ABC Company had Php200,000 income using absorption costing. ABC has no variable manufacturing costs. Beginning inventory was Php15,000 and ending inventory was Php22,000. Income under variable costing would have been
Q: [The following information applies to the questions displayed below.] Martinez Company's relevant…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: F Company, which uses the high-low method, reported total costs of $24 per unit at its lowest…
A: Variable Cost: The cost which is not fixed is called as variable cost. This cost is directly…
Q: Captain America Company has operating income of P50,000 using direct costing for a given period.…
A: Solution: Calculate Net Income under Absorption Costing: Particulars Amount Net Income under…
Q: NUBD Co. had income of P65,000 using absorption costing for the period. Beginning and ending…
A:
Q: NUBD Co. had income of P65,000 using absorption costing for the period. Beginning and ending…
A: Increase in inventory = 18,000 units - 12,000 units = 6,000 units If there is increase in inventory,…
Q: F Company, which uses the high-low method, reported total costs of $24 per unit at its lowest…
A: Variable cost per unit =6000010000=$6
Q: Bolman Inc has only variable costs and fixed costs. A review of the company's records disclosed that…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The cost per unit associated with the production of Xen Merchandising are the following: Direct…
A: Marginal cost refers to variable cost which has to be incurred to produce a additional unit of…
Q: Mallard Corporation uses the product cost concept of product pricing. Below is cost information for…
A: Desired profit can be calculated by multiplying the expected rate of return with the amount of…
Q: Gale Company's income under absorption costing was Php120,000 lower than its income under variable…
A: Variable production cost = $210 + $24 = 186 per unit VARIABLE PRODUCTION COST PER UNIT +…
Q: ABC Company had Php200,000 income using absorption costing. ABC has no variable manufacturing costs.…
A: Variable Costing: Variable costing is the method of costing in which only the variable production…
Q: Kubin Company’s relevant range of production is 22,000 to 27,000 units. When it produces and sells…
A: As per authoring guidelines, the first three sub-parts are answered. Please repost the question…
Q: Mallard Corporation uses the product cost concept of product pricing. Below is cost information for…
A: The desired profit is calculated as required rate of return on invested assets.
Q: Razor Ltd had net income of 918,000 based on variable costing. Beginning and ending inventories were…
A: Variable costs: These costs are incurred in conjunction to the volume of goods produced or sold. It…
Q: The Southern Corporation manufactures a single product and has the following cost structure:…
A: Variable costing is a method of cost accounting which excludes fixed manufacturing overhead from the…
Q: ridewater Company uses the product cost concept of applying the cost-plus approach to product…
A: Product cost concept The costs incurred in the manufacturing of a product are referred to as its…
Q: Company XYZ produced 1,000 units of product A. At this level, the variable manufacturing costs were…
A: Interpretation of the data: Units produced=1000 Units Variable Manufacturing Cost= OMR 120,000 Units…
Q: NUBD Co. had income of P65,000 using absorption costing for the period. Beginning and ending…
A: Increase in inventory = 18,000 - 12,000 = 6,000 units If there is an increase in inventory, variable…
Q: . has only variable costs and fixed costs. A review of the company's records disclosed that when…
A: Fixed costs are those costs which remains constant at any level of activity within a relevant range…
Q: Chance Inc. sold 2,600 units of its product at a price of $114 per unit. Total variable cost per…
A: Given the following information: Chance Inc. sold 2,600 units of its product at a price of $114 per…
Q: NUBD Co. had income of P65,000 using absorption costing for the period. Beginning and ending…
A: Income using variable costing = absorption costing income - (ending inventories - Beginning…
Q: The following data relate to Lobo Corporation for the year just ended: Sales revenue $750,000 Cost…
A: Contribution refers to earnings left after deducting all direct costs from the sales revenue. It is…
Q: Last year, Fabre Company produced 20,000 units and sold 18,000 units at a price of $12. Costs for…
A: Following are the calculation of ending inventory under variable coting:
Q: Lavender Company’s income under absorption costing was P 3,600 lower than its income under variable…
A: Variable production cost=Total variable cost-Variable selling cost=P 9 - P 1=P 8
Q: Dake Corporation's relevant range of activity is 2,200 units to 5,000 units. When it produces and…
A: SOLUTION- Indirect manufacturing costs are production costs that cannot be directly associated with…
Q: Bolman Inc has only variable costs and fixed costs. A review of the company's records disclosed that…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: A review of Olaf Corporation's accounting records found that at a volume of 90,000 units, the…
A: The question is based on the concept of Cost Accounting.
Q: Company XYZ made total sales revenue of $450,000. The variable manufacturing costs were $125,000…
A: Contribution Margin = Sales revenue - Variable Expenses Contribution Margin is difference between…
Q: [The following information applies to the questions displayed below.] Kubin Company's relevant range…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: The following costs have been estimated based on sales of 30,000 units: Total Annual Costs…
A: Particulars Percent That Is Variable Variable Cost Fixed Cost Direct materials 100% 300000 0…
Q: Company XYZ produced 1,000 units of product A. At this level, the variable manufacturing costs were…
A: Manufacturing costs is related to all the costs where the process is to be related to the product…
Q: What is the conversion cost per unit? $280 $180 $100 $380
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Prepare an income statement for Jomar Box Company under the following methods: a.Absorption Costing…
A: The major difference between marginal costing and absorption costing is treatment for closing stock.…
Q: Spock Company incurs the following costs to produce and sell a single product. Variable costs per…
A: The variable Costing is a Management Accounting concept, where the overhead classification is made…
Q: Kubin Company’s relevant range of production is 23,000 to 27,500 units. When it produces and sells…
A: Solution:-1 Calculation of variable cost per unit If 23,000 units are produced and sold as follows…
Q: Gigondas Incorporated had the following information: Avtivity Driver Unit Variable Cost Level of…
A: Formula: Unit Contribution margin = Selling price per unit - Variable cost per unit
Q: The Mavis Company uses an absorption-costing system based on standard costs. Total variable…
A: Gross margin = Revenue - Cost of goods sold Operating Income = Gross margin - Total operating costs…
Q: Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: The variable cost changes with the change in output. But per unit Cost will remain the same.…
Q: Connor Company's fixed costs are $400,000, the unit selling price is $25, and the unit variable…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: The Southern Corporation manufactures a single product and has the following cost structure:…
A: Ending inventory = Units produced - units sold = 6230 units - 6030 units = 200 units
Q: Kluber, Inc. had net income of $918,000 based on variable costing. Beginning and ending inventories…
A: Absorption costing is a method of costing where it accounts for all cost in manufacturing. Net…
Q: Pedregon Corporation has provided the following information: Cost per Period Cost per Unit $ 6.55 $…
A: The contribution margin is calculated as difference between sales and variable cost.
