Estimated Income Statements, using Absorption and Variable Costing
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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...
Income Statements under Absorption Costing and Variable Costing
Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc, assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (4,000 units) $2,600,000 Production costs (4,350 units): Direct materials $1,218,000 Direct labor 522,000 Variable factory overhead 87,000 Fixed factory overhead 130,500 1,957,500 Selling and administrative expenses: Variable selling and administrative expenses $60,000 Fixed selling and administrative expenses 25,000 85,000a....
Explain the difference between variable costing and absorption costing income statements. Provide income statements in both...
Explain the difference between variable costing and absorption costing income statements. Provide income statements in both variable costing and absorption costing formats for an initial period and its successive period in a case where all manufactured products within the two periods are sold by the end of the second period, but number of units sold in the first period is less than the number of units manufactured in this period. What is the interesting observation in comparing the two types...
Consider the following comments about absorption- and variable-costing income statements: I. A variable-costing income statement discloses...
Consider the following comments about absorption- and variable-costing income statements: I. A variable-costing income statement discloses a firm's contribution margin. II. Cost of goods sold on an absorption-costing income statement includes fixed costs. III. The amount of variable selling and administrative cost is the same on absorption- and variable-costing income statements. Which of the above statements is (are) true? I only. II only. I and II. II and III. I, II, and III.
Testin llc uses variable costing and absorption costing. Using absorption costing income statement, fixed manufacturing overhead...
Testin llc uses variable costing and absorption costing. Using absorption costing income statement, fixed manufacturing overhead is? inevntoriable non inventortiable
llc uses variable costing and absorption costing. in the absorption costing income statement, variable administrative expenses...
llc uses variable costing and absorption costing. in the absorption costing income statement, variable administrative expenses are part of a. cost of goods sold b. period costs c. both d. neither
this is 1 question. Problem 6A-5 Super-Variable Costing, Variable Costing, and Absorption Costing Income Statements (LO6-2,...
this is 1 question.
Problem 6A-5 Super-Variable Costing, Variable Costing, and Absorption Costing Income Statements (LO6-2, LO6-6] Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: ts Variable cost per unit Direct materials 32 eBook Fixed costs per year Direct labor $450,500 $ 431,950 $ 74,000 Print Fixed nanufacturing overhead Fixed selling and administrative expenses eferences The company does not incur any variable manufacturing overhead costs or variable selling and administrative...
Ex 21-2 EX 21-2 Income statements income statements under absorption costing and variable costing Obj. 1...
Ex 21-2
EX 21-2 Income statements income statements under absorption costing and variable costing Obj. 1 Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: $2,600,000 Sales (4,000 units) ... Production costs (4,350 units): Direct materials Direct labor... Variable factory overhead ..................... Fixed factory overhead................... Selling and administrative expenses: Variable selling and administrative expenses..... Fixed...
Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of...
Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc. manufactured 6,400 hats, of which 5,200 were sold. Operating data for the month are summarized as follows: Sales $104,000 Manufacturing costs: Direct materials $47,360 Direct labor 22,400 Variable manufacturing cost 12,160 Fixed manufacturing cost 15,360 97,280 Selling and administrative expenses: Variable $10,920 Fixed 5,200 16,120 During August, Head Gear Inc. manufactured 4,000 hats and sold 5,200 hats....
Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of...
Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc. manufactured 28,200 hats, of which 26,200 were sold. Operating data for the month are summarized as follows: Sales $251,520 Manufacturing costs: Direct materials $155,100 Direct labor 39,480 Variable manufacturing cost 19,740 Fixed manufacturing cost 16,920 231,240 Selling and administrative expenses: Variable $13,100 Fixed 9,560 22,660 During August, Head Gear Inc. manufactured 24,200 hats and sold 26,200 hats....
Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc, assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (4,000 units) $2,600,000 Production costs (4,350 units): Direct materials $1,218,000 Direct labor 522,000 Variable factory overhead 87,000 Fixed factory overhead 130,500 1,957,500 Selling and administrative expenses: Variable selling and administrative expenses $60,000 Fixed selling and administrative expenses 25,000 85,000a....
this is 1 question.
Problem 6A-5 Super-Variable Costing, Variable Costing, and Absorption Costing Income Statements (LO6-2, LO6-6] Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: ts Variable cost per unit Direct materials 32 eBook Fixed costs per year Direct labor $450,500 $ 431,950 $ 74,000 Print Fixed nanufacturing overhead Fixed selling and administrative expenses eferences The company does not incur any variable manufacturing overhead costs or variable selling and administrative...
Ex 21-2
EX 21-2 Income statements income statements under absorption costing and variable costing Obj. 1 Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: $2,600,000 Sales (4,000 units) ... Production costs (4,350 units): Direct materials Direct labor... Variable factory overhead ..................... Fixed factory overhead................... Selling and administrative expenses: Variable selling and administrative expenses..... Fixed...
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