Number of units produced   2,900 Number of units sold   1,700 Unit sales price $ 790.00 Direct materials per unit   75.00 Direct labor per unit   105.00 Variable manufacturing overhead per unit   55.00 Fixed manufacturing overhead per unit ($346,550 ÷ 2,900 units)   119.50 Total variable selling expenses ($12 per unit sold)   20,400.00 Total fixed general and administrative expenses   90,000.00   How would i complete a full absorption income statement and a contribution margin statement

Q: Variable Costs Fixed Costs per Month Direct material $8.00/unit Supervisory salaries $21,420 Direct…

A: The flexible budget is prepared on the basis of actual production units produced.

Q: A company produced 500 units of a product and incurred the following costs. Direct materials,…

A: Solution Formulas used Contribution margin       = sales – variable cost Contribution margin rate…

Q: ABC Company's usual production is 10,000 units. The company's relevant range of production is 7,500…

A: Variable cost per unit remains the same at all levels of activities i.e. it doesn't change with an…

Q: Gloc Company produces and sells delicacies. Direct materials regarding production amounted to 240…

A: Inventoriable cost is also known as product cost. Under absorption costing product cost includes…

Q: Bato bato Corporation produced 20,000 units of product "Go". Costs incurred by Bato Corporation were…

A: Formula: Product unit cost under absorption costing = ( Direct materials + Direct labor + Variable…

Q: Sales @ P74/unit P636,400 Variable costs per unit: Fixed costs: Direct materials P12 Factory…

A: Solution 1: Units sold = Sales / sales price = 636400 / 74 = 8600 units  Period cost for the month…

Q: ABC, process costing. Sander Company produces mathematical and nancial calculators and operates at…

A: Compute the overhead cost per unit for mathematical calculators.

Q: ce Corporation has the following information in its first year of operations in 201A: Units produced…

A: Costing is any system for assigning costs to an element of a business. Costing is typically used to…

Q: Average Cost per Unit Direct materials $6.70 Direct labor 3.25 Variable manufacturing overhead 1.60…

A: If 4,000 units are produced, the total amount of manufacturing overhead costs is closest to:…

Q: Given the following information, determine the markup per unit. Direct materials $76,000 Direct…

A: Markup per unit should cover both the desired profits and indirect costs incurred.

Q: Sales (45,000 units at $10 per unit).. Less cost of goods sold: $450,000 Direct materials Direct…

A: The build-up of costs and the break-up costs showed in a statement called a cost sheet, it is a…

Q: Ron Williams Manufacturing began operations this year. The company can make up to 30,000 un.…

A: The income statement helps to find net income or losses incurred during the period.

Q: Shore Company reports the following information regarding its production cost. 29,000 units %24…

A: Fixed Overhead per unit = Total Fixed overhead / Units produced Product Cost under absorption…

Q: Variable costs per unit: Manufacturing: Direct materials Direct labor $ 29 $ 21 Variable…

A: Honor code- Since you have posted a question with multiple sub-parts, we will solve only the subpart…

Q: Summarized data for Walrus Co. for its first year of operations are: Sales (110,000 units)…

A: Variable Costing - In this costing method, variable costs are considered while preparing the cost of…

Q: Whitman Company has just completed its first year of operations. The company’s absorption costing…

A: 1. Income Statement under variable costing

Q: Arca Company reports the following for its product for its first year of operations. Direct…

A: Gross profit is the amount which is computed by reducing the cost of goods from the total revenue.…

Q: riable costs per unit: Manufacturing: Direct materials Direct labor 12 Variable manufacturing…

A: Answer: Contribution margin per unit= $46- (20+12+7+3)= $4 per unit 2-b- Variable costing income…

Q: Arca Company reports the following for its product for its first year of operations. Direct…

A: Given that, Selling price per unit = $390  Units produced = 2,580 units  Units sold = 2,180 units…

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: Summarized data for Walrus Co. for its first year of operations are: Sales (100,000 units)…

A: The income statement is prepared to find the net profits or losses earned by the business.

