Homework Answers
| Absorption Costing | |||
| Sales Revenue | $ 55,90,000 | ||
| Less : Cost of Goods Sold | |||
| Variable Manufacturing Costs | $ 40,00,000 | =200000*20 | |
| Fixed Manufacturing Costs | $ 8,00,000 | ||
| Cost of Goods Manufactured | $ 48,00,000 | ||
| Less : Ending Inventory | $ 16,80,000 | =4800000/200000*70000 | |
| Cost of Goods Sold | $ 31,20,000 | ||
| Gross Profit | $ 24,70,000 | ||
| Less Operating expenses | |||
| Variable | $ 15,60,000 | ||
| Fixed | $ 3,50,000 | ||
| Total Operating expenses | $ 19,10,000 | ||
| Operating Income | $ 5,60,000 |
Answer is a. $560000
| Variable Costing | |||
| Sales Revenue | $ 55,90,000 | ||
| Less : Variable Cost of Goods Sold | $ 26,00,000 | =130000*20 | |
| Gross Contribution Margin | $ 29,90,000 | ||
| Less : Variable Operating Expenses | $ 15,60,000 | =130000*12 | |
| Net Contribution Margin | $ 14,30,000 | ||
| Less Fixed expenses | |||
| Fixed Manufacturing Costs | $ 8,00,000 | ||
| Fixed Operating Expenses | $ 3,50,000 | ||
| Total Operating expenses | $ 11,50,000 | ||
| Operating Income | $ 2,80,000 | ||
Answer is c. $280000
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Atlanta, Inc. planned and actually manufactured 200.000 units of its single product in 2017, its first year of operatio...
Denver, Inc, planned and actually manufactured 220,000 units of its single product in 2017 its first...
Denver, Inc, planned and actually manufactured 220,000
units of its single product in 2017 its first year of operation.
Variable manufacturing cost was $20 per unit produced. Variable
operating (nonmanufacturing) cost was $11 per unit sold. Planned
and actual fixed manufacturing costs were $440,000. Planned and
actual fixed operating (nonmanufacturing) costs totaled $380,000.
Denver sold 110,000 units of product at $39 per unit.
Begin by selecting the labels used in the absorption
costing calculation of operating income and enter the...
Osawa, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first...
Osawa, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $17 per unit produced. Variable operating (nonmanufacturing) cost was Sa per unit sold. Planned actual fixed manufacturing costs were 5570,000. Planned and actual fixed operating inonmanufacturing) costs totaled $400,000. Osawa sold 120,000 units of product at $43 per unit. Read the requirements. Requirement 2. Osawa's 2017 operating Income using variable costing is (a) $1,760,000, (b) $1,400.000, (c)...
Boston, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first...
Boston, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $20 per unit produced. Variable operating (nonmanufacturing) cost was $9 per unit sold. Planned and actual fixed manufacturing costs were $950,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $360,000. Boston sold 130,000 units of product at $40 per unit. 1. Boston's 2017 operating income using absorption costing is (a) $420,000, (b) $120,000. (C) $480,000, (d) S780,000,...
Please help me!Thank you! Seattle, Inc., planned and actually manufactured 240.000 units of its single product...
Please
help me!Thank you!
Seattle, Inc., planned and actually manufactured 240.000 units of its single product in 2017, its first year of operation Variable manufacturing cost was $21 per unit produced. Variable operating (nonmanufacturing) cost was $8 per unit sold. Planned and actual foxed manufacturing costs were $720,000. Planned and actual fixed operating (nonmanufacturing costs totaled $390,000. Seattle sold 160,000 units of product at $42 per unit Read the requirements! Review Only Click the icon to see the worked Solution....
please help me figure out where i went wrong when solving this problem Atlanta, Inc., planned and actually manufacture...
please help me figure out where i went wrong when solving this
problem
Atlanta, Inc., planned and actually manufactured 260,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $24 per unit produced. Variable operating (nonmanufacturing) cost was $11 per unit sold. Planned and actual fixed manufacturing costs were $780,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $390,000. Atlanta sold 120,000 units of product at $46 per unit. Read the requirements. Requirement...
1. Alvin Inc. planned and actually manufactured 200,000 units of its single product in 2019, its...
1. Alvin Inc. planned and actually manufactured 200,000 units of its single product in 2019, its first year of operations. Variable manufacturing costs were $30 per unit of product produced. Planned and actual fixed manufacturing costs were $600,000, and fixed marketing and administrative costs totaled $400,000 in 2019. Alvin sold 120,000 units of product in 2019 at a selling price of $40 per unit. What is Alvin's 2019 operating income using variable costing? What is Alvin's 2019 operating income using...
