Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials. 80,000 units 48,000 units $ 24 per unit $26 per unit $3 per unit Direct labor Variable overhead Fixed overhead $ 600,000 in total Belle Company's product is sold for $80 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $320,000 per year. Compute the net income under absorption costing. Multiple Choice $80,000 $98,000 $296,800

Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow: 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 Total variable.cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 0 20,000 19,000 1,000 $ 50 80 20 10 $ 160 $ 700,000 285,000 $ 985,000 Required: 1. Assume the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume the company uses variable costing. Prepare a contribution format income statement for last year. 3. How many barbecue grills must be sold to break even?

YaHo, Ltd. is a manufacturer that produces a single product.  Below is data concerning its most recent month of operations:  Units in beginning inventory 0 Units produced 81,450 Units sold 77,820 Selling price per unit: $13.80 Variable costs per unit:        Direct materials $2.90      Direct labor $2.05      Variable manufacturing overhead $1.30      Variable selling and administrative expense $1.05 Fixed costs (per month):        Fixed manufacturing overhead $195,480      Fixed selling and administrative expense $218,825  Calculate net income for the month using variable costing.   a. $173,236   b. $153,781   c. $115,120   d. $100,237   e. $91,525

Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow.  Income Statements (Absorption Costing) Year 1 Year 2 Sales ($50 per unit) $ 1,350,000 $ 2,550,000 Cost of goods sold ($39 per unit) 1,053,000 1,989,000 Gross profit 297,000 561,000 Selling and administrative expenses 247,000 271,000 Income $ 50,000 $ 290,000 Additional Information Sales and production data for these first two years follow.   Units Year 1 Year 2 Units produced 39,000 39,000 Units sold 27,000 51,000   Variable costs per unit and fixed costs per year are unchanged during these years. The company's $39 per unit product cost using absorption costing consists of the following.   Direct materials $ 16 Direct labor 9 Variable overhead 5 Fixed overhead ($351,000/39,000 units) 9 Total product cost per unit $ 39   Selling and administrative expenses consist of the following.   Selling and…

Potter Company has the following information for the current year:   Beginning fixed manufacturing overhead in inventory $95,000 Fixed manufacturing overhead in production 375,000 Ending fixed manufacturing overhead in inventory 25,000   Beginning variable manufacturing overhead in inventory $10,000 Variable manufacturing overhead in production 50,000 Ending variable manufacturing overhead in inventory 15,000  What would be the estimated cost per unit if Potter Company expects to sell 2,000 units next year?   a. $300 b. $312 c. $370 d. $498 e. $500

Cavy Company completed 10,510 units during the year at a cost of $746,210. The beginning finished goods inventory was 2,310 units valued at $152,460. Assuming a FIFO cost flow, determine the cost of goods sold for 9,490 units. $4

Adams Company makes a single product that it sells for $8.45 per unit. Provided below is information about this product for the past nine months: Month January February March April May June July August September Total Cost Incurred $28,730 $24,580 $30,660 $16,890 $19,120 $20,610 $17,490 $25,380 $15,540 Units Sold 6,400 5,150 6,900 2,950 3,600 4,150 3,350 5,500 2,700 Adams Company expects to sell 4,620 units of this product during October. Using the high-low method, calculate Adams Company's expected margin of safety for October.

Data concerning Dakota Enterprises' operations last year appear below: Units in the Beginning Inventory -0- Units Units Produced 4,000 Units Units Sold 3,900 Units Selling Price Per Unit $140   Variable Costs Per Unit:           Direct Material $41         Direct Labor 43         Manufacturing Overhead 6         Sellling and Administrative Costs 4   Fixed Costs in Total:           Manufacturing Overhead $84,000         Selling and Administrative Costs 39,000   Match each of the following items with the proper amount.                                                                                                                               Unit Product Cost , Using Absorption Costing                                                                                                                               Unit Gross Margin…

Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year 105,000 units Units sold this year 63,000 units Direct materials $ 29 per unit Direct labor $ 31 per unit Variable overhead $ 3 per unit Fixed overhead $ 918,750 in total Belle Company's product is sold for $89 per unit a Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $370,000 per year. Compute the net income under variable costing.

A manufacturer reports the following costs to produce 14,000 units In Its first year of operations: direct materials, $14 per unit, direct lalbor, $10 pe w and fixed overhead, $224,000. Of the 14,000 units produced, 12,900 were sold, and 1,100 remain in Inventory at year-end.Under varlable conting, the Multiple Cholce $27,500. $26,400. $38,500. $44,000. $56,100.