Q: Sales @ P74/unit P636,400 Variable costs per unit: Fixed costs: Direct materials P12 Factory…

A: Solution: Sales 636400 / Sales price 74 Units sold 8600

Q: A business operated at 100% of capacity during its first month, with the following results: $655,400…

A: Income statement: The income statement determines the net income of the business by subtracting the…

Q: Meginnis orporati elevant ange f ctivity s ,000 nits o ,000 nits. hen t roduces and sells 5,000…

A: Direct cost are cost that directly charge to production. Direct cost include Direct materials and…

Q: Sales (@ $25 per unit). $1,000,000 $1,250,000 Cost of goods sold (@ $18 per unit). 720,000 900,000…

A: Variable Costing:- This is a process of costing which excludes fixed manufacturing expenses from the…

Q: Sales P1,000,000 Direct Materials P 30 Direct Labor 500,000 variable Factory Overhead 300,000…

A: The income statement is prepared to find the net income or loss incurred during the period.

Q: Use the following information for Short Exercises S21-2 and S21-3. Martin Company had the folowing…

A: 1. Fixed manufacturing overhead per unit = Fixed manufacturing overhead  / Units produced =…

Q: The following costs were incurred in May:     Direct materials $ 43,100​   Direct labor $ 24,800​…

A: As the questions asked have more than 1 question, the first question is answered. If you want the…

Q: Consider the following information for Presidio Inc.'s most recent year of operations. Number of…

A: Under Full Absorption Income Statement , Gross Profit = Sales - Cost of goods sold Net Operating…

Q: Waltman Co. produces 5,000 units of part A12E. The following costs were incurred for that level of…

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

Q: What is the product unit cost under Absorption costing? 2.70 270,000 3.00 2.20 None of the above

A: Absorption Costing :— it is an marginal accounting method which considered all Costs related to…

Q: White Company manufactures a single product and nas Selling price P 420 Variable costs per unit:…

A: Under absorption costing, the unit product cost includes the variable as well as fixed cost.

Q: Product Data   Model A Model B Units produced per year 10,000 100,000 Prime costs $153,000…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: A business operated at 100% of capacity during its first month, with the following results: Sales…

A: The contribution margin is calculated by subtracting all variable expenses from revenue in a…

Q: Number of units produced   3,000 Number of units sold   2,500 Unit sales price $ 350 Direct…

A: Absorption Costing:  Absorption costing is compulsory under Generally Accepted Accounting Principles…

Q: $ Sales price per unit 51.00 Fixed costs (per month): Selling, general, and administrative (SG&A)…

A: Prime cost includes all the direct expenses such as direct material, direct labor, and other direct…

Q: A business operated at 100% of capacity during its first month, with the following results: Sales…

A: Formula: Contribution margin = sales - variable cost.

Q: Sales (17,500 units)   $1,750,000   Production costs (23,000 units):     Direct materials…

A: Under the Absorption  Costing method, there is no difference between variable cost and fixed cost.…

Q: Contribution Margin Incone Statenent Sales (420, 000 units) Variable costs Direct materials Direct…

A: The question is based on the concept of Cost Accounting.

Q: Sales (@ $25 per unit).... Cost of goods sold (@ $18 per unit). Gross margin..... $1,000,000…

A: Variable costing: Variable costing is the costing method in which only variable expenses are…

Q: Trini Company set the following standard costs per unit for its single product Direct materials (30…

A: Cost Variance: It is  the difference between  actual cost  incurred and the budgeted or planned…

Q: Sales (10,500 units) $1,470,000 Production costs (14,000 units): Direct materials $725,200 Direct…

A: Only Difference between Absorption and Variable costing is Treatment of Fixed Factory Overhead. In…

Q: Sales volume per annum Unit selling price Production cost per unit: Direct materials Direct labor…

A: Explanation of Concept:-  Cost : - is the expenses which have been incurred for production,…

Q: A business operated at 100% of capacity during its first month, with the following results: Sales…

A: Introduction: The profit a firm produces after deducting the costs of producing and marketing its…

Q: Use the following information for Exercises E21-14 and E21-15. Concord, Inc. has collected the…

A: Cost of Goods sold = Direct materials + direct labor + variable manufacturing overhead +  total…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.