Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 72 Direct labor $ 50 Variable manufacturing overhead $ 10 Sales commission $ 8 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the cost of the company's ending inventory? Multiple Choice $ 132,000 $162,000 $140,000 $27,000

Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 72 Direct labor $ 50 Variable manufacturing overhead $ 10 Sales commission $ 8 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the cost of the company's ending inventory? Multiple Choice $ 132,000 $162,000 $140,000 $27,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Problem E. ABC Company produced 100,000 units of its only product in 2020, its first year of operations. Variable production costs was P60 per unit of product. Planned and actual fixed production costs was P800,000 and marketing and administrative costs totaled P500,000 in 200A. Roz Corporation sold 80,000 units of the product in 200A at a selling price of P80 per unit. 15. What is the cost of the ending inventory assuming variable costing is used?
The following information applies to the questions displayed below.]Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow. 2018 2019 Sales ($46 per unit) $ 920,000 $ 1,840,000 Cost of goods sold ($31 per unit) 620,000 1,240,000 Gross margin 300,000 600,000 Selling and administrative expenses 290,000 340,000 Net income $ 10,000 $ 260,000 Additional Information Sales and production data for these first two years follow. 2018 2019 Units produced 30,000 30,000 Units sold 20,000 40,000 Variable cost per unit and total fixed costs are unchanged during 2018 and 2019. The company's $31 per unit product cost consists of the following. Direct materials $ 5 Direct labor 9 Variable overhead 7 Fixed overhead ($300,000/30,000 units) 10 Total product cost per unit $ 31 Selling…
Garfield Company has the following information for the current year: Beginning fixed manufacturing overhead in inventory Fixed manufacturing overhead in production Ending fixed manufacturing overhead in inventory $210,000 800,000 70,000 Beginning variable manufacturing overhead in inventory Variable manufacturing overhead in production Ending variable manufacturing overhead in inventory What is the difference between operating incomes under absorption costing and variable costing? OA. $10,000 OB. $80,000 O C. $100,000 O D. $140,000 $30,000 100,000 30,000
Solve this problem with question
Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Unit Per Year Selling price $ 200 Direct materials $ 69 Direct labor $ 50 Variable manufacturing overhead $ 12 Sales commission $ 8 Fixed manufacturing overhead $ 300,000 Using variable costing, what is the company's contribution margin? Multiple Choice • $549,000 • $423,000 • $351,000 • $621,000
Give me correct answer with explanation.
lagan, Inc. has collected the following data. (There are no beginning inventories.) Units produced Sales price 700 units $120 per unit Direct materials $50 per unit Direct labor Fixed manufacturing overhead $12 per unit Variable manufacturing overhead $9 per unit $17,500 per year Variable selling and administrative costs $4 per unit $18,000 per year Fixed selling and administrative costs What is the ending balance in Finished Goods Inventory using variable costing if 400 units are sold? OA. $21,300 OB. $15,000 C. $18,600 D. $6,300
7
please answer no. 2 cost of production report for A,D,E
Please do not give solution in image format thanku
Super Bike Manufacturing Company presents the following data for year 2022: Opening inventory: 0 Units Sales: 8,000 Units Production: 10,000 Units • Closing inventory: 2,000 Units Direct materials: $240 • Direct labor: $280 • Variable manufacturing overhead expenses: $100 • Variable selling and administrative expenses: $40 • Fixed manufacturing overhead expenses: $1200,000 • Fixed selling and administrative expenses: $800,000 Required: Using the data given above, compute the unit product cost of one bike under: 1. absorption costing system. 2. variable costing system.
For 2020, Roberts Ltd., had sales of 150,000 units and production of 200,000 units. Other information for the year included: Direct manufacturing labor Variable manufacturing overhead Direct materials $197,500 100,000 160,000 100,000 Variable selling expenses Fixed administrative expenses Fixed manufacturing overhead 100,000 250,000 There was no beginning inventory. Required: What is the ending finished goods inventory under absorption costing and variable costing? The company uses actual costing and rounds to the cent (two decimal places) when calculating cost per unit. a. $177,000, $114,500 O b.s189, 754, $110, 650 Oc s115, 478, $ 120, 560 d. $185, 950, $113, 755