Assumes Tiger Company had 60 units in beginning Finished Goods Inventory and sold 1,200 units. Additional data includes:   Units produced 1,300 units Direct materials     $13 per unit Direct labor 9 per unit Variable manufacturing overhead 3 per unit Fixed manufacturing overhead 8 per unit   Using variable costing, what is the dollar amount of ending Finished Goods Inventory?     ANSWER       $3,750   $4,000   $1,050   $5,280   I DON'T KNOW YET

Q: A certain company is selling a specific product with a selling price of P105.00. Data regarding…

A: In Variable Costing the fixed costs are not considered a part of the total cost, but in Absorption…

Q: Easton Pump Company's planned production for the year just ended was 19,300 units. This production…

A: Solution 1: Unit product cost under variable costing = (Direct mateials + Direct labor + Variable…

Q: The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units…

A: Cost of goods sold = (Manufacturing costs / no. of units manufactured)x no. of units sold =…

Q: Pandora Pillow Company's planned production for the year just ended was 21,700 units. This…

A: The net income is calculated as difference between sales and total expenses.

Q: Iagan, Inc. has collected the following data. (There are no beginning inventories.)   Units…

A: Ending balance in finished goods inventory = Ending units * Unit product cost under variable costing…

Q: The following information pertains to Mayberry Corporation:   ​ Beginning inventory 1,000 units…

A: Particulars Amount Fixed overhead on Ending inventory (6,000 units x $30 per unit) $180,000…

Q: Jax Incorporated reports the following data for its only product. The company had no beginning…

A:

Q: The Finishing Department of Lon and Lonny, Inc. the last department in the manufacturing process,…

A: Given,   Cost of total inventory in the month of June= $ 200,000 June 1 WIP Inventory = $0 June 30…

Q: Easton Pump Company's planned production for the year just ended was 19,100 units. This production…

A: ●1. Answer: Production cost per unit under variable costing method= (Direct material+ Direct labor+…

Q: 1. Delight Corporation, which has only one product, has provided the following data concerning its…

A: Fixed manufacturing overhead per unit = Total Fixed manufacturing overhead  / no. of units produced…

Q: Units sold 2,000 Units produced  2,200 Fixed manufacturing overhead  44,000 Variable manufacturing…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The following data relates to Mandarin Company. Units in beginning inventory — Units produced…

A: Formula: Ending inventory = Units produced - units sold Deduction of units sold from units produced…

Q: Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1:…

A: Inventory valuation is the monetary amount associated with the goods in the inventory at the end of…

Q: Hall Cosmetics Corporation company has the following costs associated with its production and sales.…

A: Absorption costing is used to ascertain the cost per unit. In absorption costing, only production…

Q: Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells…

A: Absorption costing: Under this costing, it is assumed that fixed costs and variable costs both are…

Q: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the…

A: Units in beginning inventory            2,000  Add: Units were started            9,000  Less:…

Q: The following information pertains to Stark Corporation: Beginning inventory 0 units Ending…

A: The correct option is option c.

Q: House Max Builders constructs modular homes, and lastyear their cost of goods sold was $18,500,000.…

A: The inventory turnover is calculated by dividing the cost of goods sold by the average inventory.

Q: Pederson Company reported the following: Manufacturing costs $2,000,000 Units manufactured 50,000…

A: This question deals with calculation of gross margin for the company. Gross margin means a margin…

Q: Donovan Company incurred the following costs while producing 500 units: direct materials, $10 per…

A: In variable costing, only the variable cost is taken into consideration while computing the value of…

Q: Answer the following questions using the information below: Pederson Company reported the following:…

A: The average manufacturing cost per unit is the cost of one unit to manufacture the finished product.…

Q: Sam Darnold Company produces a single product called INT6, this company has provided the following…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Q: b) The following information pertains to Chacon Inc. for last year: Beginning inventory in units…

A: Note: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a…

A: The fixed manufacturing overhead costs are included in the computation of unit product costs under…

Q: Advanced Company reports the following information for the current year. All beginning inventory…

A: Unit product cost = $20 + $22 +$3 Unit product cost = $45   Variable Cost of goods sold = 21,600*$45…

Q: Question 1 During the most recent year, Jerai Company had the following data associated with the…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Crazy Horse Corp. produces handcrafted coup sticks. The Sticks are sold $833. Selected data for the…

A: * As per Bartleby policy, if the question contains multiple sub parts then answer first three only.…

Q: Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells…

A: Product costs   are the direct costs associated in connection with production of a product.  Direct…

Q: Labada Corporation produces a single product. Variable manufacturing cost is P20 per unit and fixed…

A: Solution...   Variable manufacturing costs = P20 per unit  Fixed manufacturing overhead costs  =…

Q: Pandora Pillow Company’s planned production for the year just ended was 10,000 units. This…

A: Costing: It can be defined as the system through which the costs incurred by the business in the…

Q: Belle Company reports the following information for the current year. All beginning inventory…

A: Units of Finished Goods Inventory = Units Produced - Units Sold Cost of Finished Goods Inventory =…

Q: Mara uses a weighted-average process costing. It had the following data in August. Beginning…

A:

Q: Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it…

A: Fixed manufacturing overhead cost per unit = Total Fixed manufacturing overhead cost  / Units…

Q: A manufacturer reports the following information below for its first three years in operation. Year…

A: Cost accounting is one of the important branches of accounting. Under this, all types of costs…

Q: Units in beginning inventory Units produced 18,000 Units sold 15,000 Units in ending inventory…

A: Variable Costing Unit Product Cost = Direct Materials cost per unit + Direct Labor cost per unit +…

Q: During its first year of operation Salon Manufacturing Company sold 1,000 units of inventory. Salon…

A: Fixed manufacturing overhead costs per unit = Fixed manufacturing overhead costs / Total no. of…

Q: The following information pertains to Alleigh's Mannequins: Manufacturing costs $1,500,000 Units…

A: The gross margin is calculated as difference between sales revenue and cost of goods sold.

Q: Kern Corporation produces a single product. Selected information concerning the operations of the…

A: Ending finished goods inventory = Units produced - Units sold = 10,000 units - 9,000 units = 1,000…

Q: Fruit Tea's data show the following information: Aug. Sept. Oct. Nov. Dec. 25,000 25,000 27,000…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods…

A: Unadjusted cost of goods sold = Beginning finished goods inventory + Cost of goods manufactured -…

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A: Variable costing is the method under management accounting which allocates cost as per variable and…

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A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS  Requirement: 1  Chuck wagon  Unit Product cost using…

Q: 4. Ignacio Company, which has only one product, has provided the following data concerning its most…

A: “Since you have asked multiple sub-parts, we will solve the first three sub-parts for you. If you…

Q: The following data relates to Alpha Company. Units in beginning inventory — Units produced 25,000…

A: Under variable costing, ending inventory is valued at variable costs and fixed cost is considered as…

Q: Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it…

A: Solution 1: Computation of Unit Product Cost - Variable Costing Particulars Per unit Unit…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.