Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor $143 0 6,850 6,550 300 Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $23 $53 $17 $17 $184,950 $ 27,300

Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor $143 0 6,850 6,550 300 Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $23 $53 $17 $17 $184,950 $ 27,300

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced $ 172 0 9,700 9,300 400 Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the net operating income (loss) for the month under variable costing? $6,000 $11,600 $17,600 ($40,000) $ 33 $75 $21 $ 25 $ 145,500 $ 10,300
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense 154 2,560 2,230 330 51 24 $. 15 16 $92,160 $11,150 The tegross margin for the month under absorption costing is: Multiple Chotce $62.440 S15.610, K Prev 4: of 10 Next > ere to search
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead $ 147 0 6,900 6,600 300 Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense What is the unit product cost for the month under variable costing? $ 24 $ 54 $ 18 $ 18 $ 186,300 $ 27,600 Multiple Choice $114 per unit $141 per unit $123 per unit
Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,600 units) Cost of goods sold: Cost of goods manufactured (6,600 units) Inventory, April 30 (900 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income Variable cost of goods sold: $138,600 (18,900) Fixed costs: $162,400 If the fixed manufacturing costs were $30,492 and the fixed selling and administrative expenses were $12,600, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 (119,700) $42,700 (25,720) $16,980
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Keyser Corporation, which has only one product, has provided the following data concerning its most recent month of operations Selling price $113 Units in beginning inventory 3700 Units produced 8,600 Units sold 8,700 Units in ending inventory 600 Variable costs per unit: Direct materials: Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $ 24 $ 41 $5 $ 15 $68,800 $ 162,700 The company produces the same number of units every month, although the sales in units very 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?
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units produced Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 1,000 $50 $47 $2 $8 $31,000 $69,000 There was no beginning or ending inventories. What is the unit product cost under variable costing?
Variable costs per unit: Direct materials A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory $ 131 0 3,320 2,890 430 $ 45 Direct labor Variable manufacturing overhead $ 15 $ 7 Variable selling and administrative expense Fixed costs: $ 19 Fixed manufacturing overhead $92,960 Fixed selling and administrative expense $28,900 The total gross margin for the month under absorption costing is:
Grace Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense $6,400 $18,600 $5,600 SS $(20,400) $ $ $ 95 0 3,500 3,100 400 22 What is the net operating income for the month under absorption costing? 2975 39 55,900 3,000
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