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Mike company had the following cost Calculate the unit product cost using variable costing. Round your...
Mark Company had the following costs: (Click on the icon to view the data.) Calculate the...
Mark Company had the following costs: (Click on the icon to view the data.) Calculate the unit product cost using absorption costing. Round your answer to the nearest cent. Select the labels and enter the amounts to compute the unit product cost using absorption costing. Absorption Costing Total unit product cost i Data Table Units produced 360 units Direct materials $ $ 64 per unit Direct labor 36 per unit 18 per unit 9,000 per year Variable manufacturing overhead Fixed...
Pierce Company had the following costs: Calculate the unit product cost using absorption costing and variable...
Pierce Company had the following costs:
Calculate the unit product cost using absorption costing and
variable costing.
Units produced 500 units Manufacturing costs: Direct materials Direct labor 25 per unit 45 per unit 15 per unit 5,000 per year Variable manufacturing overhead Fixed manufacturing overhead Selling and administrative costs: Variable selling and administrative costs 30 per unit 3,200 per year Fixed selling and administrative costs 1. Pierce Company had the following costs: Click on the icon to view the data.)...
Prepare income statement using variable costing Lynch Company manufactures and sells a single product. The following...
Prepare income statement using variable costing
Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative $308,000 $218,000 During the year, the company produced 28,000 units and sold 15,000 units. The selling price of the company's product is $56 per unit. Required: 1....
What is the unit product cost under variable costing? see information below Diego Company manufactures one...
What is the unit product cost under variable costing?
see information below
Diego Company manufactures one product that is sold for $76 per unit in two geographic regions-the East and West regions. The following information pertains to the company's first year of operations in which it produced 58,000 units and sold 54,000 units. Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ Fixed costs per year: Fixed manufacturing overhead $1,160,000 Fixed selling...
1. Assuming the company uses variable costing, calculate Marigold’s manufacturing cost per unit for 2020. (Round...
1. Assuming the company uses variable costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
2. Prepare a variable costing income statement for 2020.
(Enter negative amounts using either a negative sign
preceding the number e.g. -45 or parentheses e.g.
(45).)
3. Assuming the company uses absorption costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
4. Prepare an absorption costing income statement for...
Cool Sky reports the following costing data on its product for its first year of operations....
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit $ 42 Direct labor per unit $ 16 Variable overhead per unit $ 5 Fixed overhead for the year $ 378,000 Selling and administrative costs Variable selling and administrative cost per unit $ 11 Fixed selling and...
Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO7-1, LO7-2] Lynch Company...
Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO7-1, LO7-2] Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 12 Direct labor $ 4 Variable manufacturing overhead $ 2 Variable selling and administrative $ 2 Fixed costs per year: Fixed manufacturing overhead $ 370,000 Fixed selling and administrative $ 200,000 During the year, the company produced 37,000...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2] Lynch Company...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2] Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 14 Direct labor $ 5 Variable manufacturing overhead $ 1 Variable selling and administrative $ 1 Fixed costs per year: Fixed manufacturing overhead $ 264,000 Fixed selling and administrative $ 174,000 During the year, the company produced 33,000...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2] Lynch Company...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2] Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 12 Direct labor $ 3 Variable manufacturing overhead $ 1 Variable selling and administrative $ 1 Fixed costs per year: Fixed manufacturing overhead $ 324,000 Fixed selling and administrative $ 234,000 During the year, the company produced 27,000...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, L06-2] Lynch Company...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, L06-2] Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: A A Variable costs per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative wa A A $ 300,000 $ 190,000 During the year, the company produced 25,000 units and sold...
Mark Company had the following costs: (Click on the icon to view the data.) Calculate the unit product cost using absorption costing. Round your answer to the nearest cent. Select the labels and enter the amounts to compute the unit product cost using absorption costing. Absorption Costing Total unit product cost i Data Table Units produced 360 units Direct materials $ $ 64 per unit Direct labor 36 per unit 18 per unit 9,000 per year Variable manufacturing overhead Fixed...
Pierce Company had the following costs:
Calculate the unit product cost using absorption costing and
variable costing.
Units produced 500 units Manufacturing costs: Direct materials Direct labor 25 per unit 45 per unit 15 per unit 5,000 per year Variable manufacturing overhead Fixed manufacturing overhead Selling and administrative costs: Variable selling and administrative costs 30 per unit 3,200 per year Fixed selling and administrative costs 1. Pierce Company had the following costs: Click on the icon to view the data.)...
Prepare income statement using variable costing
Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative $308,000 $218,000 During the year, the company produced 28,000 units and sold 15,000 units. The selling price of the company's product is $56 per unit. Required: 1....
What is the unit product cost under variable costing?
see information below
Diego Company manufactures one product that is sold for $76 per unit in two geographic regions-the East and West regions. The following information pertains to the company's first year of operations in which it produced 58,000 units and sold 54,000 units. Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ Fixed costs per year: Fixed manufacturing overhead $1,160,000 Fixed selling...
1. Assuming the company uses variable costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
2. Prepare a variable costing income statement for 2020.
(Enter negative amounts using either a negative sign
preceding the number e.g. -45 or parentheses e.g.
(45).)
3. Assuming the company uses absorption costing, calculate
Marigold’s manufacturing cost per unit for 2020. (Round
answer to 2 decimal places, e.g. 10.50.)
4. Prepare an absorption costing income statement for...
Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, L06-2] Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: A A Variable costs per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative wa A A $ 300,000 $ 190,000 During the year, the company produced 25,000 units and sold...
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