How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?

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The Bradley Corporation produces a product with the following costs as of July 1, 20X1: Material Labor Overhead $ 4 per unit 2 per unit 2 per unit Beginning inventory at these costs on July 1 was 3,150 units. From July 1 to December 1, 20X1, Bradley Corporation produced 12,300 units. These units had a material cost of $4, labor of $6, and overhead of $3 per unit. Bradley uses LIFO inventory accounting. a. Assuming that Bradley Corporation sold 13,600 units during the last six months of the year at $18 each, what is its gross profit? Answer is complete but not entirely correct. Gross profit $ 74,800x b. What is the value of ending inventory? Answer is complete but not entirely correct. Ending inventory S 12,800 x

Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing. Sales price Direct materials Direct labor Variable overhead Fixed overhead $ 56.60 per unit $ 9.60 per unit $ 7.10 per unit $ 11.60 per unit $ 910,800 per year 1. Compute gross profit assuming (a) 66,000 units are produced and 66,000 units are sold and (b) 92,000 units are produced and 66,000 units are sold. 2. By how much would the company's gross profit increase or decrease from producing 26,000 more units than it sells? Complete this question by entering your answers in the tabs below. es Required 1 Required 2 Compute gross profit assuming (a) 66,000 units are produced and 66,000 units are sold and (b) 92,000 units are produced and 66,000 units are sold. (a) 66,000 Units Produced and 66,000 (b) 92,000 Units Produced and 66,000 Units Sold Units Sold Sales $ 3,735,600 $ 5,207,200 Cost of goods sold 2,838,000 3,514,400 Gross profit $…

Gurtner Corporation has provided the following data concerning last month’s operations.   Cost of goods manufactured $170,000 Underapplied overhead $ 4,000     Beginning Ending Finished goods inventory $33,000 $40,000   Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.  How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?   Multiple Choice   A. $170,000   B. $167,000   C. $203,000   D. $163,000

Sheffield Corp. sells its product for $70 per unit. During 2016, it produced 60,000 units and sold 50,000 units (there was no beginning inventory). Costs per unit are: direct materials $15, direct labor $12, and variable overhead $1. Fixed costs are: $720,000 manufacturing overhead, and $90,000 selling and administrative expenses. The per-unit manufacturing cost under absorption costing is: a. $41 b. $28 c. $40 d. $27

Peta, SA manufactures a single product that had the following cost structure this year: Variable Manufacturing Cost per unit: $15 Variable Selling and Administrative cost per unit: $8 Fixed Manufacturing Cost, Total: $261,000 Fixed Selling and Administrative Costs, Total: $132,000 They sold 13,000 units for $60 each during the year, and produced 21,000 units. What is the ending finished goods inventory under variable costing?   Select one: A. $99,429 less than under absorption costing. B. $50,286 less than under absorption costing. C. $114,286 less than under absorption costing. D. $120,000 less than under absorption costing. E. $64,000 less than under absorption costing.

Jax Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing.  Sales price $ 57.50 per unit Direct materials $ 10.50 per unit Direct labor $ 8.00 per unit Variable overhead $ 12.50 per unit Fixed overhead $ 1,237,500 per year  1. Compute gross profit assuming (a) 75,000 units are produced and 75,000 units are sold and (b) 110,000 units are produced and 75,000 units are sold.2. By how much would the company’s gross profit increase or decrease from producing 35,000 more units than it sells?

A company’s standard product cost is $9 per unit. Actual production costs were $11 per unit. The firm made 20 units and sold 17 units. The firm’s cost of goods sold was Select one: a. $220. b. $187 c. $153 d. $180

During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $4 per unit, Direct labor, $3 per unit, Variable overhead, $3 per unit, and Fixed overhead, $342,000. The company produced 38,000 units, and sold 29,500 units, leaving 8,500 units in inventory at year-end. What is the value of ending inventory under variable costing? Multiple Choice $161,500 $85,000 $427,000 $76,500 $342,000