Pandora Pillow Company's planned production for the year just ended was 22,300 units. This production level...
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Easton Pump Company's planned production for the year just ended was 19,000 units. This production level...
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BIG Company began operations on January 1, 2017. The company sells a single product for $12...
BIG Company began operations on January 1, 2017. The company sells a single product for $12 per unit. During 2017, 50,000 units were produced and 40.000 units were sold. During 2018, 50,000 units were produced and 52,000 units were sold. Costs for 2017 and 2018 were as follows: Direct materials $3.00 per unit Direct labor $2.00 per unit Variable manufacturing overhead $1.50 per unit Variable selling and admin expense $1.00 per unit Fixed manufacturing overhead per year $90,000 Fixed selling...
Dowell Company produces a single product. Its income statements under absorption costing for its first two...
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Denver, Inc, planned and actually manufactured 220,000
units of its single product in 2017 its first year of operation.
Variable manufacturing cost was $20 per unit produced. Variable
operating (nonmanufacturing) cost was $11 per unit sold. Planned
and actual fixed manufacturing costs were $440,000. Planned and
actual fixed operating (nonmanufacturing) costs totaled $380,000.
Denver sold 110,000 units of product at $39 per unit.
Begin by selecting the labels used in the absorption
costing calculation of operating income and enter the...
Osawa, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $17 per unit produced. Variable operating (nonmanufacturing) cost was Sa per unit sold. Planned actual fixed manufacturing costs were 5570,000. Planned and actual fixed operating inonmanufacturing) costs totaled $400,000. Osawa sold 120,000 units of product at $43 per unit. Read the requirements. Requirement 2. Osawa's 2017 operating Income using variable costing is (a) $1,760,000, (b) $1,400.000, (c)...
Boston, Inc., planned and actually manufactured 190,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $20 per unit produced. Variable operating (nonmanufacturing) cost was $9 per unit sold. Planned and actual fixed manufacturing costs were $950,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $360,000. Boston sold 130,000 units of product at $40 per unit. 1. Boston's 2017 operating income using absorption costing is (a) $420,000, (b) $120,000. (C) $480,000, (d) S780,000,...
Please
help me!Thank you!
Seattle, Inc., planned and actually manufactured 240.000 units of its single product in 2017, its first year of operation Variable manufacturing cost was $21 per unit produced. Variable operating (nonmanufacturing) cost was $8 per unit sold. Planned and actual foxed manufacturing costs were $720,000. Planned and actual fixed operating (nonmanufacturing costs totaled $390,000. Seattle sold 160,000 units of product at $42 per unit Read the requirements! Review Only Click the icon to see the worked Solution....
please help me figure out where i went wrong when solving this
problem
Atlanta, Inc., planned and actually manufactured 260,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $24 per unit produced. Variable operating (nonmanufacturing) cost was $11 per unit sold. Planned and actual fixed manufacturing costs were $780,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $390,000. Atlanta sold 120,000 units of product at $46 per unit. Read the requirements. Requirement...
Pandora Pillow Company's planned production for the year just ended was 22,300 units. This production level was achieved, but only 19,500 units were sold. Other data follow: Direct material used Direct labor incurred Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses Finished-goods inventory, January 1 $660,080 356,800 472,760 205,160 394, 710 125,995 None The cost per unit remained the same in the current year as in the previous year. There were no...
Easton Pump Company's planned production for the year just ended was 19,000 units. This production level was achieved, and 21,800 units were sold. Other data follow: Direct material used Direct labor incurred Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses Finished-goods inventory, January 1 $573,800 296,400 408,500 193,800 351,500 114,950 3,700 units The cost per unit remained the same in the current year as in the previous year. There were no work-in-process...
BIG Company began operations on January 1, 2017. The company sells a single product for $12 per unit. During 2017, 50,000 units were produced and 40.000 units were sold. During 2018, 50,000 units were produced and 52,000 units were sold. Costs for 2017 and 2018 were as follows: Direct materials $3.00 per unit Direct labor $2.00 per unit Variable manufacturing overhead $1.50 per unit Variable selling and admin expense $1.00 per unit Fixed manufacturing overhead per year $90,000 Fixed selling...
Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow. Sales ($48 per unit) Cost of goods sold ($33 per unit) Gross margin Selling and administrative expenses Net income 2016 2017 $1,104,000 $2,064,000 759,000 1,419,000 345,000 645,000 286,000 326,000 $ 59,000 $ 319,000 Additional Information a. Sales and production data for these first two years follow. Units produced Units sold 2016 33,000 23,000 2017 33,000 43,000 b. Variable cost per...
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