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Variable Costing Income Statement for a Service Company East Coast Railroad Company transports commodities among three...
Carlton Company has divided its business into segments bอsed on sales territories East Coast Midland and...
Carlton Company has divided its business into segments bอsed on sales territories East Coast Midland and West Coast Following are financial data for 2018 EEB (Click the icon to view the financial data.) Prepare an income statement tor Cariton Company for 2018 using the contribution margin format assuming total fixed costs for the company were $465,000. Include columns for each business segment and a column for the total company Begin by preparing the contribution margin income statement tor each segment,...
High-Low Method for a Service Company Boston Railroad decided to use the high-low method and operating data from the pa...
High-Low Method for a Service Company Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January 292,000 $620,800 692,200 February 326,000 March 489,200 211,000 316,000 April May 663,600 556,600 713,600...
Variable Costing Income Statement for a Service Company The actual and planned data for Underwater University...
Variable Costing Income Statement for a Service Company The actual and planned data for Underwater University for the Fall term were as follows: Actual Planned Enrollment 4,500 4,125 Tuition per credit hour $120 $135 Credit hours 60,450 43,200 Registration, records, and marketing costs per enrolled student $275 $275 Instructional costs per credit hour $60 Depreciation on classrooms and equipment $825,600 $825,600 Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number...
Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a variable costing income statement for internal...
Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Lawn RX provides a quarterly lawn care service that is sold for $190. The variable and fixed cost data are as follows: $100.00 Direct labor Overhead Variable cost per unit Fixed cost (annual) Marketing, general and administrative Variable cost (per service contract completed) Administrative expenses (fixed- annual cost) $33.00 $100,000 $34.00 $42,000 During 2016,...
3. Variable Costing Income Statement On April 30, the end of the first month of operations,...
3. Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (6,400 units) $198,400 Cost of goods sold: Cost of goods manufactured (7,500 units) $165,000 Inventory, April 30 (1,100 units) (24,200) Total cost of goods sold (140,800) Gross profit $57,600 Selling and administrative expenses (33,520) Operating income $24,080 If...
DeAnne Company produces a single product. The company's variable costing income statement for the month August...
DeAnne Company produces a single product. The company's variable costing income statement for the month August appears below. $745,200 De Anne Company Income Statement For the month ending August 31 Sales ($18 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Fixed manufacturing Fixed selling and administrative Total fixed expenses Net operating income 414,000 82,800 496,800 248.400 143.920 71,960 215,880 $132.520 The company produced 35.980 units in August and the...
Variable Costing Income Statement: Reconciliation
Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the years below:Sales (35,000 units X $25 per unit)................................$875,000Cost of Goods Sold (35,000 units x $16 per unit)................$560,000Gross margin.........................................................$315,000Selling and administrative expenses..............................$280,000Net Operating Income................................................$35,000The company's selling and administrative expenses consist of $210,000 per year in fixed expenses and $2 per unit sold in variable expenses. The $16 per unit productcost given above is computed as follows:Direct Materials......................................................$5Direct Labor...........................................................6Variable manufacturing overhead..................................1Fixed manufacturing overhead ($160,000...
variable-Costing income Statement During the most recent year, Beyta Company had the following data: Units in...
variable-Costing income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced Units sold ($60 per unit) Variable costs per unit: Direct materials 10,000 8,800 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 variable costing. 2. Prepare an income statement using variable costing. Beyta Company Income Statement under Variable Costing For the Most Recent Year...
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...
Variable-Costing Income Statement 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 $9 $6 $4 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $5 $ 138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman Company...
Complete Absorption Costing vs. Variable Costing Income statements for Randeris Company, Year 1 & Year 2....
Complete Absorption Costing vs. Variable Costing Income
statements for Randeris Company, Year 1 & Year 2.
RANDERIS COMPANY - YEAR ONE 30,000 25,000 30 $ $ 10 Number of units produced Number of units sold Unit sales price Variable costs per unit: Direct materials, direct labor variable mfg. overhead Selling & administrative expenses Fixed costs per year: Manufacturing overhead Selling & administrative expenses $ 3 $ 150,000 $100,000 RANDERIS COMPANY - YEAR TWO 20,000 25,000 5,000 30 $ Number of...
Carlton Company has divided its business into segments bอsed on sales territories East Coast Midland and West Coast Following are financial data for 2018 EEB (Click the icon to view the financial data.) Prepare an income statement tor Cariton Company for 2018 using the contribution margin format assuming total fixed costs for the company were $465,000. Include columns for each business segment and a column for the total company Begin by preparing the contribution margin income statement tor each segment,...
High-Low Method for a Service Company Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January 292,000 $620,800 692,200 February 326,000 March 489,200 211,000 316,000 April May 663,600 556,600 713,600...
Variable Costing Income Statement for a Service Company The actual and planned data for Underwater University for the Fall term were as follows: Actual Planned Enrollment 4,500 4,125 Tuition per credit hour $120 $135 Credit hours 60,450 43,200 Registration, records, and marketing costs per enrolled student $275 $275 Instructional costs per credit hour $60 Depreciation on classrooms and equipment $825,600 $825,600 Registration, records, and marketing costs vary by the number of enrolled students, while instructional costs vary by the number...
Variable and Absorption Costing-Service Company Lawn RX, Inc. prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Lawn RX provides a quarterly lawn care service that is sold for $190. The variable and fixed cost data are as follows: $100.00 Direct labor Overhead Variable cost per unit Fixed cost (annual) Marketing, general and administrative Variable cost (per service contract completed) Administrative expenses (fixed- annual cost) $33.00 $100,000 $34.00 $42,000 During 2016,...
DeAnne Company produces a single product. The company's variable costing income statement for the month August appears below. $745,200 De Anne Company Income Statement For the month ending August 31 Sales ($18 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Fixed manufacturing Fixed selling and administrative Total fixed expenses Net operating income 414,000 82,800 496,800 248.400 143.920 71,960 215,880 $132.520 The company produced 35.980 units in August and the...
variable-Costing income Statement During the most recent year, Beyta Company had the following data: Units in beginning inventory Units produced Units sold ($60 per unit) Variable costs per unit: Direct materials 10,000 8,800 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 variable costing. 2. Prepare an income statement using variable costing. Beyta Company Income Statement under Variable Costing For the Most Recent Year...
Variable-Costing Income Statement 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 $9 $6 $4 Direct labor Variable overhead Fixed costs: Fixed overhead per unit produced Fixed selling and administrative $5 $ 138,000 Required: 1. Calculate the cost of goods sold under variable costing. 2. Prepare an income statement using variable costing. Enter amounts as positive numbers. Osterman Company...
Complete Absorption Costing vs. Variable Costing Income
statements for Randeris Company, Year 1 & Year 2.
RANDERIS COMPANY - YEAR ONE 30,000 25,000 30 $ $ 10 Number of units produced Number of units sold Unit sales price Variable costs per unit: Direct materials, direct labor variable mfg. overhead Selling & administrative expenses Fixed costs per year: Manufacturing overhead Selling & administrative expenses $ 3 $ 150,000 $100,000 RANDERIS COMPANY - YEAR TWO 20,000 25,000 5,000 30 $ Number of...
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