Appliance Apps nas the following costs associated with production and sale of devices that allow appliances to receive commands from cell phones. Beginning inventory Units produced Units sold 25,000 20,000 145 Selling price per unit Variable sales and administration expenses Fixed sales and administration expenses Direct material cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 5 $975,000 25 $ 11 $ 3 $980,000 Prepare an income statement under both the absorption and variable costing methods along with a reconciliation between the two statements

Appliance Apps nas the following costs associated with production and sale of devices that allow appliances to receive commands from cell phones. Beginning inventory Units produced Units sold 25,000 20,000 145 Selling price per unit Variable sales and administration expenses Fixed sales and administration expenses Direct material cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 5 $975,000 25 $ 11 $ 3 $980,000 Prepare an income statement under both the absorption and variable costing methods along with a reconciliation between the two statements

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

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Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0Units Produced 24,000Units Sold 19,200Selling Price per Unit $146Variable Sales and Administration Expenses $4Fixed Sales and Administration Expenses $936,000Direct Material Cost per Unit $26Direct Labor Cost per Unit $10Variable Manufacturing Overhead Cost per Unit $2Fixed Manufacturing Overhead Cost per Month $938,400 -Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. -Prepare an income statement under the variable costing method. If an amount box does not require an entry, leave it blank. -Prepare a reconciliation between the two statements.
Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 24,000 Units Sold 19,200 Selling Price per Unit $145 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $936,000 Direct Material Cost per Unit $25 Direct Labor Cost per Unit $10 Variable Manufacturing Overhead Cost per Unit $3 Fixed Manufacturing Overhead Cost per Month $940,800 Question Content Area Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. Appliance AppsIncome Statement: Absorption $- Select - Cost of Goods Sold: $- Select - - Select - $- Select - - Select - Total Cost of Goods Sold fill in the blank c283fffd202c01d_11 $- Select - Sales and Administrative Expenses: Variable $fill in the blank…
Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $146 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $975,000 Direct Material Cost per Unit $26 Direct Labor Cost per Unit $11 Variable Manufacturing Overhead Cost per Unit $3 Fixed Manufacturing Overhead Cost per Month $977,500 Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $146 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $975,000…
Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $146 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $970,000 Direct Material Cost per Unit $25 Direct Labor Cost per Unit $11 Variable Manufacturing Overhead Cost per Unit $2 Fixed Manufacturing Overhead Cost per Month $977,500 Question Content Area Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. blankAppliance AppsIncome Statement: Absorption blank $Sales Cost of Goods Sold: $Beginning Inventory Cost of Goods Manufactured $Cost of Goods Available for Sale Ending Inventory Total Cost of Goods Sold fill in the blank 07321b055fbf02d_11 $Gross Profit Sales and…
eBook Print Item Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 24,000 Units Sold 19,200 Selling Price per Unit $146 Variable Sales and Administration Expenses $5 Fixed Sales and Administration Expenses $931,200 Direct Material Cost per Unit $25 Direct Labor Cost per Unit $11 Variable Manufacturing Overhead Cost per Unit $4 Fixed Manufacturing Overhead Cost per Month $940,800 Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank.
Value chain classifications Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Business Function Cost Item Answera. Research and development 1. Labor time to repair products under warrantyb. Design 2. TV commercial spotsc. Production 3. Labor costs of fi lling customer ordersd. Marketing 4. Testing of competitor’s producte. Distribution 5. Direct manufacturing labor costsf. Customer service 6. Development of order tracking system forthe Internet7. Printing cost of new product brochures8. Hours spent designing childproof bottles9. Training costs for representatives to staff the customer call center10. Installation of robotics equipment in manufacturing plant
Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 24,000 Units Sold 19,200 Selling Price per Unit $145 Variable Sales and Administration Expenses $5 Fixed Sales and Administration Expenses $931,200 Direct Material Cost per Unit $25 Direct Labor Cost per Unit $11 Variable Manufacturing Overhead Cost per Unit $2 Fixed Manufacturing Overhead Cost per Month $940,800 Prepare a reconciliation between the two statements. Reconciliation Net Income under Variable Costing 86400 Add: Fixed Manufacturing Overhead Deferred Net Income under Absorption
Please help with the question number 4,5, and 6. Thank you Gigabyte, Inc. manufactures three products for the computer industry: Gismos (product G): annual sales, 8,000 units Thingamajigs (product T): annual sales, 15,000 units Whatchamacallits (product W): annual sales, 4,000 units The company uses a traditional, volume-based product-costing system with manufacturing over-head applied on the basis of direct-labor dollars. The product costs have been computed as follows: Product G Product T Product W Raw material ..........................$ 35.00 $52.50 $17.50 Direct labor 16(.8 hr.at $20) 12(.6 hr at $20) 8(.4 hr at $20) Manufacturing overhead* ......140.00 105.00 70.00 Total product cost ..................$191.00 $169.50 $95.50 *Calculation of predetermined overhead rate: Manufacturing overhead budget: Machine…
The following are available in the general ledger account of Clothes Manufacturing Company: Raw Materials, beg. P100,000; Purchases – raw materials, P300,000; Raw Materials, end P50,000; Direct Labor P200,000; Manufacturing Overhead P150,000; Work in Process beg. P200,000; Work in Process end P100,000; Finished Goods beg. P50,000; and Finished Good end P100,000. How much is the total cost of goods placed in process? How much is the total cost of goods manufactures?
XYZ Ltd produce a mini-kitchen called Tiny Tots, which is enjoying extensive popularity amongst young children. The following data is available for the month of March 2018:Selling price (per unit) R 116 Units in opening inventory 600Units manufactured 2 550Units sold 3 050Variable costs per unit:Direct materials R12,00 Direct Labour R50,00Variable manufacturing overhead R6,50Variable selling and administrative R10,00Fixed costs:Fixed manufacturing overhead R81 000Fixed selling and administrative R14 000 The company produces the same number of units every month, although the sales in units vary from month to month. The company’s variable costs per unit and total fixed costs have been constant from month to month.Required:4.1. Prepare an income statement for the month using the variable costing method. (10)4.2. Prepare an income statement for the month using the absorption costing method. (10)
KPR manufactures deals in various products. Relevant details of the products are as under: AWAXAYAZ Estimated annual demand (units)5000100070008000 Sales price per unit (Rs.)150180154175 Material consumption: Q (Rs)2729.524.529.75 Labor hours (Rs)5056.2543.7562.5 Variable overheads (based on labor cost) 70%80%10%90% Fixed overheads per unit (Rs.)10201416 Machine hours required: Processing machine hours 56810 The capacity utilization is as under:Hours Processing machine 150,000 RequiredCompute the number of units of each product that the company should produce in order tomaximize the profit. (B) KPR manufactures is considering a special order for 20 handcrafted gold bracelets to be given as gifts to members of a wedding party. The normal selling price of a gold bracelet is Rs 184 and its unit product cost is Rs140.00 as shown below: Direct materials . . . . . . . . . . . . . . . . . . . . Rs 81.00Direct labor . . . . . . . . . . . . . . . . . . . . . . . 42.00Manufacturing…
Value chain classifications Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Business Function Cost Item Answera. Research and development 1. Purchase of raw materialsb. Design 2. Advertisingc. Production 3. Salary of research scientistsd. Marketing 4. Shipping expensese. Distribution 5. Reengineering of product assembly processf. Customer service 6. Replacement parts for warranty repairs7. Manufacturing supplies8. Sales commissions9. Purchase of CAD (computer-aideddesign) software10. Salary of website designer