P 1,120,000 Variable manufacturing overhead costs                       160,000 Depreciation of factory building and equipment        120,000 Factory supervisor’s salary (P16,000 per month)          192,000 Other fixed factory overhead                                           80,000  What amount should be considered product cost for external reporting purposes for the year 2020?

Q: In planning its operations for 2021 based on a sales forecast of P6,000,000 and breakeven point in…

A: Break-even analysis is the easiest form of cost-volume-profit analysis. Break-even analysis is used…

Q: Of the 12,000 units produced by Hirofumi Company during April 2022, 10,000 units were sold at P50…

A: Working:  Total variable costs = Materials + Direct labor + Variable factory overhead = P80,000 +…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Solution 1:   For external reporting purposes, the amount of inventoriable costs must be = Prime…

Q: Bairstow Company manufactures and sells a single product. The following costs were incurred during…

A: The income statement is one of the financial statements of the business which tells about the…

Q: Determine the effect in income when the special order is accepted.  Indicate whether increase or…

A: Net Income Format :-   Sales (-) Variable manufacturing costs (-) Fixed manufacturing cost (-)…

Q: In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing as follows:…

A:

Q: Angel Company expects to sell 500,000 units in 2021 at P50 per unit. Variable manufacturing costs in…

A: Formula: Net profit = Total revenues - Total expenses.

Q: Yamato Company’s 2019 fixed manufacturing overhead costs totaled Php120,000 and variable selling…

A: Under the variable costing method, product costs are those costs which are variable and related to…

Q: Conan Company produces sporting equipment. In 2019, the first year of operations, Conan produced…

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

Q: Of the 12,000 units produced by Hirofumi Company during April 2022, 10,000 units were sold at P50…

A: Working:  Total variable costs = Materials + Direct labor + Variable factory overhead = P80,000 +…

Q: Hudson Co. reports the contribution margin income statement for 2019 below. Contribution Margin…

A: The contribution margin can be stated on a gross or per-unit basis. It represents the incremental…

Q: Angel Company expects to sell 500,000 units in 2021 at P50 per unit. Variable manufacturing costs in…

A: Formula: Net income = Revenues - Expenses

Q: Under the absorption costing, the total product costs should be:

A: The calculation of total product costs under the absorption costing is shown hereunder : Absorption…

Q: Annabelle Co. sold 7,000 units at P 50 per unit in 2020. The inventories at the beginning and end of…

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

Q: Leo Corporation has the following data for 2021: Per unit variable: Direct material P50 Direct labor…

A: Answer: Concept: =Sales- Variable cost- Fixed cost= Net income

Q: For the year 2020, the following cost data are available for Bernie Company: Direct Materials…

A: Absorption costing  is the method that includes all direct costs associated with production of a…

Q: The following manufacturing costs were incurred by the Miracle Mile Company in 2019:…

A: Direct materials ($225,000 / 50,000) x40,000 x 112% $ 201,600 Direct labor ($350,000 / 50,000) x…

Q: Manama Company produces and sells a mantel clock for $100 per unit. In 2020, 42,125 clocks were…

A: Under variable costing, the cost of inventory per unit is computed by adding the per unit cost of…

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Inventoriable costs for external reporting means all direct and indirect costs related with the…

Q: Angel Company expects to sell 500,000 units in 2021 at P50 per unit. Variable manufacturing costs in…

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

Q: In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing as follows:…

A: The cost per unit is calculated as total cost divided by number of equivalent units.

Q: Steel Metals Ltd manufactures and sells iron rods that is used in the construction of roads. The…

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

Q: Cullumber Industries carries no inventories. Its product is manufactured only when a customer’s…

A: The contribution margin can be stated on a gross or per-unit basis. It represents the incremental…

Q: In July 2020, ABC Co. computed its equivalent unit costs under FIFO process costing as follows:…

A: The total cost is calculated as equivalent units multiplied by cost per equivalent unit.

