Homework Answers
The only difference between variable costing and absorption costing income statement is that fixed manufacturing overheads are absorbed into products under absorption costing while it is charged as a period cost under variable costing
Difference = Difference between units produced and sold Units*Fixed manufacturing overhead cost per unit
= (123250-120,000)*80
= $260,000
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pter 19 Homework Saved Sales price per unit $ 300 per Units produced this year unit...
Saved The following information applies to the questions displayed below) Oak Mart, a producer of solid...
Saved 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 Sales price per unit $ 300 per Units produced this year 1 unit Units sold this year 120,000 units Units in beginning-year inventory 123,250 units Beginning inventory costs 3,250 units Variable (3,250 units * $135) $ 438,750 Fixed (3,250 units * $80) 260,000 Total $ 698,750 Manufacturing costs this year Direct materials...
CWUIR G 2. Prepare the current year income statement for the company using absorption costing. Part...
CWUIR G 2. Prepare the current year income statement for the company using absorption costing. Part 2 of 3 OAK MART COMPANY Absorption Costing Income Statement 10 points Beginning inventory Manufacturing costs this year eBook Hint Print References Next > ldprer 19 Homework Required information 2 of 3 took Net income (loss) lint ences Fixed costs added to(subtracted from) inventory el 19 Homework a Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using variable costing.
! Required information Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 The...
! Required information Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 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 $ 422,500 260,000 $ 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 $130)...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using absorntion costing
[The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak...
[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. Sales price per unit $ 310 per unit Units produced this year 120,000 units Units sold this year 123,250 units Units in beginning-year inventory 3,250 units Beginning inventory costs Variable (3,250 units × $140) $ 455,000 Fixed (3,250 units × $75) 243,750 Total $ 698,750 Manufacturing costs this year Direct materials $ 42...
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. Sales price per unit $ 310 per unit Units produced this year 120,000 units Units sold this year 123,250 units Units in beginning-year inventory 3,250 units Beginning inventory costs Variable (3,250 units × $140) $ 455,000 Fixed (3,250 units × $75) 243,750 Total $ 698,750 Manufacturing costs this year Direct materials...
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...
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...
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...
Saved 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 Sales price per unit $ 300 per Units produced this year 1 unit Units sold this year 120,000 units Units in beginning-year inventory 123,250 units Beginning inventory costs 3,250 units Variable (3,250 units * $135) $ 438,750 Fixed (3,250 units * $80) 260,000 Total $ 698,750 Manufacturing costs this year Direct materials...
CWUIR G 2. Prepare the current year income statement for the company using absorption costing. Part 2 of 3 OAK MART COMPANY Absorption Costing Income Statement 10 points Beginning inventory Manufacturing costs this year eBook Hint Print References Next > ldprer 19 Homework Required information 2 of 3 took Net income (loss) lint ences Fixed costs added to(subtracted from) inventory el 19 Homework a Oak Mart, a producer of solid oak tables, reports the following data from its second year...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using variable costing.
! Required information Exercise 19-7 Income reporting under absorption costing and variable costing LO P2 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 $ 422,500 260,000 $ 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 $130)...
Units produced 2,500 units Sale price $100 per unit Direct materials $30 per unit Direct labor $15 per unit Variable manufacturing overhead $10 per unit Fixed manufacturing overhead $150,000 per year Variable selling and administrative costs $30 per unit Fixed selling and administrative costs $75,000 per year Calculate the unit product cost using absorntion costing
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. $ 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...
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