Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales...
Oak Mart, a producer
of solid oak tables, reports the following data from its second
year of business.
| Sales price per unit | $ | 330 | per unit |
| Units produced this year | 115,000 | units | |
| Units sold this year | 119,000 | units | |
| Units in beginning-year inventory | 4,000 | units | |
| Beginning inventory costs | |||
| Variable (4,000 units × $135) | $ | 540,000 | |
| Fixed (4,000 units × $70) | 280,000 | ||
| Total | $ | 820,000 | |
| Manufacturing costs this year | |||
| Direct materials | $ | 42 | per unit |
| Direct labor | $ | 66 | per unit |
| Overhead costs this year | |||
| Variable overhead | $ | 3,200,000 | |
| Fixed overhead | $ | 7,400,000 | |
| Selling and administrative costs this year | |||
| Variable | $ | 1,450,000 | |
| Fixed | 4,200,000 | ||
1. Prepare the current-year income statement for the company using variable costing.
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Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales...
Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 330 per unit Units produced this year 115,000 units Units sold this year 119,000 units Units in beginning-year inventory 4,000 units Beginning inventory costs Variable (4,000 units × $135) $ 540,000 Fixed (4,000 units × $70) 280,000 Total $ 820,000 Manufacturing costs this year Direct materials $ 42 per unit Direct labor $ 66 per unit Overhead...
Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 330 per unit Units produced this year 115,000 units Units sold this year 119,000 units Units in beginning-year inventory 4,000 units Beginning inventory costs Variable (4,000 units × $135) $ 540,000 Fixed (4,000 units × $75) 300,000 Total $ 840,000 Manufacturing costs this year Direct materials $ 48 per unit Direct labor $ 62 per unit Overhead...
Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Oak Mart, a producer of solid oak tables, reports the following
data from its second year of business.
Sales price per
unit
$
320
per unit
Units produced this
year
115,000
units
Units sold this
year
118,000
units
Units in
beginning-year inventory
3,000
units
Beginning inventory
costs
Variable (3,000 units ×
$135)
$
405,000
Fixed (3,000 units ×
$80)
240,000
Total
$
645,000
Manufacturing costs
this year
Direct materials
$
40
per unit
Direct labor
$
62
per unit...
Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. $ 300 per unit 110,000 units 113,500 units 3,500 units $ 455,000 262,500 $ 717,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units X $130) Fixed (3,500 units X $75) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling...
Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 310 per unit Units produced this year 105,000 units Units sold this year 108,250 units Units in beginning-year inventory 3,250 units Beginning inventory costs Variable (3,250 units × $135) $ 438,750 Fixed (3,250 units × $75) 243,750 Total $ 682,500 Manufacturing costs this year Direct materials $ 44 per unit Direct labor $ 70 per unit Overhead...
19.7 Oak Mart, a producer of solid oak tables, reports the following data from its second...
19.7
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. $320 per unit 115,000 units 118,000 units 3,000 units $405,000 240,000 $645,000 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,000 units x $135) Fixed (3,000 units x $80) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling and administrative...
Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 320 per unit Units produced this year 100,000 units Units sold this year 103,500 units Units in beginning-year inventory 3,500 units Beginning inventory costs Variable (3,500 units × $135) $ 472,500 Fixed (3,500 units × $75) 262,500 Total $ 735,000 Manufacturing costs this year Direct materials $ 48 per unit Direct labor $ 62 per unit Overhead...
Oak Mart, a producer of solid oak table reports the following data from its second year...
Oak Mart, a producer of solid oak table reports the following
data from its second year of business.
1. Prepare the current-year income statement for the company
using variable costing.
2. Prepare the current-year income statement for the company
using absorption costing.
3. Explain any difference between two income numbers under the
two costing methods in 1 and 2.
Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs $320 per...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per u...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 320 per unit Units produced this year 115,000 units Units sold this year 118,750 units Units in beginning-year inventory 3,750 units Beginning inventory costs Variable (3,750 units × $135) $ 506,250 Fixed (3,750 units × $75) 281,250 Total $ 787,500 Manufacturing costs this year Direct materials $ 50 per unit Direct labor $ 70 per unit Overhead...
Required information (The following information applies to the questions displayed below.] Oak Mart, a producer of...
Required information (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 $ 438,750 243,750 682,500 $ 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 $135) Fixed (3,250 units X $75) Total Manufacturing costs this year Direct...
Oak Mart, a producer of solid oak tables, reports the following
data from its second year of business.
Sales price per
unit
$
320
per unit
Units produced this
year
115,000
units
Units sold this
year
118,000
units
Units in
beginning-year inventory
3,000
units
Beginning inventory
costs
Variable (3,000 units ×
$135)
$
405,000
Fixed (3,000 units ×
$80)
240,000
Total
$
645,000
Manufacturing costs
this year
Direct materials
$
40
per unit
Direct labor
$
62
per unit...
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. $ 300 per unit 110,000 units 113,500 units 3,500 units $ 455,000 262,500 $ 717,500 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,500 units X $130) Fixed (3,500 units X $75) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling...
19.7
Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. $320 per unit 115,000 units 118,000 units 3,000 units $405,000 240,000 $645,000 Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,000 units x $135) Fixed (3,000 units x $80) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling and administrative...
Oak Mart, a producer of solid oak table reports the following
data from its second year of business.
1. Prepare the current-year income statement for the company
using variable costing.
2. Prepare the current-year income statement for the company
using absorption costing.
3. Explain any difference between two income numbers under the
two costing methods in 1 and 2.
Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs $320 per...
Required information (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 $ 438,750 243,750 682,500 $ 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 $135) Fixed (3,250 units X $75) Total Manufacturing costs this year Direct...
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