Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrativeFixed costs:Fixed manufacturing overheadFixed selling and administrative$51$46$8$5$560,000$173,800What is the total period cost for the month under variable costing? 6pints00:28:56A manufacturing company that produces a single product has provided the followingdata concerning its most recent month of operations:Selling priceUnits in beginning inventoryUnits producedUnits soldUnits in ending inventoryVariable costs per unit:Direct materials$16010016,00015,800300$51

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Description: Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrativeFixed costs:Fixed manufacturing overheadFixed selling and administrative$51$46$8$5$560,000$173,800What is the total period cost for

Answer:- Variable costing method:- Variable costing is basically a costing method where the business…

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Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $51 $46 $8 $5 $560,000 $173,800 What is the total period cost for the month under variable costing?

Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $51 $46 $8 $5 $560,000 $173,800 What is the total period cost for the month under variable costing?

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter12: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 12.16E: Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that...

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Saved Help Save & Exit TB MC Qu. 6-49 (Algo) A manufacturing company that.. A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense 4,600 4,500 100 $ 53 $ 55 $ 18 $16 $96,600 $45,000 What is the variable costing unit product cost for the month? Multiple Choice $135 per unit 4 of 25 Next m < Prev
Problem: AAA Company produces and sells Product X: Annual Demand 24,000 units Annual cost to held one unit of inventory P11.52 Order Cost P38.40 Beg. Inventory P 0 a. What is the Economic Order Quantity? b. How much is the total Order Costs? c. How much is the total Carrying Costs?
1 Which of the following is the correct formula for calculating days' sales in raw materials Inventory for a manufacturer? Multiple Cholce 3 00:59:2o Raw materials used/Average raw materials inventory. Raw materials purchased/Average raw materials inventory. Raw materials used/Beginning raw materials inventory x 365. Average raw materials inventory/Raw materials used. Ending raw materials inventory/Raw materials used x 365.
Selling price Units in beginning inventory Units produced Units sold Units in ending inventory $ 126 0 2,630 2,500 130 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: Fixed manufacturing overhead Fixed selling and administrative expense The total gross margin for the month under absorption costing is: $ 49 $ 17 $ 8 $ 9 $ 84,160 $ 17,500
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Q14 Shade Company adopted a standard cost system several years ago. The standard costs for direct labor and direct materials for its single product are as follows: Materials (5 kilograms × $12 per kilogram) = $60 per unit; direct labor (3.5 hours per unit × $20 per hour) = $70 per unit. All materials are issued at the beginning of processing. The operating data shown below were taken from the records for December: In-process beginning inventory None In-process ending inventory—80% complete as to labor 1,020 units Units completed during the period 6,820 units Budgeted output 7,380 units Purchases of materials (in kilograms) 43,000 Total actual direct labor cost incurred $ 538,748 Direct labor hours worked (AQ) 27,100 hours Materials purchase-price variance $ 4,300 favorable Increase in materials inventory in December 3,050 kilograms The actual total cost of direct materials used in production during December was: Multiple Choice $478,481.…
2.1 Prepare the Income statement of Cambridge Manufacturers for the year ended 31 March 2021 using the absorption costing method. INFORMATION The following information was extracted from the accounting records of Cambridge Manufacturers for the year ended 31 March 2021: Inventory on 01 April 2020 1 000 units Production for the year 30 000 units Sales for the year (at R240 per unit) 25 000 units Costs: Direct materials cost per unit R60 Direct labour cost per unit R36 Variable manufacturing overheads cost per unit R24 Variable selling and administrative costs per unit sold R12 Fixed manufacturing overhead cost R696 000 Fixed selling and administrative cost R303 200 Additional information The total manufacturing costs per unit for the year ended 31 March 2020 amounted to R130, comprising R110 for variable manufacturing costs and R20 for fixed manufacturing costs. The total selling and administrative costs per unit for the same period amounted to R10. The first-in-first out method of…
QUESTION 4 The following information was extracted from the accounting records of ABC Manufacturers for the year ended September 2020: UNITS Inventory at the beginning of the year Production for the year Sales for the year (at R75 per unit) Nil 20 000 18 250 Direct Materials cost per unit Direct Labour cost per unit Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost Fixed selling and administrative cost The company utilises the first-in-first-out method of inventory valuation. 21 7 8 182 000 77 000 REQUIRED: 4.1 Prepare the Income Statement using the Marginal Costing method. 4.2 Prepare the Income Statement using the Absorption Costing method.
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Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.
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ParticularsAmountDirect materialR12Direct laborR50Variable manufacturing overheadR6.50Fixed manufacturing overhead (R81,000/2,550 units)R31.76Unit product cost for the month under absorption costingR100.26 Prepare an income statement for the month using the Marginal costing method