Q: In the previous year, a company’s total fixed manufacturing overhead costs were P13,600 and its…
A: Lower in operating income using variable costing versus absorption costing = Increase in ending…
Q: Under absorption costing, a company had the following per unit costs when 5,000 units were produced.…
A: Product cost includes all the costs undertaken on the product till the time it gets ready for sale.…
Q: A company had income of P50,000 using variable costing for a given period. Beginning and ending…
A: Solution: Income using variable costing = P50,000 Fixed overhead per unit = P2 per unit Beginning…
Q: Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and…
A: Variable costs :- are costs that change with each level of output while fixed costs do not change…
Q: Company XYZ made total contribution margin of $200,000 and a net income of $150,000. The company…
A: Contribution = Fixed cost + Net profit
Q: Morwenna, Inc. reports the following information for August: Sales Revenue $700,000…
A: The operating income is determined by subtracting all regularly occurring expenses required for…
P178,000
P193,000
P200,000
P207,000
Answer not given
Step by step
Solved in 2 steps
- Submarine Company produces only one product and sells that product for $150 per unit. Cost information for the product is as follows: Selling expenses are $2 per unit and are all variable. Administrative expenses of $15,000 are all fixed, Submarine produced 2.000 units and sold 1.800. Grainger had no beginning inventory. A. Compute net income under absorption costing variable costing B. Reconcile the difference between the income under absorption and variable costing.Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for 60 each. The actual variable unit cost is as follows: Fixed overhead was 320,000. Fixed selling expenses consisted of advertising copayments totaling 110,000. Fixed administrative expenses were 236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was Refer to the information in 2.24. The gross margin percentage for last year was a. 12.57% b. 55.67% c. 28.95% d. 38.33%Last year, Orsen Company produced 25,000 juicers and sold 26,500 juicers for 60 each. The actual variable unit cost is as follows: Fixed overhead was 320,000. Fixed selling expenses consisted of advertising copayments totaling 110,000. Fixed administrative expenses were 236,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was 148,000 for 4,000 juicers. The value of ending inventory reported on the financial statements was a. 55,500 b. 92,500 c. 66,500 d. 39,900
- Bethany Company has just completed the first month of producing a new product but has not yet shipped any of this product. The product incurred variable manufacturing costs of 5,000,000, fixed manufacturing costs of 2,000,000, variable marketing costs of 1,000,000, and fixed marketing costs of 3,000,000. Under the variable costing concept, the inventory value of the new product would be: a. 5,000,000. b. 6,000,000. c. 8,000,000. d. 11,000,000.Baxter Company has a relevant range of production between 15,000 and 30,000 units. The following cost data represents average variable costs per unit for 25,000 units of production. Using the costs data from Rose Company, answer the following questions: A. If 15,000 units are produced, what is the variable cost per unit? B. If 28,000 units are produced, what is the variable cost per unit? C. If 21,000 units are produced, what are the total variable costs? D. If 29,000 units are produced, what are the total variable costs? E. If 17,000 units are produced, what are the total manufacturing overhead costs incurred? F. If 23,000 units are produced, what are the total manufacturing overhead costs incurred? G. If 30,000 units are produced, what are the per unit manufacturing overhead costs incurred? H. If 15,000 units are produced, what are the per unit manufacturing overhead costs incurred?Garrett Company provided the following information: Common fixed cost totaled 46,000. Garrett allocates common fixed cost to Product 1 and Product 2 on the basis of sales. If Product 2 is dropped, which of the following is true? a. Sales will increase by 300,000. b. Overall operating income will increase by 2,600. c. Overall operating income will decrease by 25,000. d. Overall operating income will not change. e. Common fixed cost will decrease by 27,600.
- Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?Cool Pool has these costs associated with production of 20,000 units of accessory products: direct materials, $70; direct labor, $110; variable manufacturing overhead, $45; total fixed manufacturing overhead, $800,000. What is the cost per unit under both the variable and absorption methods?The following information pertains to Vladamir, Inc., for last year: There are no work-in-process inventories. Normal activity is 100,000 units. Expected and actual overhead costs are the same. Costs have not changed from one year to the next. Required: 1. How many units are in ending inventory? 2. Without preparing an income statement, indicate what the difference will be between variable-costing income and absorption-costing income. 3. Assume the selling price per unit is 29. Prepare an income statement using (a) variable costing and (b) absorption costing.
- The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?Total costs for ABC Distributing are $250,000 when the activity level is 10,000 units. If variable costs are $5 per unit, what are their fixed costs? $240,000 $200,000 $260,000 Their fixed costs cannot be determined from the information presented.The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?