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Inventory Valuation under Absorption and Variable Costing The following information pertains to Synergy Inc. for last...
1. Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 6,700 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $38.30 Direct labor 13.80 Fixed factory overhead 5.30 Variable factory overhead 4.70 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing...
Inventory Valuation under Absorption Costing During the most recent year, Judson Company had the following data associated with the product it makes: Units in beginning inventory 300 Units produced 15,000 Units sold ($300 per unit) 12,700 Variable costs per unit: Direct materials $20 Direct labor $60 Variable overhead $12 Fixed costs: Fixed overhead per unit produced $30 Fixed selling and administrative $140,000 Required: 1. How many units are in ending inventory? $ units 2. Using absorption costing, calculate the per-unit...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2,500 350 80 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 - 3,000 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 60 10 75 37,500...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,900 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $34.70 Direct labor 20.50 Fixed factory overhead 6.20 Variable factory overhead 5.50 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costings Variable costing $ Feedback...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,600 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $27.20 Direct labor 18.60 Fixed factory overhead 5.10 Variable factory overhead 4.50 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept Absorption costing Variable costing
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $38.00 Direct labor 14.40 Fixed factory overhead 6.10 Variable factory overhead 5.40 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $37.70 Direct labor 14.30 Fixed factory overhead 6.80 Variable factory overhead 6.00 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $
Variable vs. Absorption Costing Selling price per unit 50.00 No Video for this worksheet $ Mandturing cost Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year 11.00 6.00 REQUIRED: Calculate the unit cost and prepare a traditional Income statements using absorption costing. Calculate the unit cost and prepare a variable costing Income statement. Check your work using the values on the check figure tab. $ 120,000 Selling and administrative expenses Variable per unit...
Inventory Valuation under Variable Costing During the most recent year, Judson Company had the following data associated with the product it makes 300 15,000 12,700 Units in beginning inventory Units produced Units sold ($300 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $30 $140,000 Required: 1. How many units are in ending inventory? units 2. Using variable costing, calculate the per-unit product cost 3. What...
Unit Costs, Inventory Valuation, Variable and Absorption Costing Snyder Company produced 80,900 units during its first year of operations and sold 77,100 at $21.60 per unit. The company chose practical activity—at 80,900 units—to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials $457,085 Direct labor 87,372 Expected and actual variable overhead 300,139 Expected and actual fixed overhead 432,006 Required: If required, round unit cost answers to the nearest cent. 1. Calculate the unit cost and the cost...