Pierre Corporation manufactures a single product that it sells for $122 per unit. The company had the following cost structure thsi year: Variable Manufacturing Cost per unit: $27 Variable Selling and Administrative cost per unit: $14 Fixed Manufacturing Cost, Total: $2,713,000 Fixed Selling and Administrative Costs, Total: $1,282,000 There were no units in beginning inventory. During the year, 93,000 units were produced and 86,000 units were sold.   Under absorption costing, the unit product cost is: Select one: A. $56.17 B. $87.45 C. $28.91 D. $70.17 E. $55.91

Q: Aaron Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost is the cost incurred on the production or making of a product. It is the cost that…

Q: What is the net operating income this year using the absorption costing method? Please prepare the…

A: 1. Calculate product cost per unit for absorption costing:  Product cost per unit = Variable cost…

Q: Aaron Corporation, which has only one product, has provided the following data concerning its most…

A: PLEASE LIKE THE ANSWER YOUR RESPONSE MATTERS   Calculate total Gross profit Sales (3000*90)…

Q: 18. W Company produces a single product. Last year, the company had 16,000 units in its beginning…

A: The amount of goods remaining at the end of the accounting period is called the ending inventory.…

Q: Pennell Company gathered the following information for the year ended ecember 31, 2018. During the…

A: Solution:- Calculation of contribution margin per unit as follows under:-

Q: Pacheo Corporation, which has only one product, has provided the following data concerning its most…

A: Under absorption costing, manufacturing costs are considered product costs and included in…

Q: . If the company uses absorption costing, compute gross profit assuming (a) 12,800 units are…

A: In absorption costing the fixed overhead costs is allocated  to all units produced for an accounting…

Q: Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a…

A: Unit product cost under absorption costing is cost of producing the one unit. It includes direct…

Q: Ing Corporation, which has only one product, has provided the following data concerning its most…

A: Unit product cost (variable costing) = Direct materials + Direct labor + Variable manufacturing…

Q: Nielson Corp. sells its product for $6.600 per unit. Variable cost per unit are: manufacturing,…

A: Answer  Correct option is  = 2nd  option             $4800 Explanation:  Cogs = Variable Cost  +…

Q: BLUE INC. has provided the following data for its two most recent years of operation: Selling…

A:

Q: Aaker Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost includes all the variable manufacturing expenses such as direct expenses, direct labor,…

Q: Neef Corporation has provided the following data for its two most recent years of operation:…

A: Overhead cost are those cost which are not directly linked to production of a product but are…

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 26,160 units and sold…

A: Selling price per unit = $971,850 / 20,900 units = $46.50   Variable cost per unit = [($188,352 +…

Q: A manufacturer reports direct materials of $5 per unit, direct labor of $2 per unit, and variable…

A: Income statement is a financial statement that shows the profitability, total revenue and total…

Q: Trez Company began operations this year. During this year, the company produced 100,000 units and…

A: The income statement includes all the revenue and expenses. The resulting amount after deducting…

Q: On June 1, Turner Corp. had 1,200 units of Product 33 on hand, at a cost of $12.25 per unit. On June…

A: LIFO, or Last-In, First-Out, is an inventory valuation method where the last items purchased or…

Q: Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no…

A: Absorption costing or Full costing  refers to a method of costing to account for all the costs of…

Q: Nelter Corporation, which has only one product, has provided the following data concerning its most…

A: Variable Costing: In management accounting, the notion of variable costs is known as variable…

Q: Neef Corporation has provided the following data for its two most recent years of operation:…

A: Variable Costing Income Statement: Under the variable costing method or approach, the product cost…

Q: Helmers Corporation manufactures a single product. Variable costing net operating income last year…

A: Absorption costing net operating income last year = Variable costing net operating income last year…

Q: A manufacturer reports the following costs to produce 25,000 units in its first year of operations:…

A: We know that under variable costing inventory value includes all variable costs. That is, Value of…

Q: A company produces a single product. Last year, fixed manufacturing overhead was $25,000, variable…

A: Formula: Net income = Total Revenues - Total expenses.

Q: B. Johnson Co. produces a single product. Last year, the firm had 25,000 units in its ending…

A: ABSORPTION COSTING  Absorption Costing is a Cost managerial Accounting method in which All Cost…

Q: Rhea Corporation has provided the following data for its two most recent years of operation:…

A: Operating income: Income statement reports revenues and expenses from business operations, and the…

Q: Gabuat Corporation, which has only one product, has provided the following data concerning its most…

A: Absorption costing: It is a costing technique or method under which all costs like fixed and…

Q: The Dorset Corporation produces and sells a single product. The following data refer to the year…

A: Introduction: Income statement: All revenues and expenses are recorded in Income statement. It tells…

Q: Steering Manufacturing produces snow shovels. The selling price per snow shovel is $29.00. There is…

A: Ending inventory refers to the amount of inventory or stock that a business has on hand at the end…

Q: Belle Company reports the following information for the current year. All beginning inventory…

A: Net income is the amount earned by an entity after deducting the expenses from the revenues.

Q: A. Compute net income under i. Absorption Costing $ ii. Variable Costing

A: The variable costing method and absorption costing are two methods of costing to find the cost of…

Q: he following information for the past year for the Magic Corporation has been provided: Fixed costs:…

A: Contribution margin refers to a gross or per unit basis. it shows that the incremental money is…

Q: Gabuat Corporation, which has only one product, has provided the following data concerning its most…

A: Variable costing is a method of costing under which all variable costs are part of product costs.

Q: Under variable costing, the value of the inventory is:

A: Option D is correct.

Q: g overhead costs releasec nted to $23,500. What w come last year?

A: Answer : Net Operating income using absorption costing : Net Operating income Under  Variable…

Q: Alyssa Company produces a single product. Last year, the company had 16,000 units in its beginning…

A: Total increase in inventory = Higher profit as per absorption costing / fixed manufacturing overhead…

Q: A company that produces a single product had a net operating income of $87,000 using variable…

A: The difference in the net operating income of variable costing and absorption costing occurs only…

Q: Trez Company began operations this year. During this year, the company produced 100,000 units and…

A: VARIABLE COSTINGVariable Costing is a Cost Managerial Accounting Method in which all variable cost…

Q: unit cost of goods manufactured,

A: Variable costing refers to the concept which assigns the cost to inventory. Absorption costing…

Q: Rick Corporation produces a single product. Variable manufacturing costs is P20 per unit and fixed…

A: Inventory is the current asset posted on the balance sheet of the company.

Q: During the most recent year, ABC Company reported the following data. During the year 10,000 units…

A: Under absorption costing fixed overhead costs are allocated to each unit of product produced during…

Q: cme Company is a manufacturer. Here are data regarding the current month: Sales revenue Fixed…

A: INCOME STATEMENTIncome Statement is one of the Important Financial Statements of the Company. Income…

Q: Silver Corporation produces a single product. During the current year, Silver produced 30,000 units…

A: The major difference in the income of variable costing and absorption costing occurs due to the…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.