Homework Answers
Absorption Costing
| Sales | 858000 |
| Cost of goods sold (514800+105870/35290*42900) | 643500 |
| Gross profit | 214500 |
| Selling and administrative expense ( | 199280 |
| Operating income | 15220 |
So answer is b) $15220 Profit
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Multiple Choice $15,220 loss $15,220 profit $38,050 profit $70,580 profit Columbia Corporation produces a single produc...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below:...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($20 per unit) $858,000 Variable expenses: Variable cost of goods sold 514,800 Variable selling expense 128,700 Total variable expenses 643,500 Contribution margin 214,500 Fixed expenses: Manufacturing 105,870 Selling and administrative 70,580 Total fixed expenses 176,450 Net operating income $ 38,050 During November, 35,290 units were manufactured and 8,290 units were in beginning inventory....
Columbia Corporation produces a single product. The company's variable costing income statement for November appen below...
Columbia Corporation produces a single product. The company's variable costing income statement for November appen below $815, 1ee Columbia Corporation Theron Statement For the Menth ended November 30 Sales ($19 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative Total fixed expenses Net operating income 429,609 128,700 557,700 257,400 140,920 70, 460 211,380 $ 46,00 De During November 35 230 units were manufactured and 8.210 units...
Columbia Corporation produces a single product. The company's variable costing Income statement for November appears below:...
Columbia Corporation produces a single product. The company's variable costing Income statement for November appears below: $905, 100 Columbia Corporation Income Statement For the Month ended November 30 Sales ($21 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative Total fixed expenses Net operating income 560,300 129,300 689,600 215,500 141,640 35,410 177,050 $ 38,450 During November, 35,410 units were manufactured and 8,520 units were in beginning...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below:...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($17 per unit) $ 690,200 Variable expenses: Variable cost of goods sold 406,000 Variable selling expense 121,800 Total variable expenses 527,800 Contribution margin 162,400 Fixed expenses: Manufacturing 107,250 Selling and administrative 35,750 Total fixed expenses 143,000 Net operating income $ 19,400 During November, 35,750 units were manufactured and 8,340 units were in beginning...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below:...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($22 per unit) $ 952,600 Variable expenses: Variable cost of goods sold 606, 200 Variable selling expense 129,900 Total variable expenses 736,100 Contribution margin 216,500 Fixed expenses: Manufacturing 107,130 Selling and administrative 35, 710 Total fixed expenses 142,840 Net operating income $ 73,660 During November, 35,710 units were manufactured and 8,490 units were...
On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 6,000 units...
On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 6,000 units and sold 5,200 units. The following income statement was prepared, based on the variable costing concept: Frankenreiter Inc. Variable Costing Income Statement For the Year Ended December 31, 20Y1 Sales $2,028,000 Variable cost of goods sold: Variable cost of goods manufactured $1,122,000 EInventory, December 31 (149,600) Total variable cost of goods sold 972,400 Manufacturing margin $1,055,600 Total variable selling and administrative expenses 244,400 Contribution...
Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford...
Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (3,900 units) $78,000 Cost of goods sold: Cost of goods manufactured (4,600 units) $64,400 Inventory, November 30 (600 units) (8,400) Total cost of goods sold 56,000 Gross profit $22,000 Selling and administrative expenses 12,370 Income from operations $9,630 Assume...
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 34,100 28,100 452 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $ 23 $393,400 $ 208 $ 58 $ 38 $716,100 Assume that direct labor is...
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 32,700 27,100 459 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses : Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 20 $ 406,500 $ 298 $ 52 30 $425, 100 Assume that direct labor is...
The Dorset Corporation produces and sells a single product. The following data refer to the year...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory 0 Units produced 28,800 Units sold 25,100 Selling price per unit $ 410 Selling and administrative expenses: Variable per unit $ 20 Fixed per year $ 527,100 Manufacturing costs: Direct materials cost per unit $ 241 Direct labor cost per unit $ 56 Variable manufacturing overhead cost per unit $ 34 Fixed manufacturing overhead per year $ 604,800 Assume that...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($20 per unit) $858,000 Variable expenses: Variable cost of goods sold 514,800 Variable selling expense 128,700 Total variable expenses 643,500 Contribution margin 214,500 Fixed expenses: Manufacturing 105,870 Selling and administrative 70,580 Total fixed expenses 176,450 Net operating income $ 38,050 During November, 35,290 units were manufactured and 8,290 units were in beginning inventory....
Columbia Corporation produces a single product. The company's variable costing income statement for November appen below $815, 1ee Columbia Corporation Theron Statement For the Menth ended November 30 Sales ($19 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative Total fixed expenses Net operating income 429,609 128,700 557,700 257,400 140,920 70, 460 211,380 $ 46,00 De During November 35 230 units were manufactured and 8.210 units...
Columbia Corporation produces a single product. The company's variable costing Income statement for November appears below: $905, 100 Columbia Corporation Income Statement For the Month ended November 30 Sales ($21 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative Total fixed expenses Net operating income 560,300 129,300 689,600 215,500 141,640 35,410 177,050 $ 38,450 During November, 35,410 units were manufactured and 8,520 units were in beginning...
Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($22 per unit) $ 952,600 Variable expenses: Variable cost of goods sold 606, 200 Variable selling expense 129,900 Total variable expenses 736,100 Contribution margin 216,500 Fixed expenses: Manufacturing 107,130 Selling and administrative 35, 710 Total fixed expenses 142,840 Net operating income $ 73,660 During November, 35,710 units were manufactured and 8,490 units were...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 34,100 28,100 452 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $ 23 $393,400 $ 208 $ 58 $ 38 $716,100 Assume that direct labor is...
The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 32,700 27,100 459 Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses : Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 20 $ 406,500 $ 298 $ 52 30 $425, 100 Assume that direct labor is...
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