ABSORPTION COSTING VERSUS THROUGHPUT COSTING The book The Goal illustrates the concept of throughput costing. For the problem below prepare all journal entries and determine the impact on the income statement of the differences between absorption costing (normal accounting) and throughput costing. HINT: pay very careful attention to definitions of throughput, inventory and operating expense from the book           BUDGETED MANUFACTURING COSTS         DIRECT MATERIAL     $20 PER UNIT   DIRECT LABOR     $2 PER UNIT   VARIABLE OVERHEAD   $10 PER UNIT   FIXED OVERHEAD     $150,000       YEAR 1               NO BEGINNING INVENTORY           ACTUAL COSTS OF PRODUCTION EQUALS ABOVE MANUFACTURING COSTS PURCHASE DIRECT MATERAILS OF $200,000       INCUR SELLING AND ADMIN COSTS OF $80,000       #UNITS PRODUCED                 10,000       # UNITS SOLD                   9,000       SALES PRICE OF UNITS SOLD   $100       YEAR 2               THERE IS BEGINNING INVENTORY         ACTUAL COSTS OF PRODUCTION EQUALS ABOVE MANUFACTURING COSTS PURCHASE DIRECT MATERAILS OF $160,000       INCUR SELLING AND ADMIN COSTS OF $80,000       #UNITS PRODUCED                   8,000 UNITS     # UNITS SOLD                   9,000 UNITS     SALES PRICE OF UNITS SOLD   $100       REQUIRED:             1. PREPARE ALL JOURNAL ENTRIES FOR BOTH YEARS TO REFLECT THE ABOVE TRANSACTIONS     UNDER NORMAL ABSORPTION COSTING AND UNDER THROUGHPUT COSTING

Solve requirment d, e, and f

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Part 2: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Full Variable tab), complete thecalculations listed below.• Calculate the value of ending inventory under full or absorption costing.• Calculate the value of ending inventory under variable costing.Which method you think is more helpful to managers and why.  Cookie Business     Productions Costs:   Direct material  $        0.60 Direct labor  $        1.00 Variable manufacturing overhead  $        0.40 Total variable manufacturing costs per unit  $        2.00     Fixed manufacturing overhead per year  $  139,000.00     In addition, the company has fixed selling and administrative costs: Fixed selling costs per year  $    50,000.00 Fixed administrative costs per year  $    65,000.00     Selling price per cookie   $              3.75     Number of cookies produced        2,780,000 Number of cookies sold        2,600,000     Full (absorption) costing :       Full…

Please do not give solution in image format thanku

Please do not give solution in image format thanku

Costing information for Emily Elephant Limited is as follows:Direct material cost per unitDirect labour cost per unitVariable manufacturing overhead cost per unitVariable selling and administrative overhead cost per unitFixed manufacturing overhead for the year£41 £43£6£4£44,000Budgeted production for the year was 4,000 units. What is the budgeted unit product cost according to an absorption costing system? a. £90 b. £101 c. £105d. £94

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how do I explain this? Metric                                                        Score                               Percent of Total Possible             Contribution Margin                                       4.7                                      /5      Plant Utilization                                             5.0                                      /5 Days of Working Capital                                5.0                                      /5      Stock-out Costs                                              5.0                                     /5         Inventory Carrying Costs                                3.6                                     /5 Overall  Score                                                 23.3                                  /25