Homework Answers
| Calculation of Income using absorption Costing | |||
| Particulars | Year 1 $ | Year 2 $ | Year 3 $ |
| Variable costing income | $115,000.00 | $119,400.00 | $123,950.00 |
| (Less) Fixed OH in beginning Inventory | $ - | $ 4,350.00 | $ 2,850.00 |
| Add FixedOH in ending Inventory | $ 4,350.00 | $ 2,850.00 | $ 3,150.00 |
| Absorption Costing income | $119,350.00 | $117,900.00 | $124,250.00 |
Fixed oh = Fixed oh per unit * number of units
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Exercise 18-26B Computing absorption costing income LO P5 A manufacturer reports the information below for three...
Exercise 18-26B Computing absorption costing income LO P5 A manufacturer reports the information below for three...
Exercise 18-26B Computing absorption costing income LO P5 A manufacturer reports the information below for three recent years. ek Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed manufacturing overhead per unit Year 1 Year 2 Year 3 $115,000 $119,400 $123,950 0 1,450 950 1,450 950 1,050 $ 3.00 $ 3.00 $ 3.00 at ences Compute income for each of the three years using absorption costing. Year 1 ear 2 Year 3 Variable costing income...
Exercise 06-1 Computing unit and inventory costs under absorption costing LO P1 Trio Company reports the...
Exercise 06-1 Computing unit and inventory costs under absorption costing LO P1 Trio Company reports the following information for the current year, which is its first year of operations. 15 per unit 16 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 4 per unit $ 160,000 per year 20,000 units 14,000 units 6,000 units 1. Compute the product cost...
QS 18-17B Computing unit cost under absorption costing LO P5 Vijay Company reports the following information...
QS 18-17B Computing unit cost under absorption costing LO P5 Vijay Company reports the following information regarding its production costs. Direct materials 9.70 per unit 19.70 per unit Direct labor Overhead costs for the year Variable overhead 9.70 per unit $130,900 17,000 units Fixed overhead Units produced Compute its product cost per unit under absorption costing. Product cost per unit
QS 18-20B Absorption costing income statement LO P5 Aces Inc., a manufacturer of tennis rackets, began...
QS 18-20B Absorption costing income statement LO P5 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overhead costs are $60,000, and fixed selling and administrative costs are $64,200. The company also reports the following per unit costs for the year: Variable production costs Variable selling and administrative expenses $24.00 $ 1.00 Required: Prepare an income statement under absorption costing....
Exercise 19-1 Computing unit and inventory costs under absorption costing LO P1 1.25 points Trio Company...
Exercise 19-1 Computing unit and inventory costs under absorption costing LO P1 1.25 points Trio Company reports the following information for the current year, which is its first year of operations. 15 per unit 18 per unit eBook Hint 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 $ 75,000 per year $ 150,000 per year 25,000 units 19,000 units 6,000 units...
Blenders Blenders and Mixers Inc. provided the below information below for three recent years. Year 1...
Blenders
Blenders and Mixers Inc. provided the below information below for three recent years. Year 1 $110,000 Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed manufacturing overhead per unit Year 2 $114,400 1,200 700 $ 2.50 Year 3 $118,950 700 800 $ 2.50 $ 1,200 2.50 Compute income for each of the three years using absorption costing. Year 1 Year 2 Year 3 Absorption costing income
PA5-5 (Algo) Comparing Full Absorption and Variable Costing [LO 55-1] Consider the following information for Presidio...
PA5-5 (Algo) Comparing Full Absorption and Variable Costing [LO 55-1] Consider the following information for Presidio Inc.'s most recent year of operations. $ Number of units produced Number of units sold Sales price per unit Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($270,940 + 2,300 units) Total variable selling expenses ($13 per unit sold) Total fixed general and administrative expenses 2,300 1,450 620.00 60.00 90.00 40.00 117.80 19,850.00 73,000.00...
