Homework Answers
| net income from variable costing | 70,000 | |||||
| less: | Fixed overhead released in beginning | |||||
| inventory | 360000 | |||||
| Add: | fixed overhead deferred in ending | |||||
| inventory | 400000 | |||||
| net income under full costing | 110,000 | answer | ||||
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A company's operating income was $70,000 using variable costing for a given period. Beginning and ending...
.Consider the following: Net operating income under variable costing $50,000. Decrease in inventory during the period...
.Consider the following: Net operating income under variable costing $50,000. Decrease in inventory during the period 5,000 units. Fixed manufacturing overhead $100,000. Number of units produced during the period 25,000 units. Based on the above information, the net income under absorption costing is: a. $150,000 b. $70,000 c. $30,000 d. $50,000
Consider the following information: Net operating income under variable costing $50,000 Decrease in inventory during the...
Consider the following information: Net operating income under variable costing $50,000 Decrease in inventory during the period 5,000 units Fixed manufacturing overhead $100,000 Number of units produced during the period 25,000 units Based on the above information, the net income under absorption costing is: $70,000 $50,000 $150,000 $30,000
Which of the following statements is true about the difference in operating income between variable costing...
Which of the following statements is true about the difference in operating income between variable costing and absorption costing if the number of units in work-in- process and finished goods inventories increase? A) There will be no difference in net income. O B) Operating income computed using variable costing will be higher. c) The difference in operating income cannot be determined from the information given D) Operating income computed using variable costing will be lower.
Question 18 Consider the following information: Net operating income under variable costing $50,000 Decrease in inventory...
Question 18 Consider the following information: Net operating income under variable costing $50,000 Decrease in inventory during the period 5,000 units Fixed manufacturing overhead $100,000 Number of units produced during the period 25,000 units Based on the above information, the net income under absorption costing is: O $70.000 O $50,000 O $150.000 O $30,000
Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and...
Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 45,000 units during the month with the following unit costs: Direct materials Direct labor Variable overhead Fixed overhead Variable marketing cost Fixed overhead per unit $ Total fixed factory overhead is $315,000 per month. During October, 44,000 units were sold at a price of $26, and fixed marketing and administrative expenses were $116,300. Required $5.00 3.00 1.50 7.00 1.20 31,000/45,000 units produced-$7.00 1....
Jeter Corporation had net income of $215,000 based on variable costing. Beginning and ending inventories were...
Jeter Corporation had net income of $215,000 based on variable costing. Beginning and ending inventories were 6,300 units and 10,600 units, respectively. Assume the fixed overhead per unit was $5 for both the beginning and ending inventory. What is net income under absorption costing?
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...
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....
l Question 10 Consider the following information: Net operating income under variable costing Increase in inventory...
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Question 10 Consider the following information: Net operating income under variable costing Increase in inventory during the period Fixed manufacturing overhead Number of units produced during the period $25,000 2,000 units $50,000 10,000 units Based on the above information, the net operating income under absorption costing is: O $15,000 $35,000 O $75,000 O $10,000
3. Reconcile the difference between variable costing and absorption costing net operating income in year 1...
3. Reconcile the difference between variable costing and absorption costing net operating income in year 1 and year 2. Year 1 Year 2 Variable costing net operating income (loss) Absorption costing net operating income (loss) $ 0 $ 0 Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: - 14 Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs...
Which of the following statements is true about the difference in operating income between variable costing and absorption costing if the number of units in work-in- process and finished goods inventories increase? A) There will be no difference in net income. O B) Operating income computed using variable costing will be higher. c) The difference in operating income cannot be determined from the information given D) Operating income computed using variable costing will be lower.
Question 18 Consider the following information: Net operating income under variable costing $50,000 Decrease in inventory during the period 5,000 units Fixed manufacturing overhead $100,000 Number of units produced during the period 25,000 units Based on the above information, the net income under absorption costing is: O $70.000 O $50,000 O $150.000 O $30,000
Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 45,000 units during the month with the following unit costs: Direct materials Direct labor Variable overhead Fixed overhead Variable marketing cost Fixed overhead per unit $ Total fixed factory overhead is $315,000 per month. During October, 44,000 units were sold at a price of $26, and fixed marketing and administrative expenses were $116,300. Required $5.00 3.00 1.50 7.00 1.20 31,000/45,000 units produced-$7.00 1....
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....
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Question 10 Consider the following information: Net operating income under variable costing Increase in inventory during the period Fixed manufacturing overhead Number of units produced during the period $25,000 2,000 units $50,000 10,000 units Based on the above information, the net operating income under absorption costing is: O $15,000 $35,000 O $75,000 O $10,000
3. Reconcile the difference between variable costing and absorption costing net operating income in year 1 and year 2. Year 1 Year 2 Variable costing net operating income (loss) Absorption costing net operating income (loss) $ 0 $ 0 Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: - 14 Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs...
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