Homework Answers
| Answer: | |
| Particulars | Amount (in $ ) |
| Finished goods inventory, December 31, 2015 | 14,000 Units |
| Less: Finished goods inventory, January 1, 2015 | 12,000 Units |
| Change in Inventory | 2,000 Units |
| x Budgeted fixed overhead cost rate | $ 2 |
| Difference in operating income between Absorption Costing and variable costing | $ 4,000 |
| Option (D) is Correct |
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This Question: 1 pt 1 of 1 Johnson Company has the following information available at the...
16) San Diego company has the following information available at the end of the fiscal year:...
16) San Diego company has the following information available at the end of the fiscal year: Finished goods inventory, January 1, 2015 12,000 units Finished goods inventory, December 31, 2015 14,000 units Work in process inventory, January 1, 2015 10,000 units Work in process inventory, December 31, 2015 11,000 units Raw materials inventory, January 1, 2015 1,000 units Raw materials inventory, December 31, 2015 5,000 units Actual fixed overhead cost rate $2.05 per unit Actual variable overhead cost rate $3.10...
Trio Company reports the following information for the current year, which is its first year of...
Trio Company reports the following information for the current year, which is its first year of operations. ta ta 14 per unit 20 per unit Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units ta ta 3 per unit $ 120,000 per year 20,000 units 14,000 units 6,000 units 1. Compute the product cost per unit using absorption costing. Cost per unit...
Trio Company reports the following information for the current year, which is its first year of...
Trio Company reports the following information for the current year, which is its first year of operations. A 15 per unit 18 per unit A A Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 3 per unit $ 135,000 per year 22,500 units 16,500 units 6, ᎾᎾᎾ units 1. Compute the product cost per unit using absorption costing. Cost per unit...
Trio Company reports the following information for the current year, which is its first year of...
Trio Company reports the following information for the current year, which is its first year of operations. Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units $ 14 per unit $ 16 per unit $ 3 per unit $ 150,000 per year 25,000 units 19,000 units 6,000 units 1. Compute the product cost per unit using absorption costing. Cost per unit of...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw materials inventory $26,010 Work in process inventory 18,560 Finished goods inventory 28,900 Materials purchased $155,770 Direct labor 224,700 Manufacturing overhead 182,460 Sales revenue 905,040 December 31, 2020 $34,130 19,620 24,050 Your answer is partially correct. Try again. Compute cost of goods manufactured. Alkman Company Cost of Goods Manufactured Schedule 18560 work-in -Process Inventory, 1/2 "Direct Materials Raw Materials Inventory, 1/1 Materials Purchased Materials Available...
Trio Company reports the following information for the current year, which is its first year of operations. Dir...
Trio Company reports the following information for the current
year, which is its first year of operations.
Direct materials
$
13
per unit
Direct labor
$
19
per unit
Overhead costs for the year
Variable overhead
$
45,000
per year
Fixed overhead
$
90,000
per year
Units produced this year
22,500
units
Units sold this year
16,500
units
Ending finished goods inventory in units
6,000
units
Compute the product cost per unit using absorption costing. Cost per unit of finished...
16 Trio Company reports the following information for the current year, which is its first year...
16 Trio Company reports the following information for the current year, which is its first year of operations. $ $ 11 per unit 18 per unit 00:35:35 Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units $ 3 per unit $ 135,000 per year 22,500 units 16,500 units 6,000 units 1. Compute the product cost per unit using absorption costing. Cost per...
Trio Company reports the following information for the current year, which is its first year of...
Trio Company reports the following information for the current year, which is its first year of operations 15 per u Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inve 80,000 per ye 160,000 per ye 20,000 units 14,000 units 6,000 Compute the product cost per unit using absorption costing. Cost per unit of finished goods using: Absorption costing Fixed overhead per unit $ 160,000...
1. Compute the value of Outback Corporation’s 20x1 ending finished-goods inventory under absorption costing. (Do not...
1. Compute the value of Outback Corporation’s 20x1 ending
finished-goods inventory under absorption costing. (Do not round
intermediate calculations.)
