Homework Answers
| a | |||
| Unit product cost | 10 | ||
| b | |||
| Super Variable Costing Income Statement | |||
| Sales | 480000 | =12000*40 | |
| Variable cost of goods sold | 120000 | =12000*10 | |
| Contribution margin | 360000 | ||
| Fixed expenses: | |||
| Direct labor | 75000 | ||
| Fixed manufacturing overhead | 150000 | ||
| Fixed selling and administrative expenses | 50000 | ||
| 275000 | |||
| Net operating income | 85000 |
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Zola Company manufactures and sells one product. The following information pertains to the company's first year...
Zola Company manufactures and sells one product. The following information pertains to the company’s first year...
Zola Company manufactures and sells one product. The following
information pertains to the company’s first year of operations:
The company does not incur any variable manufacturing overhead
costs or variable selling and administrative expenses. During its
first year of operations, Zola produced 19,000 units and sold
15,200 units. The selling price of the company’s product is $53.20
per unit.
Required:
1. Assume the company uses super-variable costing:
a. Compute the unit product cost for the year.
b. Prepare an income...
EXERCISE 4A-1 Super-Variable Costing Income Statement L04-6 Zola Company manufactures and sells one product. The following...
EXERCISE 4A-1 Super-Variable Costing Income Statement L04-6 Zola Company manufactures and sells one product. The following information pertains to the company's first year of operations: $18 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $200,000 $250,000 $80,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Zola produced 25,000 units and sold 20,000 units. The...
Dattilio Corporation manufactures and sells one product. The following information pertains to the company's first year...
Dattilio Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: $ 88 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $1,317,900 $2,349,300 $1,824,900 The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 57,300 units and sold 55,300 units. The company's only product is sold...
Lyons Company manufactures and sells one product. The following information pertains to the company’s first year...
Lyons Company manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 20.00 Fixed costs per year: Direct labor $ 1,400,000 Fixed manufacturing overhead $ 520,000 Fixed selling and administrative expenses $ 160,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Lyons produced 80,000 units and sold 70,000 units. The selling price of...
Bracey Company manufactures and sells one product. The following information pertains to the company’s first year...
Bracey Company manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 26 Fixed costs per year: Direct labor $ 329,000 Fixed manufacturing overhead $ 368,950 Fixed selling and administrative expenses $ 62,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 23,500 units and sold 21,900 units. The selling price of...
Bracey Company manufactures and sells one product. The following information pertains to the company’s first year...
Bracey Company manufactures and sells one product. The following information pertains to the company’s first year of operations: Variable cost per unit: Direct materials $ 33 Fixed costs per year: Direct labor $ 472,500 Fixed manufacturing overhead $ 442,800 Fixed selling and administrative expenses $ 76,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 27,000 units and sold 24,700 units. The selling price of...
Ogilvy Company manufactures and sells one product. The following information pertains to each of the company's...
Ogilvy Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: $16 Variable cost per unit: Direct materials ... Fixed costs per year: Direct labor ........ Fixed manufacturing overhead ......... Fixed selling and administrative expenses .......... $540,000 $822,000 $370,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Ogilvy produced 60,000 units and sold 60,000 units. During...
Ogilvy Company manufactures and sells one product. The following information pertains to each of the company's...
Ogilvy Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: $ 22 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 910,000 $ 837,000 $ 236,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Ogilvy produced 65,000 units and sold 65,000 units. During...
Bracey Company manufactures and sells one product. The following information pertains to the company's first year of op...
Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: $ 28 points Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 367,500 $ 389,550 $ 66,000 eBook The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 24,500 units and sold 22,700 units. The selling...
Walsh Company manufactures and sells one product. The following information pertains to each of the company's...
Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: Variable costs per unit Manufacturing Direct materials Direct labor 14 Variable manufacturing overhead 3 Variable selling and administrative Fixed costs per year: 240,000 Fixed manufacturing overhead Fixed selling and administrative expenses 80,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. its second year of operations, it p sold 50,000 selling of the product...
Zola Company manufactures and sells one product. The following
information pertains to the company’s first year of operations:
The company does not incur any variable manufacturing overhead
costs or variable selling and administrative expenses. During its
first year of operations, Zola produced 19,000 units and sold
15,200 units. The selling price of the company’s product is $53.20
per unit.
Required:
1. Assume the company uses super-variable costing:
a. Compute the unit product cost for the year.
b. Prepare an income...
EXERCISE 4A-1 Super-Variable Costing Income Statement L04-6 Zola Company manufactures and sells one product. The following information pertains to the company's first year of operations: $18 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $200,000 $250,000 $80,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Zola produced 25,000 units and sold 20,000 units. The...
Dattilio Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: $ 88 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $1,317,900 $2,349,300 $1,824,900 The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 57,300 units and sold 55,300 units. The company's only product is sold...
Ogilvy Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: $16 Variable cost per unit: Direct materials ... Fixed costs per year: Direct labor ........ Fixed manufacturing overhead ......... Fixed selling and administrative expenses .......... $540,000 $822,000 $370,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Ogilvy produced 60,000 units and sold 60,000 units. During...
Ogilvy Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: $ 22 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 910,000 $ 837,000 $ 236,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Ogilvy produced 65,000 units and sold 65,000 units. During...
Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: $ 28 points Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 367,500 $ 389,550 $ 66,000 eBook The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 24,500 units and sold 22,700 units. The selling...
Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: Variable costs per unit Manufacturing Direct materials Direct labor 14 Variable manufacturing overhead 3 Variable selling and administrative Fixed costs per year: 240,000 Fixed manufacturing overhead Fixed selling and administrative expenses 80,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. its second year of operations, it p sold 50,000 selling of the product...
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