Current Attempt in Progress Swifty Corporation sells its product for $50 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $6, direct labor $5, and variable overhead $2. Fixed costs are: $720000 manufacturing overhead and $90000 selling and administrative expenses. The per unit manufacturing cost under variable costing is O $25. o $11. O $27. o $13.

Question
Current Attempt in Progress
Swifty Corporation sells its product for $50 per unit. During 2019, it produced 60000 units and
sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $6,
direct labor $5, and variable overhead $2. Fixed costs are: $720000 manufacturing overhead
and $90000 selling and administrative expenses. The per unit manufacturing cost under
variable costing is
O $25.
o $11.
O $27.
o $13.
Expand
Transcribed Image Text

Current Attempt in Progress Swifty Corporation sells its product for $50 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $6, direct labor $5, and variable overhead $2. Fixed costs are: $720000 manufacturing overhead and $90000 selling and administrative expenses. The per unit manufacturing cost under variable costing is O $25. o $11. O $27. o $13.

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Cost Accounting

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: My text book is  Hospitality Industry Financial Accounting (4th edition). I am in chapter 10 -- INVE...

A: Weighted average method helps in valuation of stock and decides the average cost of stock based on t...

Q: Listed below are five procedures followed by Gilmore Company.Indicate whether each procedure is an e...

A: Internal Control System: An internal control system is a process of assuring the organizational obje...

Q: Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales: ...

A: Cost of goods sold for 120 units is $1320 which is obtained by multiplying 120 units with the unit c...

Q: Stellar Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was...

A: Prepare a schedule to determine the total units available for sale and cost of goods available for s...

Q: Number 4 Smithson, Inc. produces two types of gas grills: a family model and a deluxe model. Smithso...

A: Hi, since there are multiple requirements in the posted question, we will answer first three questio...

Q: Sales last year during June were $20,000. Sales this June were $21,500. What percentage increase or ...

A: Compute difference in sales for current year and last year of June as shown below:

Q: On January 1st, 2018, Dr. Marcie Cousins established Health-Wise Medical, a medical practice organiz...

A: Net income:The net income is the profit generated in the business over particular period of time. Ne...

Q: In November 2018, Simon pays $6,200 to take a course to improve his job skills to qualify for a new ...

A: This falls under American opportunity credit and lifetime learning credit. Lifetime learning credit ...

Q: Arizona Corp. acquired the business Data Systems for $320,000 cash and assumed all liabilities at th...

A: a. Calculate the goodwill for Arizona Corporation.

Q: I am working on a journal entry and this is the question. I am not sure on what accounts I should us...

A: Journalize the entry for salaries that will be paid next month:

Q: My text book is  Hospitality Industry Financial Accounting (4th edition). I am in chapter 11 -- PROP...

A: 1. Calulate first year depreciation under straight line method.

Q: How would i fill out the two tables?

A: In decision analysis, fixed costs are considered sunk cost and hence they are ignored for decision m...

Q: How would I find the effect on the total cost

A: Calculate the effect on blowing sand total cost.

Q: Selected financial data for the Micco Community Health Clinic follows for a volume of 120,000 patien...

A: Variable costs: Variable costs are those costs which change in proportion to change in the productio...

Q: Break-Even Sales Currently, the unit selling price of a product is $390, the unit variable cost is $...

A: Break-even sales are the dollar measure of income at which a business procures a benefit of zero. Th...

Q: Calculation and Journal Entry for Employer Payroll Taxes 1.  Calculate the employer's payroll taxes ...

A: Click to see the answer

Q: Reporting Long-Term Debt on the Balance Sheet Scott Corp. provides contracted home staging services ...

A: Balance sheet:This financial statement reports a company’s resources (assets) and claims of creditor...

Q: Break-even sales and sales to realize operating income For the current year ended March 31, Cosgrove...

A: Hence, 20,300 units is the breakeven sales  which is calculated by dividing total fixed costs with t...

Q: Assume that a company has decided not to allocate any support department costs to producing departme...

A: Cost allocation means assigns cost to different heads or departments. It is a good tool that can be ...

Q: Altira Corporation provides the following information related to its merchandise inventory during th...

A: The system of inventory under which updates in inventory are  done on periodic basis is called as pe...

Q: R.D. Kagen employs Audrey Lopez at a salary of $33,800 a year. Kagen is subject to employer Social S...

