Homework Answers
| Beg Inventory | 7500 | 10000 | ||
| Closing Inventory | 10000 | 9000 | (10000+11000-12000) | |
| Units sold | 10000 | 12000 | ||
| Units Produced | 12500 | 11000 | ||
| Sale price | 500 | |||
| 10% Commission | 50 | |||
| Net Sale Price | 450 | |||
| Direct Material | 50 | |||
| Direct labour | 100 | |||
| Variable O/hs | 60 | |||
| Absorbed fixed Man. O/hs | 60 | |||
| (750000/12500) | ||||
| Contribution per Unit | 180 | |||
| Total Contribution | 1800000 | |||
| Selling & Admin Exp | 180000 | |||
| Absorption Costing | 2013 | 2014 | ||
| Sales | 5000000 | 6000000 | ||
| Less : COGS | ||||
| Beg Inventory (7500*(50+100+60+60)) | 2025000 | 2700000 | ||
| Cost of goods Manufactured (12500*270) | 3375000 | 2970000 | ||
| Less : closing Stock (10000*270) | 2700000 | 2700000 | 2430000 | 3240000 |
| Gross Margin | 2300000 | 2760000 | ||
| Less: Selling & Admin exp | ||||
| Variable (10000*500*10/100) | 500000 | 550000 | ||
| Fixed Selling Ohs | 180000 | 680000 | 180000 | 730000 |
| Net Income | 1620000 | 2030000 | ||
| Variable Costing | 2013 | 2014 | ||
| Sales | 5000000 | 6000000 | ||
| Less : Variable exp | ||||
| Beg Inventory (7500*(50+100+60)) | 1575000 | 2100000 | ||
| Cost of goods Manufactured (12500*210) | 2625000 | 2310000 | ||
| Less : closing Stock (10000*210) | 2100000 | 2100000 | 1890000 | 2520000 |
| Add: Selling Commission | 500000 | 600000 | ||
| Gross Margin | 2900000 | 3480000 | ||
| Less: Fixed Exp | ||||
| Fixed Manufacturing O/hs | 750000 | 750000 | ||
| Fixed Selling Ohs | 180000 | 930000 | 180000 | 930000 |
| Net Income | 1970000 | 2550000 | ||
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LO.6&LO.7 (Absorption and variable costing) Bird's Eye View manufactures sat ellite dishes used in residential and...
! 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)...
Problem 19-2A Variable costing income statement and conversion to absorption costing income LO P2, P3 is...
Problem 19-2A Variable costing income statement and conversion to absorption costing income LO P2, P3 is 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 $45 per unit) Cost of goods sold $3,600,000 Beginning inventory Cost of goods manufactured (100,000 unite x $25 per unit) Cost of good available for sale Ending inventory (20,000 $25) Cost of goods sold 2,500,000 2,500,000 500,000 2,000,000...
19 Problem 19-2A Variable costing income statement and conversion to absorption costing income LO P2, P3...
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...
3 Variable ys. Absorption Costing, OU812 Incorporated manufactures one product that is sold for $10 per...
3 Variable ys. Absorption Costing, OU812 Incorporated manufactures one product that is sold for $10 per unit. The following information pertains to the company's first year of operations in which it produced 20,000 units and sold 15,000 units. Variable Costs Per Unit: Manufacturing: Direct Materials Direct Labor Variable Manufacturing Overhead Variable Selling & Administrative Fixed Costs Per Year: Fixed Manufacturing Overhead Fixed Selling & Administrative Expenses SI $0.75 $50,000 $10,000 Cost per Unit. What is the unit product cost under...
Tableau DA 6-3: Mini-Case, Income reporting under absorption costing and variable costing LO P2 Waltman Co....
Tableau DA 6-3: Mini-Case, Income reporting under absorption costing and variable costing LO P2 Waltman Co. just ended its first year of operations. We are hired to help with the company's reporting. The Tableau Dashboard provides data for our analysis. Variable Manufacturing Costs $10 per unit Fixed Manufacturing Overhead $8 per unit $6 per unit ooooo $4 per unit Selling & Administrative Costs Per Year Valable Manufacturing Costs $10 per unit Fixed Manufacturing Overhead $8 per unit $6 per unit...
Exercise 6-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer...
Exercise 6-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 40 per unit Direct labor $ 60 per unit Overhead costs for the year Variable overhead $ 2,100,000 Fixed overhead $ 8,400,000 Selling and administrative costs for the year Variable $ 725,000 Fixed $ 4,250,000 Production and sales for the year...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2,500 350 80 Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 - 3,000 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 60 10 75 37,500...
Problem 19-2A Variable costing income statement and converslon to absorption costing Income LO P2, РЗ Trez...
Problem 19-2A Variable costing income statement and converslon to absorption costing Income LO P2, РЗ 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. $3,680, eee Sales (80,e08 units $45 per unit) Cost of goods sold Beginning inventory Cost of goods manufactured (1e0,eee units $25 per unit) Cost of good available for sale Ending inventory (20,eeex $25) Cost of goods sold...
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...
Required Information Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 (The...
Required Information Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 (The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38.000 units at a price of $140 per unit. $ 60 22 000 Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead...
! 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)...
Problem 19-2A Variable costing income statement and conversion to absorption costing income LO P2, P3 is 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 $45 per unit) Cost of goods sold $3,600,000 Beginning inventory Cost of goods manufactured (100,000 unite x $25 per unit) Cost of good available for sale Ending inventory (20,000 $25) Cost of goods sold 2,500,000 2,500,000 500,000 2,000,000...
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...
3 Variable ys. Absorption Costing, OU812 Incorporated manufactures one product that is sold for $10 per unit. The following information pertains to the company's first year of operations in which it produced 20,000 units and sold 15,000 units. Variable Costs Per Unit: Manufacturing: Direct Materials Direct Labor Variable Manufacturing Overhead Variable Selling & Administrative Fixed Costs Per Year: Fixed Manufacturing Overhead Fixed Selling & Administrative Expenses SI $0.75 $50,000 $10,000 Cost per Unit. What is the unit product cost under...
Tableau DA 6-3: Mini-Case, Income reporting under absorption costing and variable costing LO P2 Waltman Co. just ended its first year of operations. We are hired to help with the company's reporting. The Tableau Dashboard provides data for our analysis. Variable Manufacturing Costs $10 per unit Fixed Manufacturing Overhead $8 per unit $6 per unit ooooo $4 per unit Selling & Administrative Costs Per Year Valable Manufacturing Costs $10 per unit Fixed Manufacturing Overhead $8 per unit $6 per unit...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2,500 350 80 Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 - 3,000 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 60 10 75 37,500...
Problem 19-2A Variable costing income statement and converslon to absorption costing Income LO P2, РЗ 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. $3,680, eee Sales (80,e08 units $45 per unit) Cost of goods sold Beginning inventory Cost of goods manufactured (1e0,eee units $25 per unit) Cost of good available for sale Ending inventory (20,eeex $25) Cost of goods sold...
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...
Required Information Exercise 19-9 Income statement under absorption costing and variable costing LO P1, P2 (The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38.000 units at a price of $140 per unit. $ 60 22 000 Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead...
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