Homework Answers
Answer:
1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month.
| Direct material | 9.85 |
| Direct labour | 3.65 |
| Variable manufacturing overhead | 1.30 |
| Unit product cost | 14.80 |
2. Complete a variable costing income statement for last month.
| Sales (1460*32) | 46720 | |
| Less; Variable cost of goods sold (1460*14.80) | 21608 | |
| Manufacturing margin | 25112 | |
| Less: Variable selling and administrative expenses (1460*.70) | 1022 | |
| Contribution margin | 24090 | |
| Less: Fixed cost | ||
| Fixed manufacturing overhead | 16125 | |
| Fixed selling and administrative expenses | 5200 | |
| Total Fixed cost | 21325 | |
| Net operating income | 2765 |
3) Assuming Dance Creations uses absorption costing
| Direct material | 9.85 |
| Direct labour | 3.65 |
| Variable manufacturing overhead | 1.30 |
| Fixed manufacturing overhead (16125/1600) | 10.08 |
| Unit product cost | 24.88 |
4. Complete a absorption costing income statement
| Sales (1460*32) | 46720 |
| Less; cost of goods sold (1460*24.88) | 36324.8 |
| Gross profit | 10395.2 |
| Less:selling and administrative expenses (1460*.70+5200) | 6222 |
| Net operating income | 4173.2 |
6.
Higher profit
Full Abosption (*)
Variable costing
Profit difference because considering fixed manufacturing cost i
production So difference of $1408.2 (4173.2-2765)
Because (1600-1460) Units 140 x $10.08 = $1411.2
Add Answer to:
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials $ 10.00 Direct labor 3.80 Variable manufacturing overhead 1.45 Variable selling and administrative expenses 0.85 Fixed Cost per Month Fixed manufacturing overhead $ 18,040 Fixed selling and administrative expenses 5,350 Dance Creations charges $33 for each skirt that it sells. During the...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials $ 10.50 Direct labor 4.30 Variable manufacturing overhead 1.45 Variable selling and administrative expenses 0.40 Fixed Cost per Month Fixed manufacturing overhead $ 20,240 Fixed selling and administrative expenses 5,850 Dance Creations charges $35 for each skirt that it sells. During the...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.25 4.05 1.20 0.50 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $19, 140 5, 600 Dance Creations charges $33 for each skirt that it sells. During...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.15 3.95 1.10 0.40 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $18,785 5,500 Dance Creations charges $33 for each skirt that it sells. During the first...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.55 4.35 1.50 0.45 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $19,550 5,900 Dance Creations charges $35 for each skirt that it sells. During the first...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.55 4.35 1.50 0.45 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $19,550 5,900 Dance Creations charges $35 for each skirt that it sells. During the first...
Dance For Life Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations,...
Dance For Life Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials $ Direct labor Variable manufacturing overhead Variable selling and administrative expenses 9.80 3.60 1.25 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $ 16,800 5, 150 Dance For Life Creations charges $31 for each skirt that...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skir Direct materials $ 9.60 Direct labor 3.40 33 Variable manufacturing overhead 1.05 Variable selling and administrative expenses 0.40 Fixed Cost per Month Fixed manufacturing overhead $ 16,125 Fixed selling and administrative expenses 4,950 Dance Creations charges $30 for each skirt that it sells. During...
Dance Creations manufactures authentic Hawaiian hul skirts that are purchased for traditional Hawaiian celebrations, costume parties,...
Dance Creations manufactures authentic Hawaiian hul skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt 10.05 Variable manutduring overhead Variable selling and administrative expenses Ford Cooper Month Food manufacturing overhead Fixed selling and ad o tive expenses $18,000 Dance Creations charges 533 for each skin that sells. During the first month of Operation, made 1.600 skirts and sold 1465....
PA5-6 (Static) Comparing Full Absorption and Variable Costing [LO 5S-1) Dance Creations manufactures authentic Hawaiian hula...
PA5-6 (Static) Comparing Full Absorption and Variable Costing [LO 5S-1) Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direet materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses 9.60 3.40 1.05 0.40 Fixed Coat per Month Pixed manufacturing overhead Fixed selling and administrative expenses $16,125 4,950 sells. During the fire...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.25 4.05 1.20 0.50 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $19, 140 5, 600 Dance Creations charges $33 for each skirt that it sells. During...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.15 3.95 1.10 0.40 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $18,785 5,500 Dance Creations charges $33 for each skirt that it sells. During the first...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.55 4.35 1.50 0.45 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $19,550 5,900 Dance Creations charges $35 for each skirt that it sells. During the first...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.55 4.35 1.50 0.45 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $19,550 5,900 Dance Creations charges $35 for each skirt that it sells. During the first...
Dance For Life Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials $ Direct labor Variable manufacturing overhead Variable selling and administrative expenses 9.80 3.60 1.25 Fixed Cost per Month Fixed manufacturing overhead Fixed selling and administrative expenses $ 16,800 5, 150 Dance For Life Creations charges $31 for each skirt that...
Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skir Direct materials $ 9.60 Direct labor 3.40 33 Variable manufacturing overhead 1.05 Variable selling and administrative expenses 0.40 Fixed Cost per Month Fixed manufacturing overhead $ 16,125 Fixed selling and administrative expenses 4,950 Dance Creations charges $30 for each skirt that it sells. During...
Dance Creations manufactures authentic Hawaiian hul skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt 10.05 Variable manutduring overhead Variable selling and administrative expenses Ford Cooper Month Food manufacturing overhead Fixed selling and ad o tive expenses $18,000 Dance Creations charges 533 for each skin that sells. During the first month of Operation, made 1.600 skirts and sold 1465....
PA5-6 (Static) Comparing Full Absorption and Variable Costing [LO 5S-1) Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direet materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses 9.60 3.40 1.05 0.40 Fixed Coat per Month Pixed manufacturing overhead Fixed selling and administrative expenses $16,125 4,950 sells. During the fire...
Most questions answered within 3 hours.
-
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 41 seconds ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 38 minutes ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 15 minutes ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 19 minutes ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 30 minutes ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 22 minutes ago -
A 24.6 g sample of brass is heated in a flask to 125°C in
boiling water...
asked 31 minutes ago -
Which drug candidates are most effective at docking with COX1
and COX2 respectively?
COX1: flurbiprofen, COX2:...
asked 44 minutes ago -
You place the left end of the rod on a fulcrum, and hang the
right end...
asked 45 minutes ago -
Push an object with half the mass of the cabinet with a force of
200 N....
asked 51 minutes ago -
Differentiate the application and functions of
electronic medical records, electronic health records and
electronic personal health...
asked 52 minutes ago -
What is the height of the tsunami in a water depth of 10 m
assuming the...
asked 1 hour ago