2. Compute the value of Outback Corporation’s 20x1 ending
finished-goods inventory under variable costing. (Do not round
intermediate calculations.)
3. Compute the difference between Outback Corporation’s 20x1
reported operating income calculated under absorption costing and
calculated under variable costing. (Do not round intermediate
calculations.)
Outback Corporation manufactures tactical LED flashlights in Brisbane, Australia. The firm uses an absorption costing system for...
Trio Company reports the following information for the current year, which is its first year of operations. 14 per...
Trio Company reports the following information for the current year, which is its first year of operations. 14 per unit 18 per unit points Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units $ 67,500 per year $ 135,000 per year 22,500 units 16,500 units 6,000 units eBook Hent Prins References Compute the product cost per unit using absorption costing. Cost per...
Trio Company reports the following information for the current year, which is its first year of operations. ta ta 14 per unit 20 per unit Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units ta ta 3 per unit $ 120,000 per year 20,000 units 14,000 units 6,000 units 1. Compute the product cost per unit using absorption costing. Cost per unit...
Trio Company reports the following information for the current year, which is its first year of operations. A 15 per unit 18 per unit A A Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units 3 per unit $ 135,000 per year 22,500 units 16,500 units 6, ᎾᎾᎾ units 1. Compute the product cost per unit using absorption costing. Cost per unit...
Trio Company reports the following information for the current year, which is its first year of operations. Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units $ 14 per unit $ 16 per unit $ 3 per unit $ 150,000 per year 25,000 units 19,000 units 6,000 units 1. Compute the product cost per unit using absorption costing. Cost per unit of...
Exercise 14-14 a-c The following information is available for Aikman Company January 1, 2020 2020 Raw materials inventory $26,010 Work in process inventory 18,560 Finished goods inventory 28,900 Materials purchased $155,770 Direct labor 224,700 Manufacturing overhead 182,460 Sales revenue 905,040 December 31, 2020 $34,130 19,620 24,050 Your answer is partially correct. Try again. Compute cost of goods manufactured. Alkman Company Cost of Goods Manufactured Schedule 18560 work-in -Process Inventory, 1/2 "Direct Materials Raw Materials Inventory, 1/1 Materials Purchased Materials Available...
Trio Company reports the following information for the current
year, which is its first year of operations.
Direct materials
$
13
per unit
Direct labor
$
19
per unit
Overhead costs for the year
Variable overhead
$
45,000
per year
Fixed overhead
$
90,000
per year
Units produced this year
22,500
units
Units sold this year
16,500
units
Ending finished goods inventory in units
6,000
units
Compute the product cost per unit using absorption costing. Cost per unit of finished...
16 Trio Company reports the following information for the current year, which is its first year of operations. $ $ 11 per unit 18 per unit 00:35:35 Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units $ 3 per unit $ 135,000 per year 22,500 units 16,500 units 6,000 units 1. Compute the product cost per unit using absorption costing. Cost per...
Trio Company reports the following information for the current year, which is its first year of operations 15 per u Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inve 80,000 per ye 160,000 per ye 20,000 units 14,000 units 6,000 Compute the product cost per unit using absorption costing. Cost per unit of finished goods using: Absorption costing Fixed overhead per unit $ 160,000...
1. Compute the value of Outback Corporation’s 20x1 ending
finished-goods inventory under absorption costing. (Do not round
intermediate calculations.)
2. Compute the value of Outback Corporation’s 20x1 ending
finished-goods inventory under variable costing. (Do not round
intermediate calculations.)
3. Compute the difference between Outback Corporation’s 20x1
reported operating income calculated under absorption costing and
calculated under variable costing. (Do not round intermediate
calculations.)
Outback Corporation manufactures tactical LED flashlights in Brisbane, Australia. The firm uses an absorption costing system for...
Trio Company reports the following information for the current year, which is its first year of operations. 14 per unit 18 per unit points Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Units produced this year Units sold this year Ending finished goods inventory in units $ 67,500 per year $ 135,000 per year 22,500 units 16,500 units 6,000 units eBook Hent Prins References Compute the product cost per unit using absorption costing. Cost per...
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