Shalom Company was established at the beginning of May to produce Peace products and sell them for P150 per unit. At the end of the month, the following data were made available. UNITS Produced Sold COSTS Direct materials Direct labor Manufacturing overhead Manufacturing overhead ABSORPTION COSTING 7,700 7,500 Selling and administrative Selling and administrative Provide answers to the following items: Amounts must be in whole numbers. Example: 88,000 or (88,000) Unit costs be in whole numbers. Example: 88 VARIABLE COSTING 3 146,300 10 60,000 (1) What is the cost per unit? (2) What is the gross profit margin? (3) What is the net income? 40 34 Format of percentages: 88% Format of units: 88,000 UNITS (in whole numbers, one space after the number of units) Words must be in capital letters. ANALYSIS & PRESENTATION (4) What is the cost per unit? (5) What is the contribution margin? (6) What is the net income? per unit per unit per unit per month per unit per month (7) What amount shall be reflected as cost of Shalom Company's ending inventory? (8) What shall be the amount Shalom Company's sales to reach break-even?
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
need solution,anwer is given
![[96]
[405,000]
[270,000]
:[77]
= [472,500]
[266,200]
[19,200]
[491,190]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fec653c38-d97f-4701-80f8-bd190a9b53c8%2Fd23077dd-3b5c-4726-a5ce-ff24cfa2ce5f%2Fazpoif1_processed.png&w=3840&q=75)
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