Q: For the year 2020, the following cost data pertain to the Leatherex Company's manufacturing…

A: Please find the answers to the above questions below:

Q: During 2019, Basler Manufacturing produced 60,000 units and sold 55,000 for $10 per unit. Variable…

A: The product cost per unit has been calculated by adding the variable and fixed manufactring cost per…

Q: Isabella Company has developed the following standard costs for its product for 2019:   ISABELLA…

A: given that, Actual variable overhead incurred was $155,000 actual fixed overhead incurred was…

Q: Capiz Company's 2020 manufacturing costs were as follows: Direct materials P70,000; Direct labor…

A: Answer: P120,000

Q: Warmuplang Corporation showed the following costs for 2020     Warehouse depreciation…

A: Difference in net income under absorption and variable costing  Increase in inventory (units)  x…

Q: Warmuplang Corporation showed the following costs for 2020 Warehouse depreciation P 300,000 Salaries…

A:

Q: XYZ Inc. Presented the following data for the first quarter of 2021: Prime Costs P560,000 Factory…

A: Any costs incurred by a corporation that are not immediately related to the manufacturing process…

Q: Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin…

A: Given that, Sales = $2912000 Variable cost = $2184000 Fixed cost = $567000   Required sales =…

Q: Black Widow Company had the following costs for 2020:   Raw materials P700,000 Direct labor…

A: The question is multiple choice question  Required  Choose the Correct Option

Q: Pharoah Industries carries no inventories. Its product is manufactured only when a customer's order…

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

Q: Raker Inc., manufactures product A. For the year ended Dec 31, 2019, the contribution margin…

A: CVP or Cost Volume Profit analysis is a technique of accounting used for identification of the…

Q: For 2020, Roberts Ltd., had sales of 150,000 units and production of 210,000 units. Other…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: M4 Inc. expects to maintain the same inventories at the end of 2020 as at the beginning of the year.…

A: The question is based on the concept of financial accounting. As per Bartleby guidelines we are…

Q: During the year 2020, Wouie Corporation's production was equal to its normal capacity of 1,000…

A: The Numerical has covered the concept of Variable and Absorption Costing Income Statement.  In the…

Q: Of the 12,000 units produced by Hirofumi Company during April 2022, 10,000 units were sold at P50…

A: Under absorption costing, all manufacturing costs whether variable or fixed are included in cost of…

Q: Remedios Corporation's 2021 manufacturing costs were as follows: Prime cost P 600,000 100,000…

A: Product costs  for external reporting purpose = Prime costs + variable manufacturing overhead costs…

Q: Overtime produces and sells a mantel clock for $200 per unit. In 2020, 41,000 clocks were produced…

A: The cost per unit under absorption costing is calculated by adding the direct material, direct…

Q: Bandoy Company produced 100,000 units of product and sol 75,000 units at P3.0 per unit in 2018.…

A: In the absorption costing method, all the costs consider being variable which means each cost…

Q: Angel Company expects to sell 500,000 units in 2021 at P50 per unit. Variable manufacturing costs in…

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

Q: Pale Manufacturing Company has an expected production level of 175,000 product units in 2020. Fixed…

A: Fixed factory overhead rate = Total Fixed factory overhead / expected production  Variable overhead…

Q: The following data is available for Wheels ‘N Spokes Repair Shop for 2022: Repair technicians’…

A: LABOR HOUR RATE IS USED TO CHARGE THE OVERHEAD OF THE DEPARTMENT OR COST CENTRE IN THE COST OF A…

Q: Hudson Co. reports the contribution margin income statement for 2019 below. Contribution Margin…

A: Sales required to achieve target income = (Fixed Costs + Desired Sales) / Contribution margin ratio…

Q: Can somebody check my work on the variable costing income statement in the screenshot attached?…

A: Income statement based on variable costing is prepared using MS Excel:

Q: Steel Metals Ltd manufactures and sells iron rods that is used in the construction of roads. The…

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

Q: Boulevard Company expects to sell 500,000 units in 2021 at P100 per unit. Variable manufacturing…

A: Determine the effect in income when the special order is accepted ::::: special order ::: 50,000…

Q: VXY Corporation has the following standard costs associated with the manufacture and sale of one of…

A: Volume variance is the change or difference between the actual quantity of goods sold or consumed…