Absorption vs. variable costingPete’s Plant Stands manufactures wooden stands used by plant nurseries. In May, the company sold 16,560 stands. The cost per unit for the 18,000 stands produced in May was as follows: Direct material $9.00 Direct labor 6.00 Variable overhead 3.00 Fixed overhead 4.00 Total $22.00 There were no beginning inventories for May and no work in process at the end of May. a. What is the value of ending finished goods inventory using absorption costing? $Answerb. What is the value of ending finished goods inventory using variable costing? $Answerc. Which accounting method, variable or absorption, would have produced the higher net income for May?

Assume the following information appears in the standard cost card for a company that makes only one product:    Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 5 pounds $ 11.00 per pound $ 55.00 Direct labor 2 hours $ 17.00 per hour $ 34.00 Variable manufacturing overhead 2 hours $ 3.80 per hour $ 7.60 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. The actual variable overhead cost incurred during the period was $25,000. Assuming the company uses direct labor-hours to compute its predetermined overhead rate, what is the variable overhead efficiency variance?

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Net operating income for April under absorption costingA. 4,900 C. (11,100)B. 6,600 D. 11,500

Proctor has a policy of holding no inventories of any kind. Required: a. Compute materials price and efficiency variances. b. Compute materials mix and yield variances. Complete this question by entering your answers in the tabs below. Required A Required B Saved Compute materials price and efficiency variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Materials price variance Materials efficiency variance X-1 Y-7 Required A Required B > Total

Please heklp I am having issues solving this problem   Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April.   Work in process on April 1 had 110,000 units made up of the following.     Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 152,900     100 % Costs added by the Assembling Department             Direct materials $ 89,100     100 % Direct labor   37,540     60 % Manufacturing overhead   25,070     50 %   $ 151,710         Work in process, April 1 $ 304,610             During April, 510,000 units were transferred in from the Molding Department at…