Denton Company manufactures and sells a single product. Cost data for the product are given: Variable costs per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per months Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month Units Produced 21,000 July 17,000 August 21,000 25,000 The product sells for $45 per unit. Production and sales data for July and August, the first two months of operations, follow Unite Sold Sales Cost of goods sold Gross margin Selling and administrative expenses Set operating income 16 10 The company's Accounting Department has prepared the following absorption costing income statements for July and August July $765,000 391,000 $ 20 $ 84,000 175,000 $ 259,000 Absorption costing Variable costing Show Transcribed Text 3 374,000 192,000 $162,000 $350,000 Required: 1. Determine the unit product cost under a. Absorption costing. b. Variable costing. 2. Prepare variable costing income statements for July and August 3. Reconcile the variable costing and absorption costing net operating incomes Complete this question by entering your answers in the tabs below. Net operating in Required 1 Required 2 Required 3 Determine the unit product cost under: (a) Absorption costing, (b) Variable costing Unik Product Cost Show Transcribed Text Required Required 1 Required 2 Required 3 Prepare variable costing income statements for July and August Denton Company Variable Casting Income Statement J August $1,125,000 575,000 550,000 200,000 Complete this question by entering your answers in the tabs below. < Required 2 July Show Transcribed Text Required 2 > August Complete this question by entering your answers in the tabs below. Required 3> * Ć Required 1 Required 2 Reconcile the variable costing and absorption costing net operating incomes. (Enter any losses or deductions as a negative. value] Reconciliation of Variable Costing and Absorption Cesting Net Operating incomes Variable costing net operating insome po Add (deduct) faed manufacturing overhead cest defered in (reased from inventory under absorption costing Absorption costing net operating income (los) Required 3 > August

Denton Company manufactures and sells a single product. Cost data for the product are given: Variable costs per unit: Direct materials. Direct labor Variable manufacturing overhead Variable selling and administrative July August Total variable cost per unit. Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month The product sells for $47 per unit. Production and sales data for July and August, the first two months of operations, follow: Units Produced 21,000 21,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income. $ 3 11 Units Sold 17,000 25,000 Required: 1. Determine the unit product cost under: a. Absorption costing. b. Variable costing. 4 1 $ 19 The company's Accounting Department has prepared the following absorption costing income statements for July and August: July $ 799,000 408,000 391,000 183,000 $ 208,000 $ 126,000 166,000 $ 292,000 2. Prepare variable costing income…

The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit 0 30,300 24,700 $ 465 $ 25 Fixed per year $ 469,300 Manufacturing costs: Direct materials cost per unit $ 211 Direct labor cost per unit $ 53 Variable manufacturing overhead cost per unit $ 36 $ 454,500 Fixed manufacturing overhead per year Assume that direct labor is a variable cost. Required: a. Compute the unit product cost under both the absorption costing and variable costing approaches. b. Prepare an income statement for the year using absorption costing. c. Prepare an income statement for the year using variable costing. d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare an…

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

During the first month of operations ended July 31, Head Gear Inc. manufactured 25,600 hats, of which 24,100 were sold. Operating data for the month are summarized as follows: Line Item Description Amount Amount Sales   $226,540 Manufacturing costs:         Direct materials $138,240       Direct labor 35,840       Variable manufacturing cost 17,920       Fixed manufacturing cost 15,360 207,360 Selling and administrative expenses:         Variable $12,050       Fixed 8,800 20,850 During August, Head Gear Inc. manufactured 22,600 hats and sold 24,100 hats. Operating data for August are summarized as follows: Line Item Description Amount Amount Sales   $226,540 Manufacturing costs:         Direct materials $122,040       Direct labor 31,640       Variable manufacturing cost 15,820       Fixed manufacturing cost 15,360 184,860 Selling and administrative expenses:         Variable $12,050       Fixed 8,800 20,850 Required: Question…

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 The total gross margin for the month under absorption costing is: Multiple Choice $81,900 $21,840 $128,430 $139,230 $ 144 0 3,020 2,730 290 $ 47 $21 $ 16 $9 $90,600 $35,490

S Conner's Fixtures produces and sells a single product, a specialized plumbing fixture. The business began operations on January 1 this year and its costs incurred during the year include the following: Variable costs (based on units produced): Direct materials cost Direct manufacturing labor costs Indirect manufacturing costs Administration and marketing Fixed costs: Administration and marketing costs Indirect manufacturing costs $ 24,000 108,000 21,600 13,500 72,000 24,000 At the end of the first year (December 31), direct materials inventory consisted of 7,500 pounds of material. Production in that year was 10,000 fixtures. All prices and unit variable costs remained constant during the year. Sales revenue for year 1 was $293,250. Finished goods inventory was $24.420 on December 31. Each finished fixture requires 3.20 pounds of material. Required: a. Compute the direct materials inventory cost, December 31. b. Compute the finished goods ending inventory in units (fixtures) on…

Sagar

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:   Units in beginning inventory 0 Units produced 4,450 Units sold 4,350 Units in ending inventory 100 Variable costs per unit:   Direct materials $ 50 Direct labor $ 52 Variable manufacturing overhead $ 15 Variable selling and administrative expense $ 13 Fixed costs:   Fixed manufacturing overhead $93,450 Fixed selling and administrative expense $43,500 What is the variable costing unit product cost for the month? $130 per unit $151 per unit $117 per unit $129 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 (6, 100 units) $201, 300 Cost of goods sold: Cost of goods manufactured (7, 100 units) $163,300 Inventory, April 30 (1,000 units) (23,000) Total cost of goods sold (140, 300) Gross profit $61,000 Selling and administrative expenses (36,830) Operating income $24, 170 If the fixed manufacturing costs were $ 44,091 and the fixed selling and administrative expenses were $18, 040, 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 $Sales Variable cost of goods sold: $- Select - - Select - - Select - $- Select - - Select - $ - Select - Fixed costs: $Variable cost of goods sold Fixed…