The net operating income (loss) under absorption costing closest to:
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- Using the information in the previous exercises about Marleys Manufacturing, determine the operating income for department B, assuming department A sold department B 1,000 units during the month and department A reduces the selling price to the market price.Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.The following data were adapted from a recent income statement of The Procter Gamble Company (PG): Assume that the variable amount of each category of operating costs is as follows: a. Based on the data given, prepare a variable costing income statement for Procter Gamble, assuming that the company maintained constant inventory levels during the period. b. If Procter Gamble reduced its inventories during the period, what impact would that have on the operating income determined under absorption costing?
- Summarized data for Walrus Co. for its first year of operations are: A. Prepare an income statement under absorption costing B. Prepare an income statement under variable costingSummarized data for Backdraft Co. for its first year of operations are as follows: A. Prepare an income statement under absorption costing B. Prepare an income statement under variable costingIncome Statements under Absorption and Variable Costing In the coming year, Kalling Company expects to sell 28,700 units at 32 each. Kallings controller provided the following information for the coming year: Required: 1. Calculate the cost of one unit of product under absorption costing. 2. Calculate the cost of one unit of product under variable costing. 3. Calculate operating income under absorption costing for next year. 4. Calculate operating income under variable costing for next year.
- Contribution margin, break-even sales, cost-volume-profit chart, margin of safety, and operating leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: It is expected that 12,000 units will be sold at a price of 240 a unit. Maximum sales within the relevant range are 18,000 units. Instructions 1. Prepare an estimated income statement for 20Y7. 2. What is the expected contribution margin ratio? 3. Determine the break-even sales in units and dollars. 4. Construct a cost-volume-profit chart indicating the break-even sales. 5. What is the expected margin of safety in dollars and as a percentage of sales? (Round to one decimal place.) 6. Determine the operating leverage.At the end of the first year of operations, 21,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.Russell Corporation has provided the following data for its two most recent years of operation: Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory $102,000 $125,000 $86,000 $ $ $ $ $153,000 $ $ Year 1 0 11,000 8,000 3,000 The net operating income (loss) under absorption costing in Year 1'is closest to: 70 14 6 2 264,000 74,000 Year 2 4 3,000 12,000 14,000 1,000
- Bryans Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 53Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials $ 13Direct labor $ 6Variable manufacturing overhead $ 5Fixed manufacturing overhead per year $ 63,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $ 4Fixed selling and administrative expense per year $ 71,000 Year 1 Year 2Units in beginning inventory 0 3,000Units produced 9,000 7,000Units sold 6,000 7,000Units in ending inventory 3,000 3,0000 The net operating income (loss) under absorption costing in Year 2 is closest to:$118,000$41,000$47,000$146,000Plummer Corporation has provided the following data for its two most recent years f operation: Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year. Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year. Units in beginning inventory Units produced during the year Units sold during the year. Units in ending inventory The unit product cost under absorption costing in Year 2 is closest to: Multiple Choice O 000 $9.00 $19.00 $28.00 Year 1 Year 2 0 $33.00 9,000 7,000 2,000 2,000 7,000 8,000 1,000 $ 44 $9 $ 6 $4 $ 63,000 $5 $ 66,000Bradon Corporation has provided the following data for its two most recent years of operation: Selling price per unit Manufacturing costs: Variable manufacturing cost per Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory $75,000 unit produced: $137,000 $15,000 $7,000 64 64 $ $ $ $ $ 97,000 Year 1 0 87 9,000 7,000 2,000 10 8 6 5 The net operating income (loss) under variable costing in Year 2 is closest to: 76,000 Year 2 2,000 7,000 5,000 4,000