Please do not give solution in image format thanku 1 Sales2 Variable cost of goods sold:34591011Variable cost of goods manufacturedLess ending inventoryVariable cost of goods sold6 Manufacturing margin7 Variable selling and administrative expenses8Contribution marginVariable Costing Income StatementFor the Year Ended December 31, 2016Frankenreiter Inc.Fixed costs:Fixed manufacturing costsFixed selling and administrative expenses12 Income from operations$6,720,000.00336,000.00$1,400,000.00890,000.00$11,704,000.006,384,000.00$5,320,000.001,155,000.00$4,165,000.002,290,000.00$1,875,000.00Determine the unit cost of goodsmanufactured, based on (a) the variablecosting concept and (b) the absorptioncosting concept.Variable costingAbsorption costing

Under variable costing concept, variable manufacturing cost is considered.Under absorption costing…

Answered: Determine the unit cost of goods…

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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A company produces and sells the following quantites of a product: Date Number of tons Total CostsJuly 1 Opening Inventory 10 P200 4 Production 8 176 6 Sale 9 15 Production 6 144 18 Sale 11 23 Production 4 104 Question:Which statement is true? A. Cost of goods sold using FIFO is higher than cost of goods sold using weighted average. B. Profit using FIFO is higher than profit using weighted average. C. Total assets at July 31 is higher using weighted average than total assets using FIFO. D. Profit is not affected by the costing method used to measure inventory.
The following information is available for Concord Company: Sales Total fixed expenses Cost of goods sold Total variable expenses $301000 $51600 103200 86000 What amount would you find on Concord's CVP income statement? General 41:18 O gross profit of $197800 • contribution margin of $163400 O contribution margin of $215000 O gross profit of $163400
From these results of operations, determine the cost of goods manufactured of XY Co.Finished goods -beg P72,000 Sales P465,000Finished goods - end P66,000 Gross margin P88,000 a. P371,000b. P377,000c. P383,000d. P459,000
Given the following information regarding to a recent period's operations: Sales - P? Beginning finished goods inventory - P12,000 Cost of goods manufactured - P36,000 Ending finished goods inventory - P6,000 Cost of goods sold - P? Gross margin - 40% of Sales Administrative and selling expenses_P10,000 Net operating income - P? Determine the following: • cost of goods sold • cost of goods available for sale • net operating income • gross margin • sales
Prepare the Income Statement for the year ended 31 December 2022 using the Marginal costing and Absorption costing methods. Opening inventory Nil Number of units manufactured 5 000 Number of units sold 4 500 Selling price per unit R200 Direct material cost per unit R14 Direct labour cost per unit R23 Variable manufacturing overheads cost per unit R12 Variable selling and administrative cost per unit sold R3 Fixed manufacturing overhead cost R200 000 Fixed selling and administrative costs R400 000
Related data Scott Summers Company: Sales P4,150,200 Cost of goods manufactured 3,153,500 Ending finished goods inventory 189,700 Administrative and selling expenses 387,600 Income from operation 675,200 How much is the beginning finished goods inventory?
Extreme Company shows the following information:Units Unit cost Total costJanuary 1 Beginning 10,000 40 400,00031 Sale 5,000April 1 Purchase 15,000 50 750,000July 31 Sale 18,000October 1 Purchase 25,000 60 1,500,000December 31 Sale 12,000Required:Compute the cost of the ending inventory and cost of sales using:1. FIFO – periodic2. Weighted average3. Moving average
A manufacturer has the following per-unit costs and values for its sole product: Cost $10.00 5.50 Current replacement cost Net realizable value 6.00 Net realizable value less normal profit 5.20 margin Under the first-in first-out (FIFO) cost method, what is the per-unit carrying value of inventory in the manufacturer's statement of financial position? O 55.20 $5.50 $6.00 $10.00
Saxon, Inc. Absorption Costing Income Statement For the Year Ended December 31 1 Sales $1,125,000.00 2 Cost of goods sold: 3 Beginning inventory $0.00 4 Cost of goods manufactured 840,000.00 5 Ending inventory (210,000.00) 6 Total cost of goods sold 630,000.00 7 Gross profit $495,000.00 8 Selling and administrative expenses 275,000.00 9 Income from operations $220,000.00 Saxon, Inc. Variable Costing Income Statement For the Year Ended December 31 1 Sales $1,125,000.00 2 Variable cost of goods sold: 3 Beginning inventory $0.00 4 Variable cost of goods manufactured 600,000.00 5 Ending inventory (150,000.00) 6 Total variable cost of goods sold 450,000.00 7 Manufacturing margin $675,000.00 8 Variable selling and administrative expenses 210,000.00…
Calculate the Lower-of-Cost-or-Market using the table below for Samson Goods, Inc. springs inventory. (1)    Complete the table. Part # Cost Replacement Cost Net Realizable Value Normal Profit NRV less Normal Profit LCM SP17G $181,000 $ 152,000 $151,000 $15,000 SP23X 254,000 249,800 262,500 25,800 SP78A 205,400 214,000 206,000 10,200 Total (2) Prepare the journal entry to record the Allowance to Reduce Inventory to Market using the "Loss Method".          $                                     $                           (Record the adjustment to inventory due to decline in value)
1.The following data are given by Domestic Mfg. Corp.:                                                                         Increase in Finished Goods Inventory      12,000.00               Decrease in Raw materials Inventory      10,000.00               Increase in Work in Process Inventory    5,000.00               Purchase Returns and Allowances           6,000.00               Freight In 7,000.00               Labor Cost 65,000.00               Factory Overhead                                      25,000.00               Cost of Goods Sold                                       153,000.00                                                                         How much must be raw materials purchases?                                                                                                         2. The ff. information is provided by Maunlad Mfg. Corp.:               Cost of…
The related data of Rolene Company:                                          Net income                                                 P358,750           Operating expenses                                 250,000             Sales                                                              1,875,200          Finished goods, ending                           200,500             Finished goods, beginning                     178,900                                                                                     How much is the cost of goods manufactured?

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Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing