Homework Answers
Part A
|
Fixed manufacturing overhead expensed |
$679059 |
Fixed manufacturing overhead expensed = Fixed manufacturing overhead * units sold / units produced = 927870*114900/157000 = $679059
Part B
|
Fixed manufacturing overhead expensed |
$927870 |
Part C
|
Fixed manufacturing overhead in ending inventory |
$248811 |
Fixed manufacturing overhead expensed = Fixed manufacturing overhead * units in ending inventory / units produced = 927870*42100/157000 = $248811
|
FMOH expensed under variable costing |
927870 |
|
FMOH expensed under full costing |
679059 |
|
Difference |
$248811 |
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Problem 5-13 The following information relates to Munchies Industries for fiscal 2017, the company's first year...
Problem 5-14 The following information relates to Pukalani Industries for fiscal 2017, the company’s first year...
Problem 5-14
The following information relates to Pukalani Industries for fiscal
2017, the company’s first year of operation:
Units produced
494,900
Units sold
448,800
Units in ending inventory
46,100
Fixed manufacturing overhead
$1,410,465
Calculate the amount of fixed manufacturing overhead that would
be expensed in 2017 using full costing. (Round fixed
manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and
final answer to 0 decimal places, e.g. 125.)
Fixed manufacturing overhead expensed
$
LINK TO TEXT
LINK TO...
Problem 5-15 The following information relates to Ridgewood Manufacturing for fiscal 2017, the company’s first year...
Problem 5-15
The following information relates to Ridgewood Manufacturing for
fiscal 2017, the company’s first year of operation:
Selling price per unit
$
149
Direct material per unit
$
74
Direct labor per unit
$
32
Variable manufacturing overhead per unit
$
5
Variable selling cost per dollar of sales
$
0.04
Annual fixed manufacturing overhead
$
2,440,000
Annual fixed selling expense
$
1,625,000
Annual fixed administrative expense
$
842,500
Units produced
244,000
Units sold
209,200
Prepare an income statement...
Exercise 5-11 to Exercise 5-18 Tri Town Manufacturing produces snow shovels. The selling price per snow...
Exercise 5-11 to Exercise 5-18
Tri Town Manufacturing produces snow shovels. The selling price per
snow shovel is $28.00. There is no beginning inventory.
Costs involved in production are:
Direct material
$6.00
Direct labor
4.00
Variable manufacturing overhead
4.00
Total variable manufacturing costs per unit
$14.00
Fixed manufacturing overhead per year
$196,560
In addition, the company has fixed selling and administrative costs
of $170,900 per year.
During the year, Tri Town produces 50,400 snow shovels and sells
45,390 snow shovels....
Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations...
Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $586,100. There was no ending work-in-process inventory. Total costs were $576,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $250,000 170,000 156,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $583,200. There was no ending work-in-process inventory. Total costs were $573,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $230,000 200,000 143,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Acme Industries, which produces just one product, provides the following information regarding its operations for 2019....
Acme Industries, which produces just one product, provides the following information regarding its operations for 2019. The firm uses LIFO to model inventory cost flows and has no work in process. Item Units Amount (total value) Amount for FMOH in total* Per unit (total) Per unit (FMOH) Opening finished goods inventory 2,000 $18,000 $4,000 $9.00 $2.00 Units completed (transfers from WIP) 145,000 1,319,500 297,250 9.10 2.05 Sold during 2019 Ending finished goods inventory 2,250 ? Revenue 1,650,000 SGA costs (80%...
Thank you. Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales...
Thank you.
Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales price Direct materials used Direct labor Manufacturing overhead Selling and administrative expense Units manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory 59.100 $12.800 $90,000 59.100 $98.000 $99.100 $21,400 18.000 units 20 200 units 23,100 units Under absorption costing, what is the unit product cost? (Round answer to 2 dec. Unit product cost LINK TO TEXT LINK TO TEXT LINK TO Under variable costing,...
The following information is available for Pembina Pools, a manufacturer of above-ground swimming pool kits: Total...
The following information is available for Pembina Pools, a manufacturer of above-ground swimming pool kits: Total 21,000 21,000 Units produced Units sold Selling price per unit Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per year Fixed selling and administrative expense per year 2017 12,690 10,500 $3,780 $770 $1,700 $289 $2,550,690 $1,492,000 2018 8,310 10,500 $3,780 $ 770 $1,700 $289 $2,550,690 $1,492,000 In its first year of operation, the company produced 12,690...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were produced, of which 9,500 were sold. Data concerning last year's operations appear here in New Taiwanese dollars, NTS): Revenue NT$ 33,820 Variable direct materials costs 2,247 Variable direct labour costs 3,638 Variable manufacturing overhead 2,782 Variable selling 950 Fixed manufacturing overhead 8,300 Fixed selling and administrative costs 14,858 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were produced, of which 9,400 were sold. Data concerning last year's operations appear here (in New Taiwanese dollars, NT$): Revenue Variable direct materials costs Variable direct labour costs Variable manufacturing overhead Variable selling Fixed manufacturing overhead Fixed selling and administrative costs NT$ 32,900 2,300 3,300 2,800 940 8,250 14,560 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Problem 5-14
The following information relates to Pukalani Industries for fiscal
2017, the company’s first year of operation:
Units produced
494,900
Units sold
448,800
Units in ending inventory
46,100
Fixed manufacturing overhead
$1,410,465
Calculate the amount of fixed manufacturing overhead that would
be expensed in 2017 using full costing. (Round fixed
manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and
final answer to 0 decimal places, e.g. 125.)
Fixed manufacturing overhead expensed
$
LINK TO TEXT
LINK TO...
Problem 5-15
The following information relates to Ridgewood Manufacturing for
fiscal 2017, the company’s first year of operation:
Selling price per unit
$
149
Direct material per unit
$
74
Direct labor per unit
$
32
Variable manufacturing overhead per unit
$
5
Variable selling cost per dollar of sales
$
0.04
Annual fixed manufacturing overhead
$
2,440,000
Annual fixed selling expense
$
1,625,000
Annual fixed administrative expense
$
842,500
Units produced
244,000
Units sold
209,200
Prepare an income statement...
Exercise 5-11 to Exercise 5-18
Tri Town Manufacturing produces snow shovels. The selling price per
snow shovel is $28.00. There is no beginning inventory.
Costs involved in production are:
Direct material
$6.00
Direct labor
4.00
Variable manufacturing overhead
4.00
Total variable manufacturing costs per unit
$14.00
Fixed manufacturing overhead per year
$196,560
In addition, the company has fixed selling and administrative costs
of $170,900 per year.
During the year, Tri Town produces 50,400 snow shovels and sells
45,390 snow shovels....
Exercise 17.25 Skysong Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $586,100. There was no ending work-in-process inventory. Total costs were $576,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $250,000 170,000 156,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Exercise 17.25 Flint Co. made 4,000 units of a product during its first year of operations and sold 3,000 units for $583,200. There was no ending work-in-process inventory. Total costs were $573,000, consisting of the following: Direct materials and direct labour Manufacturing overhead (45% fixed) Selling and administrative $230,000 200,000 143,000 Calculate the cost of the 1,000 units of finished goods ending inventory under actual variable costing. (Round variable manufacturing cost per unit to 3 decimal places, e.g. 15.125 and...
Thank you.
Exercise 13-7 The following data was prepared by the Wildhorse compan Variable Fixed Sales price Direct materials used Direct labor Manufacturing overhead Selling and administrative expense Units manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory 59.100 $12.800 $90,000 59.100 $98.000 $99.100 $21,400 18.000 units 20 200 units 23,100 units Under absorption costing, what is the unit product cost? (Round answer to 2 dec. Unit product cost LINK TO TEXT LINK TO TEXT LINK TO Under variable costing,...
The following information is available for Pembina Pools, a manufacturer of above-ground swimming pool kits: Total 21,000 21,000 Units produced Units sold Selling price per unit Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per year Fixed selling and administrative expense per year 2017 12,690 10,500 $3,780 $770 $1,700 $289 $2,550,690 $1,492,000 2018 8,310 10,500 $3,780 $ 770 $1,700 $289 $2,550,690 $1,492,000 In its first year of operation, the company produced 12,690...
Exercise 17.30 Splish Iron began last year with no inventories. During the year, 10,700 units were produced, of which 9,500 were sold. Data concerning last year's operations appear here in New Taiwanese dollars, NTS): Revenue NT$ 33,820 Variable direct materials costs 2,247 Variable direct labour costs 3,638 Variable manufacturing overhead 2,782 Variable selling 950 Fixed manufacturing overhead 8,300 Fixed selling and administrative costs 14,858 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
Exercise 17.30 Asian Iron began last year with no inventories. During the year, 10,500 units were produced, of which 9,400 were sold. Data concerning last year's operations appear here (in New Taiwanese dollars, NT$): Revenue Variable direct materials costs Variable direct labour costs Variable manufacturing overhead Variable selling Fixed manufacturing overhead Fixed selling and administrative costs NT$ 32,900 2,300 3,300 2,800 940 8,250 14,560 Variable manufacturing costs reflect the variable cost to produce the number of units manufactured. However, variable...
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