,000 units of product at $43 per unit. Read the requirements. Requirement 2. Osawa's 2017 operating Income using variable costing is (a) $1,760,000, (b) $1,400.000, (c)...
myCampus Securo. Coastal Carolina C... 2 UNCWZoom-V. eBook 3 Show Me How Calculator Variable Costing-Sales Exceed...
myCampus Securo. Coastal Carolina C... 2 UNCWZoom-V. eBook 3 Show Me How Calculator Variable Costing-Sales Exceed Production Assig The beginning inventory is 23,300 units. All of the units that were manufactured during the period and 23,300 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $50 per unit, and variable manufacturing costs are $103 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. Variable costing...
The options it allows you to pick are Beginning Inventory, Contribution Margin, Cost of Goods Manufactured,...
The options it allows you to pick are Beginning Inventory,
Contribution Margin, Cost of Goods Manufactured, Ending inventory,
Fixed General and Administrative expense, Interest expense, Sales,
and Variable selling expense.
The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2.500 350 S Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 +...
Calculator The level of inventory of a manufactured product has increased by 8,000 units during a period. The following data are also available: Variable Fixed Unit manufacturing costs of the period $24.00 $10.00 Unit operating expenses of the period 8.00 3.00 The effect on operating income if absorption costing is used rather than variable costing would be a(n) Oa. $80,000 decrease Ob. $80,000 increase Oc. $104,000 decrease Od $104,000 increase All work saved. Email Instru
The level of inventory of a manufactured product has increased by 7,000 units during a period. The following data are also available Unit manufacturing costs of the period Unit operating expenses of the period Varia $12.00 Fixed $6.00 1.50 4.00 What would be the effect on income from operations if absorption costing is used rather than variable costing? a. $42,000 decrease b. $52,500 decrease Oc. $52,500 increase d. $42,000 increase
Fleet, Inc., manufactured 700 units of Product A, a new product, during the year. Product A's variable and fixed manufacturing costs per unit were $6.00 and $2.00, respectively. The inventory of Product A on December 31 consisted of 100 units. There was no inventory of Product A on January 1. What would be the change in the dollar amount of inventory on December 31 if variable costing were used instead of absorption costing? [11] A. $800 decrease. O B. $200...
Calculator A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (2,500 units): Direct materials Direct labor $42,500 85,000 47,500 12,500 Variable factory overhead Fixed factory overhead $187,500 Operating expenses: Variable operating expenses $15,000 Fixed operating expenses 4,500 19,500 If 75 units remain unsold at the end of the month, the amount of inventory that would be reported on the absorption costing balance sheet is Oa. $6,210 Ob. $5,760 Oc. $5,250 Od....
Variable Costing-Sales Exceed Production The beginning inventory is 24,100 units. All of the units that were manufactured during the period and 24,100 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $62 per unit, and variable manufacturing costs are $110 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption costing operating income.
Calculator Which of the following best describes one effect of recognizing expenses incurred by a business entity? Oa. Contributed capital will increase. Ob. Retained earnings will decrease. Oc. Assets will increase. Od. Liabilities will decrease.
In absorption costing, When units manufactured > units sold, 1. then inventory 2. the change in inventory is related to 1. Finished goods inventory increases 2. Reduction of fixed manufacturing overhead to beginning inventory 1. Finished goods inventory decreases 2. Allocation of fixed manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of variable manufacturing overhead to ending inventory 1. Finished goods inventory increases 2. Allocation of fixed manufacturing overhead to ending inventory C QUESTION 11 If...
Osawa, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $17 per unit produced. Variable operating (nonmanufacturing) cost was Sa per unit sold. Planned actual fixed manufacturing costs were 5570,000. Planned and actual fixed operating inonmanufacturing) costs totaled $400,000. Osawa sold 120,000 units of product at $43 per unit. Read the requirements. Requirement 2. Osawa's 2017 operating Income using variable costing is (a) $1,760,000, (b) $1,400.000, (c)...
myCampus Securo. Coastal Carolina C... 2 UNCWZoom-V. eBook 3 Show Me How Calculator Variable Costing-Sales Exceed Production Assig The beginning inventory is 23,300 units. All of the units that were manufactured during the period and 23,300 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $50 per unit, and variable manufacturing costs are $103 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. Variable costing...
The options it allows you to pick are Beginning Inventory,
Contribution Margin, Cost of Goods Manufactured, Ending inventory,
Fixed General and Administrative expense, Interest expense, Sales,
and Variable selling expense.
The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2.500 350 S Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 +...
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