Exam 12 (Chs 5.67) 150 pts Due: May 19 Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2] ynch Compeny manufectures and sets a single produc...
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 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, 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 $ 10 Direct labor $ 5 Variable manufacturing overhead $ 1 Variable selling and administrative $ 1 Fixed costs per year: Fixed manufacturing overhead $ 385,000 Fixed selling and administrative $ 295,000 During the year, the company produced 35,000...
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: $ 13 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 1 $ 288,000 $198,000 During the year, the company produced 24,000 units and sold 20,000 units. The...
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...
Exercise 6-6 Varieble and Absorption Costing Unit Product Costs and Income Statements (LO6-1, LO6-21 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: Manufagturing: Direft materials Difect labor yariable sanufacturing overhead Variable selling and administrative ixed costs per year: Fixed manufacturing overhead Fixed selling and adeinistrative 15 $ 1 $286,000 $196,eee During the year, the company produced 26,000 units and sold 22,000 units. The selling...
6-18 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, Lo6- 2) factures and sells one product. The following information pertains to each of the company's fist hree years of operations Manufacturing: Direct materials Direct labor Variable manufacturing overhead 21 Variable selling and administrative Fixed costs per yeari s 330,000 s 150,000 Fixed manufacturing overhead Pixed selling and administrative expenses During its first year of operations, Haas produced 40,000 units and sold 40,000 units. During its second year...
Problem 6-18 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2] Haas Company manufactures and sells one product. The following information pertains to each of the company’s first three years of operations: Variable costs per unit: Manufacturing: Direct materials $ 20 Direct labor $ 12 Variable manufacturing overhead $ 4 Variable selling and administrative $ 2 Fixed costs per year: Fixed manufacturing overhead $ 960,000 Fixed selling and administrative expenses $ 240,000 During its first year of...
Exercise 6-9 (Static) Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, LO6-2, LO6-3]Walsh Company manufactures and sells one product. The following information pertains to each of the company’s first two years of operations: Variable costs per unit:Manufacturing:Direct materials$25Direct labor$15Variable manufacturing overhead$5Variable selling and administrative$2Fixed costs per year:Fixed manufacturing overhead$250,000Fixed selling and administrative expenses$80,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold...
Exercise 6-15 Absorption Costing Unit Product Cost and Income Statement [LO6-1, LO6-2] Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $210. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 20,000 Units sold 19,000 Units in ending inventory 1,000 Variable costs per unit: Direct materials $ 50 Direct labor 80 Variable manufacturing overhead 20 Variable selling and administrative 10 Total variable cost per unit $ 160 Fixed costs:...