Easton Pump Company's planned production for the year just ended was 19,300 units. This production level was achieved, and 21,200 units were sold. Other data follow: Direct material used Direct labor incurred Fixed manufacturing overhead Variable manufacturing overhead Fixed selling and administrative expenses Variable selling and administrative expenses Finished-goods inventory, January 1 $ 582,860 297,220 399,510 179,490 349,330 114,835 2,400 units The cost per unit remained the same in the current year as in the previous year. There were no work-in-process inventories at the beginning or end of the year. Required: 1. What would be Easton Pump Company's finished-goods inventory cost on December 31 under the variable-costing method? Note: Do not round intermediate calculations. 2-a. Which costing method, absorption or variable costing, would show a higher operating income for the year? 2-b. By what amount? Note: Do not round intermediate calculations.

Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results:   1 Sales (28,800 × $75) $2,160,000.00 2 Manufacturing costs (28,800 units):   3 Direct materials 1,209,600.00 4 Direct labor 316,800.00 5 Variable factory overhead 115,200.00 6 Fixed factory overhead 221,760.00 7 Fixed selling and administrative expenses 28,400.00 8 Variable selling and administrative expenses 34,900.00       The company is evaluating a proposal to manufacture 36,000 units instead of 28,800 units, thus creating an ending inventory of 7,200 units. Manufacturing the additional units will not change sales, unit variable factory overhead costs, total fixed factory overhead cost, or total selling and administrative expenses. Required: a. Prepare an estimated income statement, comparing operating results if 28,800 and 36,000 units are manufactured in (1) the absorption costing…

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 month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month July August The product sells for $48 per unit. Production and sales data for July and August, the first two months of operations, follow: Units Produced 27,000 27,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income $ 108,000 172,000 $ 280,000 Required: 1. Determine the unit product cost under: a. Absorption costing. b. Variable costing. $ 5 11 3 2 $ 21 Units Sold 23,000 31,000 The company's Accounting Department has prepared the following absorption costing income statements for July and August: July August $ 1,104,000 $ 1,488,000 529,000 575,000 218,000 $ 357,000 713,000 775,000 234,000…

At the end of the first year of operations, 5,600 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $29.10   Direct labor 13.20   Fixed factory overhead 4.80   Variable factory overhead 4.20   Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $

Trainor Incorporated, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 112 Units in beginning inventory 0 Units produced 4,900 Units sold 4,500 Units in ending inventory 400 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 19 $ 45 $ 6 $ 9 Fixed costs: Fixed manufacturing overhead $ 1,17,600 Fixed selling and administrative $ 22,500 What is the net operating income for the month under absorption costing? A. ($19,600) B. $9,600 C. $8,400 D. $18,000

Pacific Inc. has provided the following data for the latest quarter of the most recent year:  Sales $300,000 Fixed manufacturing overhead 55,000 Direct labour 72,500 Fixed selling expense 46,250 Variable manufacturing overhead 41,000 Variable administrative expense 48,000 Direct materials 51,500 Fixed administrative expense 44,500 Variable selling expense 49,750 Assume that direct labour is a variable cost and that there was no beginning or ending inventories.The total contribution margin of Pacific for the latest quarter was?   Multiple Choice   $87,000.   $176,000.   $37,250.   $211,000.

The following information for the past year for the Blaine Corporation has been​ provided:   Fixed​ costs:   Manufacturing $130,000 Marketing 18,000 Administrative 21,000 Variable​ costs:   Manufacturing $113,000 Marketing 35,000 Administrative 38,000   During the​ year, the company produced and sold 60,000units of product at a selling price of $19.19 per unit. There was no beginning inventory of product at the beginning of the year.   What is the contribution margin for the​ year?

Sims Company began operations on January 1. Its cost and sales information for this year follow. $ 30 per unit $ 50 per unit $ 40 per unit Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Sales price $ 6,000,000 per year $ 11 per unit $ 4,000,000 per year 100,000 units 70,000 units $360 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing, Complete this question by entering your answers in the tabs below. Required 1 Required 2