A: Workings:

Q: At the end of the year, a company has the following accounts receivable and estimates of uncollectib...

A: Click to see the answer

Q: High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and t...

A: High-Low Method: The high-low method is that method by which the variable component and the fixed co...

Q: E7-7 (Statement of Revenues, Expenditures, and Changes in Fund Balance) Prepare a statement of reven...

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of ...

Q: Prepare a classified balance sheet? Presented below is the adjusted trial balance of De Young Cor...

A: Prepare statement of retained earnings: 

Q: Shadee Corp. expects to sell 640 sun visors in May and 350 in June. Each visor sells for $25. Shadee...

A: Flexible overhead budget: A flexible overhead budget is referred to a thorough plan for controlling ...

Q: Tamarisk Company had ending inventory at end-of-year cost of $116,900 at December 31, 2016; $143,640...

A: The dollar value of LIFO strategy collects total cost data for a lot of stock, with the goal that in...

Q: How to prepare statement of retained earnings               Adjusted Trial Balance     Decemb...

A: Calculate net income:  

Q: Support Department Cost Allocation—Reciprocal Services Method Brewster Toymakers Inc. produces toys ...

A: a. Calculate the percentage of janitorial cost that should be allocated to the security department.

Q: Journal entries for a-d

A: Notes Receivable are the assets which may or may not carry interest and are redeemable after a perio...

Q: The following information relates to a computer shop owner who makes all purchases on credit:       ...

A: Calculate the amount of total sales:

Q: Text Ch.2 #2 Which of the following statements describe tranasactions that would be recorded in an a...

A: Accounting Transaction: An economic event, which causes impact (increases or decreases the value of ...

Q: J & G Manufacturing makes a single product by way of three separate processes. Details ofproduct...

A: Calculate the normal loss in kg.

Q: 1-8  Identify the related form of business for the following 1) Johnson, Capital 2) Common Stock 3) ...

A: Forms of business organization: Sole proprietorship: The form of business entity which is owned and ...

Q: In the month of August, Beauty Salon services 560 clients at an average price of $120. During the mo...

A: Contribution Margin is the ability of the company to cover its variable cost. It is the balance  amo...

Q: How do you find the date goods are received, last day of discount, and end of credit period when the...

A: Compute the date of goods received:  The invoice is dated for November 27th. Hence, the goods are re...

Q: A consulting firm enters into a contract to help a small family owned business design a marketing st...

A: Click to see the answer

Q: The following is a list of account titles and amounts (in millions) reported at December 27, 2015, b...

A: Balance sheet refers to the statement of a company which shows the total value of liabilities & ...

Q: Problem 9-97BEntries for and Financial Statement Presentation of a Note Griddley Company borrowed $2...

A: Click to see the answer

Q: I have attached the Income Statement I will be referring to.  Please explain and clarify 1) What acc...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Margin of Safety The Rachel Company has sales of $500,000, and the break-even point in sales dollars...

A: Margin of safety: It is a measure that shows the probability of decrease in the sales level before a...

Q: What is the difference between operating income, net income and other comprehensive income? If a  co...

A: Operating income is computed after deducting all operating expenses like cost of goods sold, wages a...

Q: Briefly explain the following: Balance Sheet Income Statement Statement of Changes in Financial Posi...

A: Balance sheet: Balance sheet is a main part of financial statement. It shows as on date financial po...

Q: June 1   Purchased books on account for $2,580 (including freight) from Catlin Publishers, terms 2/1...

A: Prepare the journal entry from June 1 to June 17.

Q: What is a managerial accounting

A: Managerial accounting is like a tool to help management in effective planning and control over the c...

Q: Sophia & More Company sells clothing, shoes and accessories at a city location near you. Informa...

A: Income Statement as per Variable Costing

Q: The Dawson Company manufactures small lamps and desk lamps. The following shows the activities per p...

A: Calculate the activity rate.

Q: Kinsella Inc. has a gross payroll of $13,500 for the pay period. The entire payroll is subject to So...

A: Prepare journal entry to record wages and liabilites: 

Q: My text book is  Hospitality Industry Financial Accounting (4th edition). I am in chapter 11 -- PROP...

A: A capitalized cost is considered to be a part of fixed asset, instead of considering it as an expens...

Q: Sandel Company makes 2 products, footballs and baseballs. Additional information follows: Footballs ...

A: Contribution Margin per unit:Contribution Margin per unit is the selling price per unit minus the va...