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Heading the AdBloce como Absorption versus variable costing. Zee PLC manufacturers cycles and began operations in...
Horace Company manufacturers a professional-grade vacuum cleaner and began operations in 2017. For 2017, Horace budgeted...
Horace Company manufacturers a professional-grade vacuum cleaner and began operations in 2017. For 2017, Horace budgeted to produce and sell 25,000 units. The company had no price, spending, or efficiency variances and writes off production-volume variance to cost of goods sold. Actual data for 2017 are given as follows: Data: Units produced 21,000 Units sold 18,500 Selling price $432 Variable cost: Manufacturing cost per unit produced: Direct materials $33 Direct manufacturing labor $23 Manufacturing Overhead $62 Marketing cost per unit...
9-25 Variable versus absorption costing. The Zeta Company manufactures trendy, good-looking, moder- ately priced umbrellas. As...
9-25 Variable versus absorption costing. The Zeta Company manufactures trendy, good-looking, moder- ately priced umbrellas. As Zeta's senior financial analyst, you are asked to recommend a method of inven- tory costing. The CFO will use your recommendation to prepare Zeta's 2017 income statement. The following data are for the year ended December 31, 2017: Beginning inventory, January 1, 2017 Ending inventory, December 31, 2017 2017 sales Selling price (to distributor) Variable manufacturing cost per unit, including direct materials Variable operating...
Exercise 19-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer...
Exercise 19-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 35 per unit Direct labor $ 55 per unit Overhead costs for the year Variable overhead $ 4,400,000 Fixed overhead $ 6,600,000 Selling and administrative costs for the year Variable $ 775,000 Fixed $ 4,000,000 Production and sales for the year...
Exercise 6-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer...
Exercise 6-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 40 per unit Direct labor $ 60 per unit Overhead costs for the year Variable overhead $ 2,100,000 Fixed overhead $ 8,400,000 Selling and administrative costs for the year Variable $ 725,000 Fixed $ 4,250,000 Production and sales for the year...
Absorption Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and...
Absorption Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 51,000 units during the month with the following unit costs: Direct materials Direct labor Variable overhead Fixed overhead Variable marketing cost $6.00 4.00 2.00 8.00 1.70 Fixed overhead per unit $408,000/51,000 units produced $8 Total fixed factory overhead is $408,000 per month. During October, 49,100 units were sold at a price of $27.50, and fixed marketing and administrative expenses were $132,100. Required: 1....
requiremnets 1a. 1b. 2a. 2b. Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income...
requiremnets 1a. 1b. 2a. 2b.
Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements (L07-1, LO7 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costa per uniti Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costo per year. Fixed manufacturing overhead Fixed selling and administrative $276,000 $186.000 During the year, the company produced 23,000 units and sold 19,000 units....
9-22 ABSORPTION VERSUS VARIABLE COSTING. Electron Inc. is a semiconductor company based in Winnipeg. In 2018,...
9-22 ABSORPTION VERSUS VARIABLE COSTING. Electron Inc. is a semiconductor company based in Winnipeg. In 2018, it produced a new router system for its corporate clients. The average wholesale selling price of the system is 51,200 each. For 2018, Electron estimates that it will sell 10.000 router systems and so produces 10,000 units. Actual 2018 sales are 8,960 units. Electron's actual 2018 costs are: Variable costs per unit Manufacturing cost per unit produced $55 Direct materials Direct manufacturing tabour Manufacturing...
Variable & Absorption Costing
Pacheo Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$115Units in beginning inventory1,120Units produced2,520Units sold3,330Units in ending inventory310Variable costs per unit:Direct materials$25Direct labor$17Variable manufacturing overhead$2Variable selling and administrative expense$20Fixed costs:Fixed manufacturing overhead$60,480Fixed selling and administrative expense$6,660 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month...
Required information Exercise 06-9 Income statement under absorption costing and variable costing LO P1, P2 The...
Required information Exercise 06-9 Income statement under absorption costing and variable costing LO P1, P2 The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32,000 units at a price of $140 per unit Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling...
Estimated Income Statements, using Absorption and Variable Costing Prior to the first month of operations ending...
Estimated Income Statements, using Absorption and Variable Costing Prior to the first month of operations ending October 31 Marshall Inc. estimated the following operating results: Sales (13,600 x $48) $652,800 Manufacturing costs (13,600 units): Direct materials 393,040 Direct labor 92,480 Variable factory overhead 43,520 Fixed factory overhead 51,680 Fixed selling and administrative expenses 14,100 Variable selling and administrative expenses 17,000 The company is evaluating a proposal to manufacture 15,200 units instead of 13,600 units, thus creating an Inventory, October 31...
9-25 Variable versus absorption costing. The Zeta Company manufactures trendy, good-looking, moder- ately priced umbrellas. As Zeta's senior financial analyst, you are asked to recommend a method of inven- tory costing. The CFO will use your recommendation to prepare Zeta's 2017 income statement. The following data are for the year ended December 31, 2017: Beginning inventory, January 1, 2017 Ending inventory, December 31, 2017 2017 sales Selling price (to distributor) Variable manufacturing cost per unit, including direct materials Variable operating...
Absorption Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 51,000 units during the month with the following unit costs: Direct materials Direct labor Variable overhead Fixed overhead Variable marketing cost $6.00 4.00 2.00 8.00 1.70 Fixed overhead per unit $408,000/51,000 units produced $8 Total fixed factory overhead is $408,000 per month. During October, 49,100 units were sold at a price of $27.50, and fixed marketing and administrative expenses were $132,100. Required: 1....
requiremnets 1a. 1b. 2a. 2b.
Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements (L07-1, LO7 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costa per uniti Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costo per year. Fixed manufacturing overhead Fixed selling and administrative $276,000 $186.000 During the year, the company produced 23,000 units and sold 19,000 units....
9-22 ABSORPTION VERSUS VARIABLE COSTING. Electron Inc. is a semiconductor company based in Winnipeg. In 2018, it produced a new router system for its corporate clients. The average wholesale selling price of the system is 51,200 each. For 2018, Electron estimates that it will sell 10.000 router systems and so produces 10,000 units. Actual 2018 sales are 8,960 units. Electron's actual 2018 costs are: Variable costs per unit Manufacturing cost per unit produced $55 Direct materials Direct manufacturing tabour Manufacturing...
Required information Exercise 06-9 Income statement under absorption costing and variable costing LO P1, P2 The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32,000 units at a price of $140 per unit Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling...
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