Obama Company sells its product for $30 per unit. During 2020, it produced 25500 units and sold 13000 units (there was no beginning inventory).
Obama Company sells its product for $30 per unit. During 2020, it produced 25500 units and sold 13000 units (there was no beginning inventory). Costs per unit are: direct materials $8, direct labour $7, and variable overhead $6. Fixed costs are: $331500 manufacturing overhead, and $51000selling and administrative expenses. The per-unit manufacturing cost under variable costing is
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Obama Company sells its product for $30 per unit. During 2020, it produced 25500 units and sold 13000 units (there was no beginning inventory).
Obama Company sells its product for $30 per unit. During 2020, it produced 25500 units and sold 13000 units (there was no beginning inventory). Costs per unit are: direct materials $8, direct labour $7, and variable overhead $6. Fixed costs are: $331500 m
Obama Company sells its product for $30 per unit. During 2020, it produced 25500 units and sold 13000 units (there was no beginning inventory). Costs per unit are: direct materials $8, direct labour $7, and variable overhead $6. Fixed costs are: $331500 manufacturing overhead, and $51000selling and administrative expenses. The per-unit manufacturing cost under variable costing isa. $21.00.b. $34.00.c. $36.00.d. $46.50.
The following data relates to Alpha Company. Units in beginning inventory — Units produced 26,000 Units...
The following data relates to Alpha Company. Units in beginning inventory — Units produced 26,000 Units sold ($300 per unit) 21,000 Variable costs per unit: Direct materials $35 Direct labor 70 Variable overhead 30 Fixed costs: Fixed overhead per unit produced $45 Fixed selling and administrative expenses 160,000 Determine the value of ending inventory under variable costing. a.$550,000 b.$900,000 c.$675,000 d.$525,000
Selling price $117 Units in beginning inventory 750 Units produced 8,650 Units sold 8,750 Units in...
Selling price $117 Units in beginning inventory 750 Units produced 8,650 Units sold 8,750 Units in ending inventory 650 Variable costs per unit: Direct materials $ 25 Direct labor $ 42 Variable manufacturing overhead Variable selling and administrative expense $ 16 Fixed costs: Fixed manufacturing overhead $ 69,200 Fixed selling and administrative expense $ 163,000 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per...
The Colin Division of Mochrie Company sells its product for $37 per unit. Variable costs per unit are...
The Colin Division of Mochrie Company sells its product for $37 per unit. Variable costs per unit are: manufacturing, $14; and selling and administrative, $4. Fixed costs are: $420000 manufacturing overhead, and $57000 selling and administrative. There was no beginning inventory. Expected sales for next year are 60000 units. Ryan Stiles, the manager of the Colin Division, is under pressure to improve the performance of the Division. As he plans for next year, he has to decide whether to produce 60000 units or 70000 units. What would the manufacturing...
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...
A Company manufactures one product that is sold for $79 per unit. The following information pertains to the company...
A Company manufactures one product that is sold for $79 per unit. The following information pertains to the company's first year of operations in which I produced 50,000 units and sold 45,000 units. Variable costs per unit: Manufacturing Direct materials $ 29 Direct labour 16 Variable manufacturing overhead 2 Variable selling and administrative 4 Fixed costs per year: Fixed manufacturing overhead 800,000 Fixed selling and administrative expenses $ 516,000 1. What is the company's total contribution margin under variable costing?...
Hixson Company manufactures and sells one product for $34 per unit. The company maintains no beginning...
Hixson Company manufactures and sells one product for $34 per unit. The company maintains no beginning or ending inventories and its relevant range of production is 20,000 units to 30,000 units. When Hixson produces and sells 25,000 units, its unit costs are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Amount Per Unit $8.00 $5.00 $1.00 $6.00 $3.50 $2.50 $4.00 $1.00 Required: 1. For financial...
Question 35 During 2020, Rafael Corp. produced 43,120 units and sold 43,120 for $14 per unit....
Question 35 During 2020, Rafael Corp. produced 43,120 units and sold 43,120 for $14 per unit. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 53,900 units. Variable manufacturing costs were $5 per unit. Annual fixed manufacturing overhead was $86,240 ($3 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $21,560. The company expenses production volume variance to cost of goods sold in the...
50,000 45,000 $76 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative...
50,000 45,000 $76 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (total) Manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (total) $3 $ 567,000 $15 $7 $3 $ 900,000 Because the new antenna is unique in design, management is anxious to see how profitable it will be and has asked that an income statement be prepared...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using variable costing.
Selling price $117 Units in beginning inventory 750 Units produced 8,650 Units sold 8,750 Units in ending inventory 650 Variable costs per unit: Direct materials $ 25 Direct labor $ 42 Variable manufacturing overhead Variable selling and administrative expense $ 16 Fixed costs: Fixed manufacturing overhead $ 69,200 Fixed selling and administrative expense $ 163,000 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per...
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...
A Company manufactures one product that is sold for $79 per unit. The following information pertains to the company's first year of operations in which I produced 50,000 units and sold 45,000 units. Variable costs per unit: Manufacturing Direct materials $ 29 Direct labour 16 Variable manufacturing overhead 2 Variable selling and administrative 4 Fixed costs per year: Fixed manufacturing overhead 800,000 Fixed selling and administrative expenses $ 516,000 1. What is the company's total contribution margin under variable costing?...
Hixson Company manufactures and sells one product for $34 per unit. The company maintains no beginning or ending inventories and its relevant range of production is 20,000 units to 30,000 units. When Hixson produces and sells 25,000 units, its unit costs are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Amount Per Unit $8.00 $5.00 $1.00 $6.00 $3.50 $2.50 $4.00 $1.00 Required: 1. For financial...
Question 35 During 2020, Rafael Corp. produced 43,120 units and sold 43,120 for $14 per unit. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 53,900 units. Variable manufacturing costs were $5 per unit. Annual fixed manufacturing overhead was $86,240 ($3 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $21,560. The company expenses production volume variance to cost of goods sold in the...
50,000 45,000 $76 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (total) Manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (total) $3 $ 567,000 $15 $7 $3 $ 900,000 Because the new antenna is unique in design, management is anxious to see how profitable it will be and has asked that an income statement be prepared...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using variable costing.
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