2 Q1A manufacturing company that produces a single product has provided the following data concerning its most recent mo...
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2 Q1 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 | 4,900 |
Units sold | 4,800 |
Units in ending inventory | 100 |
Variable costs per unit:
Direct materials | $ | 59 |
Direct labor | $ | 61 |
Variable manufacturing overhead | $ | 24 |
Variable selling and administrative | $ | 22 |
Fixed costs:
Fixed manufacturing overhead | $ | 102,900 |
Fixed selling and administrative | $ | 48,000 |
What is the variable costing unit product cost for the month?
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2 Q2
Bartelt Inc., which produces a single product, has provided the following data for its most recent month of operations: |
Number of units produced | 4,600 |
Variable costs per unit: | |
Direct materials | $91 |
Direct labor | $85 |
Variable manufacturing overhead | $7 |
Variable selling and administrative expense | $10 |
Fixed costs: | |
Fixed manufacturing overhead | $161,000 |
Fixed selling and administrative expense | $326,600 |
There were no beginning or ending inventories. The absorption costing unit product cost was: |
$176 per unit
$218 per unit
$183 per unit
$299 per unit
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2 Q3
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: |
Selling price | $165 |
Units in beginning inventory | 0 |
Units produced | 12,700 |
Units sold | 12,000 |
Units in ending inventory | 700 |
Variable costs per unit: | |
Direct materials | $53 |
Direct labor | $48 |
Variable manufacturing overhead | $6 |
Variable selling and administrative | $4 |
Fixed costs: | |
Fixed manufacturing overhead | $406,400 |
Fixed selling and administrative | $216,000 |
What is the total period cost for the month under variable costing? |
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2 Q9
Crystal Corporation produces a single product. The company's variable costing income statement for the month of May appears below: |
Crystal Corporation Income Statement For the month ending May 31 | |
Sales ($20 per unit) | $854,000 |
Variable expenses: | |
Variable cost of goods sold | 555,100 |
Variable selling expense | 128,100 |
Total variable expenses | 683,200 |
Contribution margin | 170,800 |
Fixed expenses: | |
Fixed manufacturing overhead | 105,570 |
Fixed selling and administrative | 35,190 |
Total fixed expenses | 140,760 |
Net operating income | $ 30,040 |
The company produced 35,190 units in May and the beginning inventory consisted of 8,750 units. Variable production costs per unit and total fixed costs have remained constant over the past several months. |
Under absorption costing, for May the company would report a: |
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2 Q10
Khanam Corporation, which has only one product, has provided the following data concerning its most recent month of operations: |
Selling price | $161 |
Units in beginning inventory | 0 |
Units produced | 9,200 |
Units sold | 9,300 |
Units in ending inventory | 1,200 |
Variable costs per unit: | |
Direct materials | $36 |
Direct labor | $53 |
Variable manufacturing overhead | $17 |
Variable selling and administrative | $27 |
Fixed costs: | |
Fixed manufacturing overhead | $73,600 |
Fixed selling and administrative | $166,300 |
The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. |
What is the net operating income for the month under absorption costing?
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2 Q12
Khanam Corporation, which has only one product, has provided the following data concerning its most recent month of operations: |
Selling price | $163 |
Units in beginning inventory | 0 |
Units produced | 7,100 |
Units sold | 6,800 |
Units in ending inventory | 300 |
Variable costs per unit: | |
Direct materials | $28 |
Direct labor | $58 |
Variable manufacturing overhead | $22 |
Variable selling and administrative | $22 |
Fixed costs: | |
Fixed manufacturing overhead | $191,700 |
Fixed selling and administrative | $28,800 |
The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. |
What is the unit product cost for the month under absorption costing?
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2 Q13
Harris Corporation produces a single product. Last year, Harris manufactured 28,000 units and sold 22,500 units. Production costs for the year were as follows: |
Fixed manufacturing overhead | $336,000 |
Variable manufacturing overhead | $215,600 |
Direct labor | $134,400 |
Direct materials | $229,600 |
Sales were $1,046,250, for the year, variable selling and administrative expenses were $117,000, and fixed selling and administrative expenses were $201,600. There was no beginning inventory. Assume that direct labor is a variable cost. |
The contribution margin per unit would be: (Do not round intermediate calculations.) |
$25.80 per unit
$20.60 per unit
$16.10 per unit
$21.70 per unit