Question

managerial accounting

MAP One makes maple syrup in Canada. In 2019 it made 220,000 400gr bottle of syrups and sold 190,000 of them, at an average selling price of $25 per unit. The following additional information relates to Athabasca Auto for 2019:

Direct Materials

$10.00 per unit

Direct manufacturing labour

$2.00 per unit

Variable manufacturing costs

$4.00 per unit

Sales commissions

$3.00 per part

Fixed manufacturing costs

$750,000 per year

Fixed administrative expenses

$270,000 per year

What is Athabasca Auto manufacturing cost per unit using

a. Variable costing system

b. Absorption costing system

table with that

Appendix Table: Table 2 Present Value of $1 P In this table S = $1. Periods 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 0.980 0.962 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 2 2 0.961 0.925 0.890 0.857 0.826 0.797 0.769 0.743 0.718 0.694 3 3 0.942 0.889 0.840 0.794 0.751 0.712 0.675 0.641 0.609 0.579 0.924 0.855 0.792 0.735 0.683 0.636 0.592 0.552 0.516 0.482 5 0.906 0.822 0.747 0.681 0.621 0.567 0.519 0.476 0.437 0.402 CO 0.888 0.790 0.705 0.630 0.564 0.507 0.456 0.410 0.370 0.335 7 0.871 0.760 0.665 0.583 0.513 0.452 0.400 0.354 0.314 0.279 8 8 0.853 0.731 0.627 0.540 0.467 0.404 0.351 0.305 0.266 0.233 9 0.837 0.703 0.592 0.500 0.424 0.361 0.308 0.263 0.225 0.194 10 0.820 0.676 0.558 0.463 0.386 0.322 0.270 0.227 0.191 0.162

Answer 1

a	Income Statement under variable costing
			Working	Amount $
	Opening Inventory	a		0
	Unit produced	b		220000
	Unit Sold	c		190000
	Closing Inventory	d=a+b-c		30000
	Sales	e=c*$25		47,50,000
	Cost of good sold
	Opening Inventory	f	$                         -
	Direct material	g=b*$10	$     22,00,000.00
	Direct Labour	h=b*$2	$       4,40,000.00
	Variable manufacturing OH	i=b*$4	$       8,80,000.00
	Cost of good manufactured	J=g+h+i	$    35,20,000.00
	Less : Closing Inventory	k=j/b*d	$       4,80,000.00
	Less: Cost of good sold	l=f+j-k		30,40,000
	Manufacturing Margin	m=e-l		17,10,000
	Variable Selling & Admin	n=c*$3		5,70,000
	Contribution Margin	o=m-n		11,40,000
	Less : Fixed expenses
	Fixed Manufacturing OH Cost	p		7,50,000
	Fixed marketing cost	q		2,70,000
	Net Operating Income/(loss)	r=o-p-q		1,20,000
	What is the unit product cost for the year using variable costing?
	Unit Product cost = Cost of good manufactured / Unit Produced
	Unit Product cost (J/B)	16
b	Income Statement under absorption costing
			Working	Amount $
	Opening Inventory	a		0
	Unit produced	b		220000
	Unit Sold	c		190000
	Closing Inventory	d=a+b-c		30000
	Sales	e=c*$25		$        47,50,000
	Cost of good sold
	Opening Inventory	f	$                         -
	Direct material	g=b*$10	$     22,00,000.00
	Direct Labour	h=b*$2	$       4,40,000.00
	Variable manufacturing OH	i=b*$4	$       8,80,000.00
	Fixed Manufacturing OH Cost	j	$       7,50,000.00
	Cost of good manufactured	k=g+h+i+j	$    42,70,000.00
	Less : Closing Inventory	l=k/b*d	$       5,82,272.73
	Less: Cost of good sold	m=f+k-l		$        36,87,727
	Gross Profit	n=e-m		$        10,62,273
	Less : Selling expenses
	Variable Selling & Admin	o=c*$3		$          5,70,000
	Fixed marketing cost	p		$          2,70,000
	Net Operating Income/(loss)	q=n-o-p		$          2,22,273
					Add a comment Know the answer? Add Answer to: managerial accounting MAP One makes maple syrup in Canada. In 2019 it made 220,000 400gr bottle... Your Answer: Post as a guest Your Name: What's your source? Earn Coins Coins can be redeemed for fabulous gifts. Log In Sign Up Post as anonymous Post Your Answer Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free. Similar Homework Help Questions MAP One makes maple syrup in Canada. In 2019 it made 220,000 400gr bottle of syrups... MAP One makes maple syrup in Canada. In 2019 it made 220,000 400gr bottle of syrups and sold 190,000 of them, at an average selling price of $25 per unit. The following additional information relates to Athabasca Auto for 2019: Direct Materials $10.00 per unit Direct manufacturing labour $2.00 per unit Variable manufacturing costs $4.00 per unit Sales commissions $3.00 per part Fixed manufacturing costs $750,000 per year Fixed administrative expenses $270,000 per year What is Athabasca Auto manufacturing cost... Question 4: Inventory Valuation Suggested time: 15 minutes MAP One makes maple syrup in Canada. In... Question 4: Inventory Valuation Suggested time: 15 minutes MAP One makes maple syrup in Canada. In 2019 it made 220,000 400gr bottle of syrups and sold 190,000 of them, at an average selling price of $25 per unit. The following additional information relates to Athabasca Auto for 2019: Direct Materials $10.00 per unit Direct manufacturing labour $2.00 per unit Variable manufacturing costs $4.00 per unit Sales commissions $3.00 per unit Fixed manufacturing costs $750,000 per year Fixed administrative expenses $270,000... Present Value of S1 8% 10.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.8930.8770.8700.862... Present Value of S1 8% 10.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.8930.8770.8700.862 0.847 0.833 2 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.79707690.7560.743 0.718 0.694 3 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.7940.772 0.7510.7120.6750.6580.640.609 0.579 4 0.961 0.924 0.888 0.855 0.823 0.792 0763 0.735 0.708 0.683 0.6360.592 0.5720.552 0.516 0.482 50.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.6210.56705190497 0476 0.4370.402 6 0.942 0.888 0.837 0.790 0746 0.705 0.666 0.630 0.596... 0.713 0.822 0.790 0.760 0.784 0.746 0.711 0.677 0.747 0.705 0.665 0.650 0.567 0.543 0.497 0.432... 0.713 0.822 0.790 0.760 0.784 0.746 0.711 0.677 0.747 0.705 0.665 0.650 0.567 0.543 0.497 0.432 0.376 0.476 0.456 0.437 5 0.951 0.906 0.863 0.681 0.621 0.593 0.519 0.419 0.402 0.888 0.564 0.513 0.352 0.942 0.933 0.837 0.666 0.630 0.596 0.535 0.507 0.480 0.456 0.410 0.390 0.370 0.335 0.871 0.547 0.482 0.354 0.333 0.285 0.314 0.813 0.452 0.425 0.400 0.279 0.623 0.583 0.296 0.540 0.500 0.327 0.923 0.853 0.789 0.731 0.627 0.582 0.502 0.467 0.434 0.404 0.376 0.351 0.305 0.266... 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