Homework Answers
Absorption Costing
| 2018 | 2019 | |
| DM DL,
Variable mfg OH Cost per unit - Variable |
$ 20 | $ 20 |
| Fixed mfg. OH Cost per unit | $ 12 | $ 15 |
| Unit product cost - absorption costing | $ 32 | $ 35 |
| 2018 | 2019 | |
| Sales | $ 22,50,000 | $ 22,50,000 |
| Beginning Inventory | $ - | $ 1,60,000 |
| Plus Cost of Goods Manufactured | $ 16,00,000 | $ 14,00,000 |
| Less Ending Inventory | $ 1,60,000 | $ - |
| Cost of Goods Sold | $ 14,40,000 | $ 15,60,000 |
| Gross Margin | $ 8,10,000 | $ 6,90,000 |
| Variable Selling and administrative | $ 90,000 | $ 90,000 |
| Fixed Selling and administrative | $ 4,00,000 | $ 4,00,000 |
| Operating Income | $ 3,20,000 | $ 2,00,000 |
Variable Costing
| 2018 | 2019 | |
| DM DL,
Variable mfg OH Cost per unit - Variable |
$ 20 | $ 20 |
| Unit product cost - absorption costing | $ 20 | $ 20 |
| 2018 | 2019 | |
| Sales | $ 22,50,000 | $ 22,50,000 |
| Beginning Inventory | $ - | $ 1,00,000 |
| Plus Cost of Goods Manufactured | $ 10,00,000 | $ 8,00,000 |
| Less Ending Inventory | $ 1,00,000 | $ - |
| Cost of Goods Sold | $ 9,00,000 | $ 9,00,000 |
| Variable Selling and administrative | $ 90,000 | $ 90,000 |
| Contribution Margin | $ 12,60,000 | $ 12,60,000 |
| Fixed Manufacturing OH | $ 6,00,000 | $ 6,00,000 |
| Fixed Selling and administrative | $ 4,00,000 | $ 4,00,000 |
| Operating Income | $ 2,60,000 | $ 2,60,000 |
In 2018, 50000 units produced, 45000 units sold
Variable Costing NOI : $260000
Plus : Fixed OH deferred in ending inventory 5000 units x $12 per
unit
= Absorption Costing NOI : $320000
In 2019, 40000 units produced, 45000 units sold
Variable Costing NOI : $260000
Minus : Fixed OH released in beginning inventory 5000 units x $12
per unit
= Absorption Costing NOI : $200000
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le-class scrise Ch 1 Grell Seat Martin Manufacturing hos the following co r e for the...
A manufacturing company that produces a single product has provided the following data concerning its most...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead Variable selling and admin $8 $5 Fixed costs: Fixed mfg overhead $92,000 Fixed selling and admin $40,000 What is the absorption costing unit product cost for the month? $115 per unit...
A manufacturing company that produces a single product has provided the following data concerning its most...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead Variable selling and admin $5 Fixed costs: Fixed mfg overhead $92,000 Fixed selling and admin $40,000 Assume that the sales price per unit is $180. Would absorption costing net income be...
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.
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Variable vs. Absorption Costing $ 50.00 No Video for this worksheet Selling price per unit Manufacturing...
Variable vs. Absorption Costing $ 50.00 No Video for this worksheet Selling price per unit Manufacturing costs Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year $ 11.00 REQUIRED: Calculate the unit cost and prepare a traditional 6.00 $ 3.00 120,000 Selling and administrative expenses Variable per unit sold Fixed per year $ 4.00 70,000 Year 1 Units in beginning inventory Units produced during the year Units sold during the year Units in...
Variable and Absorption Costing Chandler Company sells its product for $100 per unit. Variable manufacturing costs...
Variable and Absorption Costing Chandler Company sells its product for $100 per unit. Variable manufacturing costs per unit are $40, and fixed manufacturing costs at the normal operating level of 10,000 units are $240,000. Variable selling expenses are $16 per unit sold. Fixed administrative expenses total $104,000. Chandler had no beginning inventory in 2019. During 2019, the company produced 10,000 units and sold 8,000. Would net income for Chandler Company in 2019 be higher if calculated using variable costing or...
A manufacturing company that produces a single product has provided the following data concerning its most...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead Variable selling and admin $8 $5 Fixed costs: Fixed mfg overhead Fixed selling and admin $92,000 $40,000 What is the total period cost for the month under absorption costing? $40,000 $60,000...
Please Help Enter numbers in blue cells 2 Enter formulas in the yellow cells 3. Enter...
Please Help
Enter numbers in blue cells 2 Enter formulas in the yellow cells 3. Enter your narrative analysis in the green cells Kitty Hawk manufactures and distributes high end drones. The following costs are available for the year end. The company had no beginning inventory. Last year they produced 1,800 units and but only sold 1,600 units. The unit selling price was $4,300 and expenses were: 1,800 Variable Cost per Unit Direct Materials Direct Labor Variable Mfg Over Head...
Variable vs. Absorption Costing Selling price per unit 50.00 No Video for this worksheet $ Mandturing...
Variable vs. Absorption Costing Selling price per unit 50.00 No Video for this worksheet $ Mandturing cost Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year 11.00 6.00 REQUIRED: Calculate the unit cost and prepare a traditional Income statements using absorption costing. Calculate the unit cost and prepare a variable costing Income statement. Check your work using the values on the check figure tab. $ 120,000 Selling and administrative expenses Variable per unit...
Variable and Absorption Costing Chandler Company sells its product for $104 per unit. Variable manufacturing costs...
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A manufacturing company that produces a single product has provided the following data concerning its most...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead $8 Variable selling and admin $5 Fixed costs: Fixed mfg overhead $92,000 Fixed selling and admin $40,000 What is the variable costing unit product cost for the month? $97 per unit...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead Variable selling and admin $8 $5 Fixed costs: Fixed mfg overhead $92,000 Fixed selling and admin $40,000 What is the absorption costing unit product cost for the month? $115 per unit...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead Variable selling and admin $5 Fixed costs: Fixed mfg overhead $92,000 Fixed selling and admin $40,000 Assume that the sales price per unit is $180. Would absorption costing net income be...
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...
Variable vs. Absorption Costing $ 50.00 No Video for this worksheet Selling price per unit Manufacturing costs Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year $ 11.00 REQUIRED: Calculate the unit cost and prepare a traditional 6.00 $ 3.00 120,000 Selling and administrative expenses Variable per unit sold Fixed per year $ 4.00 70,000 Year 1 Units in beginning inventory Units produced during the year Units sold during the year Units in...
Variable and Absorption Costing Chandler Company sells its product for $100 per unit. Variable manufacturing costs per unit are $40, and fixed manufacturing costs at the normal operating level of 10,000 units are $240,000. Variable selling expenses are $16 per unit sold. Fixed administrative expenses total $104,000. Chandler had no beginning inventory in 2019. During 2019, the company produced 10,000 units and sold 8,000. Would net income for Chandler Company in 2019 be higher if calculated using variable costing or...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead Variable selling and admin $8 $5 Fixed costs: Fixed mfg overhead Fixed selling and admin $92,000 $40,000 What is the total period cost for the month under absorption costing? $40,000 $60,000...
Please Help
Enter numbers in blue cells 2 Enter formulas in the yellow cells 3. Enter your narrative analysis in the green cells Kitty Hawk manufactures and distributes high end drones. The following costs are available for the year end. The company had no beginning inventory. Last year they produced 1,800 units and but only sold 1,600 units. The unit selling price was $4,300 and expenses were: 1,800 Variable Cost per Unit Direct Materials Direct Labor Variable Mfg Over Head...
Variable vs. Absorption Costing Selling price per unit 50.00 No Video for this worksheet $ Mandturing cost Variable per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year 11.00 6.00 REQUIRED: Calculate the unit cost and prepare a traditional Income statements using absorption costing. Calculate the unit cost and prepare a variable costing Income statement. Check your work using the values on the check figure tab. $ 120,000 Selling and administrative expenses Variable per unit...
Variable and Absorption Costing Chandler Company sells its product for $104 per unit. Variable manufacturing costs per unit are 545, and fixed manufacturing costs at the normal operating level of 12,000 units are $240,000. Variable selling expenses are $15 per unit sold. Fixed administrative expenses total $104,000. Chandler had no beginning inventory in 2016. During 2016, the company produced 12,000 units and sold 9,000. Would net income for Chandler Company in 2016 be higher if calculated using variable costing or...
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory 0 Units produced 4,000 Units sold 3,500 Units in ending inventory 500 Variable cost per unit: Direct materials $41 Direct labor $43 Variable mfg overhead $8 Variable selling and admin $5 Fixed costs: Fixed mfg overhead $92,000 Fixed selling and admin $40,000 What is the variable costing unit product cost for the month? $97 per unit...
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