15 MC Qu. 174 A manufacturer reports the following information... A manufacturer reports the following informatio...
15 MC Qu. 174 A manufacturer reports the following information... A manufacturer reports the following information below for its first three years in operation. 2.05 points 8 00:58:27 Year 1 Year 2 Year 3 $92,000 $125,000 $131,000 960 580 960 580 $ 12.00 $ 12.00 $ 12.00 Income under variable costing Beginning inventory (units) Ending inventory (units) Fixed manufacturing overhead per unit eBook Income for year 3 using absorption costing is: Multiple Choice $120,440 0 $138,920
Exercise 06-2 Computing unit and inventory costs under variable costing LO P1 Trio Company reports the following i...
Exercise 06-2 Computing unit and inventory costs under variable costing LO P1 Trio Company reports the following information for the current year, which is its first year of operations. Assume instead that Trio Company uses variable costing $ 15 per unit 16 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 4 per unit $ 160,000 per year 20,800 units...
! Required information Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 The...
! Required information Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 The following information applies to the questions displayed below.) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 330 per unit 100,000 units 103,250 units 3,250 units $ 422,500 260,000 $ 682,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $130)...
Exercise 18-26B Computing absorption costing income LO P5 A manufacturer reports the information below for three recent years. ek Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed manufacturing overhead per unit Year 1 Year 2 Year 3 $115,000 $119,400 $123,950 0 1,450 950 1,450 950 1,050 $ 3.00 $ 3.00 $ 3.00 at ences Compute income for each of the three years using absorption costing. Year 1 ear 2 Year 3 Variable costing income...
Exercise 06-1 Computing unit and inventory costs under absorption costing LO P1 Trio Company reports the following information for the current year, which is its first year of operations. 15 per unit 16 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 4 per unit $ 160,000 per year 20,000 units 14,000 units 6,000 units 1. Compute the product cost...
QS 18-17B Computing unit cost under absorption costing LO P5 Vijay Company reports the following information regarding its production costs. Direct materials 9.70 per unit 19.70 per unit Direct labor Overhead costs for the year Variable overhead 9.70 per unit $130,900 17,000 units Fixed overhead Units produced Compute its product cost per unit under absorption costing. Product cost per unit
QS 18-20B Absorption costing income statement LO P5 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overhead costs are $60,000, and fixed selling and administrative costs are $64,200. The company also reports the following per unit costs for the year: Variable production costs Variable selling and administrative expenses $24.00 $ 1.00 Required: Prepare an income statement under absorption costing....
Exercise 19-1 Computing unit and inventory costs under absorption costing LO P1 1.25 points Trio Company reports the following information for the current year, which is its first year of operations. 15 per unit 18 per unit eBook Hint 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 $ 75,000 per year $ 150,000 per year 25,000 units 19,000 units 6,000 units...
Blenders
Blenders and Mixers Inc. provided the below information below for three recent years. Year 1 $110,000 Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed manufacturing overhead per unit Year 2 $114,400 1,200 700 $ 2.50 Year 3 $118,950 700 800 $ 2.50 $ 1,200 2.50 Compute income for each of the three years using absorption costing. Year 1 Year 2 Year 3 Absorption costing income
PA5-5 (Algo) Comparing Full Absorption and Variable Costing [LO 55-1] Consider the following information for Presidio Inc.'s most recent year of operations. $ Number of units produced Number of units sold Sales price per unit Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($270,940 + 2,300 units) Total variable selling expenses ($13 per unit sold) Total fixed general and administrative expenses 2,300 1,450 620.00 60.00 90.00 40.00 117.80 19,850.00 73,000.00...
15 MC Qu. 174 A manufacturer reports the following information... A manufacturer reports the following information below for its first three years in operation. 2.05 points 8 00:58:27 Year 1 Year 2 Year 3 $92,000 $125,000 $131,000 960 580 960 580 $ 12.00 $ 12.00 $ 12.00 Income under variable costing Beginning inventory (units) Ending inventory (units) Fixed manufacturing overhead per unit eBook Income for year 3 using absorption costing is: Multiple Choice $120,440 0 $138,920
Exercise 06-2 Computing unit and inventory costs under variable costing LO P1 Trio Company reports the following information for the current year, which is its first year of operations. Assume instead that Trio Company uses variable costing $ 15 per unit 16 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 4 per unit $ 160,000 per year 20,800 units...
! Required information Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 The following information applies to the questions displayed below.) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. 330 per unit 100,000 units 103,250 units 3,250 units $ 422,500 260,000 $ 682,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,250 units x $130)...
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