FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following data is for a company that produces a single product.
selling price
24
193
Units in beginning inventory
Units produced
Units sold
3,090
2,910
variable costs per unit:
Direct materials
53
Direct labor
$
24
59
Variable manufacturing overhead
variable selling and administrative expense
Fixed costs:
15
13
Fixed manufacturing overhead
Fixed selling and administrative
$ 89,610
$ $,730
Requlred:
a. What Is the unit product cost for the month under varlable costing?
b. What is the unit product cost for the month under absorption costing?
c. Prepare a contribution format income statement for the month using varlable costing.
d. Prepare an Income statement for the month using absorption costing.
e. Reconcile the varlable costing and absorption costing net operating incomes for the month.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Required C
Required D
Required E
Reconcile the variable costing and absorption costing net operating incomes for the month.
Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes
Variable costing net operating income (loss)
Absorption costing net operating income (loss)
< Required D
Required E
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Transcribed Image Text:The following data is for a company that produces a single product. selling price 24 193 Units in beginning inventory Units produced Units sold 3,090 2,910 variable costs per unit: Direct materials 53 Direct labor $ 24 59 Variable manufacturing overhead variable selling and administrative expense Fixed costs: 15 13 Fixed manufacturing overhead Fixed selling and administrative $ 89,610 $ $,730 Requlred: a. What Is the unit product cost for the month under varlable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using varlable costing. d. Prepare an Income statement for the month using absorption costing. e. Reconcile the varlable costing and absorption costing net operating incomes for the month. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Reconcile the variable costing and absorption costing net operating incomes for the month. Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) Absorption costing net operating income (loss) < Required D Required E
A company has two divisions: Divislon B and Division S. The following report is for the most recent operating perlod:
Division
Division B
Sales
variable expenses
Traceable fixed expenses
Common fixed expense
$228,000 $152,800
$ 59, 280 $ 31,920
$147,110 $ 65,360
$ 27,900 $ 18,600
The common fixed expenses have been allocated to the divisions on the basis of sales.
Required:
a. What Is Division B's break-even in sales dollars?
b. What Is Division S's break-even In sales dollars?
c. What is the company's overall break-even in sales dollars?
(For all requlrements, do not round Intermedlate calculatlons. Round your answer to the nearest whole dollar amount.)
a. Division B's break-even in sales dollars
b. Division S's break-even in sales dollars
c. Company's overall break-even in sales dollars
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Transcribed Image Text:A company has two divisions: Divislon B and Division S. The following report is for the most recent operating perlod: Division Division B Sales variable expenses Traceable fixed expenses Common fixed expense $228,000 $152,800 $ 59, 280 $ 31,920 $147,110 $ 65,360 $ 27,900 $ 18,600 The common fixed expenses have been allocated to the divisions on the basis of sales. Required: a. What Is Division B's break-even in sales dollars? b. What Is Division S's break-even In sales dollars? c. What is the company's overall break-even in sales dollars? (For all requlrements, do not round Intermedlate calculatlons. Round your answer to the nearest whole dollar amount.) a. Division B's break-even in sales dollars b. Division S's break-even in sales dollars c. Company's overall break-even in sales dollars
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