Homework Answers
Answer to question No. 2 - Fill in the blanks -
Cost of ending inventory under variable costing -
ending inventory in units = 100000 - 80000
= 20000 units
manufacturing cost under variable costing = Direct material + Direct labor + variable manufacturing overhead
= 3 + 11 + 3
= $ 17
Ending inventory cost under variable costing = 20000 units @ $17
= 340000
Ending inventory cost under absorption costing = 20000 units @ 25
= 500000
The dollar difference in variable costing income and absorption costing income 20000 units @ 8 = $ 160000.
Please check with your answer and let me know.
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Trez Company began operations this year. During this first year, the company produced 100,000 units and...
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the company produced 100,000 units and sold 80,000 units. The
absorption costing income statement for this year follows.
Sales (80,000 units × $40 per unit)
$
3,200,000
Cost of goods sold
Beginning inventory
$
0
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2,000,000
Cost of goods available for sale
2,000,000
Ending inventory (20,000 × $20)
400,000
Cost of goods sold
1,600,000
Gross margin
1,600,000
Selling and administrative...
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19 Problem 19-2A Variable costing income statement and conversion to absorption costing income LO P2, P3...
19
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Trez Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows $3,600,000 Sales (80,000 units x 545 per unit) Cost of goods sold Beginning inventory Cost of goods manufactured (100,000 units X $25 per unit) Cost of goods available for sale Ending inventory (20,000 x $25) Cost of goods sold Gross margin Selling and administrative expenses Net income 2,500,000 2,500,000 500,000 2,000,000 1,6ee,...
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Trez Company began operations this year. During this first year,
the company produced 100,000 units and sold 80,000 units. The
absorption costing income statement for this year follows.
Sales (80,000 units × $40 per unit)
$
3,200,000
Cost of goods sold
Beginning inventory
$
0
Cost of goods manufactured (100,000 units × $20 per unit)
2,000,000
Cost of goods available for sale
2,000,000
Ending inventory (20,000 × $20)
400,000
Cost of goods sold
1,600,000
Gross margin
1,600,000
Selling and administrative...
Trez Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. $4,000, eee Sales (se, eee units * $50 per unit) Cost of goods sold Beginning inventory Cost of goods manufactured (100,eee units * $3e per unit) Cost of good avaitable for sale Ending inventory t2e,eee x $38) Cost of goods sold Gross margin Selling and administrative expenses Net income 3,eee eee 3,000,000...
19
Problem 19-2A Variable costing income statement and conversion to absorption costing income LO P2, P3 Trez Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. $4,000,000 Sales (80,000 units * $50 per unit) Cost of goods sold Beginning inventory Cost of goods manufactured (100,000 units X $30 per unit) Cost of good available for sale Ending inventory (20,000 $30) Coat of...
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