Homework Answers
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Units in ending inventory = 300 + 15000 - 12700 = 2600 units |
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Unit product cost = Direct Materials + Direct Labor + Variable Manufacturing Overhead = 20 + 60 + 12 = 92 |
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Value of ending inventory = 2600 * 92 = 239,200 |
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During the most recent year, Judson Company had the following data associated with the product it...
Inventory Valuation under Absorption Costing During the most recent year, Judson Company had the following data...
Inventory Valuation under Absorption Costing During the most recent year, Judson Company had the following data associated with the product it makes: Units in beginning inventory 300 Units produced 15,000 Units sold ($300 per unit) 12,700 Variable costs per unit: Direct materials $20 Direct labor $60 Variable overhead $12 Fixed costs: Fixed overhead per unit produced $30 Fixed selling and administrative $140,000 Required: 1. How many units are in ending inventory? $ units 2. Using absorption costing, calculate the per-unit...
#1 #2 Absorption-Costing Income Statement During the most recent year, Osterman Company had the following data:...
#1
#2
Absorption-Costing Income Statement
During the most recent year, Osterman Company had the following
data:
Units in beginning inventory
—
Units produced
10,000
Units sold ($47 per unit)
9,300
Variable costs per unit:
Direct materials
$9
Direct labor
$6
Variable overhead
$4
Fixed costs:
Fixed overhead per unit produced
$5
Fixed selling and administrative
$138,000
Required:
1. Calculate the cost of goods sold under
absorption costing.
$
2. Prepare an income statement using absorption
costing. Enter amounts as positive...
Inventory Valuation under Variable Costing During the most recent year, Judson Company had the following data...
Inventory Valuation under Variable Costing During the most recent year, Judson Company had the following data associated with the product it makes 300 15,000 12,700 Units in beginning inventory Units produced Units sold ($300 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $30 $140,000 Required: 1. How many units are in ending inventory? units 2. Using variable costing, calculate the per-unit product cost 3. What...
ployee Hours January $7,000 February 8,140 March 9,899 April 9,787 May 8,490 June 7,450 July 9,490...
ployee Hours January $7,000 February 8,140 March 9,899 April 9,787 May 8,490 June 7,450 July 9,490 August 7.531 310 Coefficients shown by a regression program for Pizza Vesuvio's data are: Intercept 4,517 X Variable 8.20 In your calculations, round the variable rate per employee hour to the nearest cent. Required: Use the results of regression to make the following calculations! 1. Calculate the fixed cost of labor. Calculate the variable rate per employee hour. per employee hour 2. Construct the...
During the most recent year, Osterman Company had the following data: Units in beginning inventory Units...
During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman Company Income Statement under Absorption Costing For the Most...
During the most recent year, Bledsoe Corp. had the following data: Beginning inventory in units -...
During the most recent year, Bledsoe Corp. had the following data: Beginning inventory in units - Units produced 14,500 Units sold ($120 per unit) 8,200 Variable costs per unit: Direct materials $ 13 Direct labor $ 16 Variable overhead $8 Fixed costs: Fixed overhead per unit produced $ 23 Fixed selling and administrative $ 135,000 Required: A. How many units are in ending inventory? B. Using absorption costing, calculate the per-unit product cost. What is the value of ending inventory?...
During the most recent year, Bledsoe Corp. had the following data: Beginning inventory in units -...
During the most recent year, Bledsoe Corp. had the following data: Beginning inventory in units - Units produced 14,500 Units sold ($120 per unit) 8,200 Variable costs per unit: Direct materials $ 13 Direct labor $ 16 Variable overhead $8 Fixed costs: Fixed overhead per unit produced $ 23 Fixed selling and administrative $ 135,000 Required: A. How many units are in ending inventory? B. Using absorption costing, calculate the per-unit product cost. What is the value of ending inventory?...
variable-Costing income Statement During the most recent year, Beyta Company had the following data: Units in...
variable-Costing income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced Units sold ($60 per unit) Variable costs per unit: Direct materials 10,000 8,800 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Beyta Company Income Statement under Variable Costing For the Most Recent Year...
Variable-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in...
Variable-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Beyta Company Income Statement under Variable Costing For the Most Recent Year
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials $9 $6 $4 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $5 $ 138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman Company...
Inventory Valuation under Absorption Costing During the most recent year, Judson Company had the following data associated with the product it makes: Units in beginning inventory 300 Units produced 15,000 Units sold ($300 per unit) 12,700 Variable costs per unit: Direct materials $20 Direct labor $60 Variable overhead $12 Fixed costs: Fixed overhead per unit produced $30 Fixed selling and administrative $140,000 Required: 1. How many units are in ending inventory? $ units 2. Using absorption costing, calculate the per-unit...
#1
#2
Absorption-Costing Income Statement
During the most recent year, Osterman Company had the following
data:
Units in beginning inventory
—
Units produced
10,000
Units sold ($47 per unit)
9,300
Variable costs per unit:
Direct materials
$9
Direct labor
$6
Variable overhead
$4
Fixed costs:
Fixed overhead per unit produced
$5
Fixed selling and administrative
$138,000
Required:
1. Calculate the cost of goods sold under
absorption costing.
$
2. Prepare an income statement using absorption
costing. Enter amounts as positive...
Inventory Valuation under Variable Costing During the most recent year, Judson Company had the following data associated with the product it makes 300 15,000 12,700 Units in beginning inventory Units produced Units sold ($300 per unit) Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $30 $140,000 Required: 1. How many units are in ending inventory? units 2. Using variable costing, calculate the per-unit product cost 3. What...
ployee Hours January $7,000 February 8,140 March 9,899 April 9,787 May 8,490 June 7,450 July 9,490 August 7.531 310 Coefficients shown by a regression program for Pizza Vesuvio's data are: Intercept 4,517 X Variable 8.20 In your calculations, round the variable rate per employee hour to the nearest cent. Required: Use the results of regression to make the following calculations! 1. Calculate the fixed cost of labor. Calculate the variable rate per employee hour. per employee hour 2. Construct the...
During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Enter amounts as positive numbers. Osterman Company Income Statement under Absorption Costing For the Most...
variable-Costing income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced Units sold ($60 per unit) Variable costs per unit: Direct materials 10,000 8,800 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Beyta Company Income Statement under Variable Costing For the Most Recent Year...
Variable-Costing Income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($60 per unit) 8,800 Variable costs per unit: Direct materials Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Beyta Company Income Statement under Variable Costing For the Most Recent Year
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials $9 $6 $4 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $5 $ 138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman Company...
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