Under absorption costing, the cost of goods sold would be: A. 39,000 B. 62,400 C. 70,200D. 71,000 Rebel Co. manufactures a single product and has the following cost structure:Variable cost per unitProductionSelling and administrative3During the year, 8,000 units were produced, and 7,800 units were sold.PSFixed CostsProductionSelling and administrativeP32,00016,000

In absorption costing, all manufacturing costs - both variable and fixed are treated as product…

Answered: Rebel Co. manufactures a single product…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Total Labour Cost is 315000 OMR. Total labour Fixed cost is 50000 OMR. Calculate Total labour Variable cost Select one: a. 165000 OMR b. 50000 OMR c. 265000 OMR d. 105000 OMR
Using the conventional method I got the cost per unit for Product A: 54 GBP and Product B: 110 GBP and using the ABC principles I got the cost for Product A: 80 GBP and for Product B: 63 GBP. What are the causes for any differences in the cost based on obtained results?
If 1,00,000 units are produced cost is 10,00,000. If 1,20,000 units are produced cost is Rs. 11,00,000 then what is fixed cost? a. Rs 5,00,000 Ob. Rs 6,00,000 O c. Rs 1,00,000 O d. Rs 10,00,000
The following data have been collected for four different cost items. Cost at Cost 100 Cost at Item units 140 units W $8,000 $10,560 X $5,000 $ 5,000 $6,500 $ 9,100 Z $6,700 $ 8,580 NAX Y Which of the following classifications of these cost items by cost behavior is correct? A) B) C) D) Cost W variable mixed variable mixed Cost X fixed fixed fixed fixed Cost Y mixed variable variable mixed Cost Z variable mixed variable mixed
Continuation for the problem The net income under variable costing would be: * a. P64,000 b. P60,000 c. P56,000 d. P52,000 The net income under absorption costing would be: * a. The same as the income under variable costing. b. P8,000 greater than the income under variable costing. c. P12,000 greater than the income under variable costing. d. P8,000 less than the income under variable costing.
Material costs Utilities costs Review costs Alternative 1 $86,000 $42,000 $39,000 $49,000 Alternative 2 $86,000 $41,100 $41,100 $49,000 Direct labor costs Identify the costs that are relevant and the costs that are not relevant, given the choice of alternatives. Calculate the differential cost between the alternatives. a. Material cost Utilities cost Review cost Direct labor cost b. Differential cost
Determine the weighted-average unit contribution margin. (Round answer to 2 decimal places, e.g. 10.25.) Weighted-average unit contribution margin $ 135,04
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year 60 24 24 $ 528,000 22 8 $4 $ 105,000 11 la. Assume the company uses absorption costing. Determine its product cost per unit. Absorption costing Per unit product cost using:
Subject: Cost Accounting
5
Question 1 (i) A cost that can be traced to a cost object is known as A. A fixed cost B. A variable cost C. A direct cost D. An indirect cost (ii) Which of the following terms denotes the response of a cost to change in business activity: A. Cost accumulation B. Cost apportionment C. Cost reapportionment D. Cost behaviour (iii) Production of 100 units requires one supervisor at £30,000 p.a. If production is between 100-200 units then two supervisors are required at a total of £60,000 p.a. Such cost behaviour would be described as: A. Fixed B. Stepped fixed C. Variable D. Semi-variable
What are the product costs per unit associated with Product DCT121? A) $137 B) $140 C) $143 D) $88

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Rebel Co. manufactures a single product and has the following cost structure: Variable cost per unit Production Fixed Costs Production PS Selling and administrative 3 Selling and administrative During the year, 8,000 units were produced, and 7,800 units were sold. P32,000 16,000