Pronghorn Corp reports the following for the month of June.DateExplanationUnitsUnit CostTotal CostJune 1Inventory117$5$ 58533612Purchases2,01623Purchases1831,28130Inventory239Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)Weighted-average unit cost2$LINK TO TEXTVIDEO: APPLIED SKILLSVIDEO: SIMILAR EXERCISECompute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)FIFOLIFOAverage-costThe cost of the ending inventory2$$The cost of goods sold$$1

Date Explanation Units Unit cost Total cost 1-Jun Inventory 117 $5 $585 12-Jun Purchases 336 $6…

Answered: Pronghorn Corp reports the following…

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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Similar questions

Product cost concept of product pricing Based on the data presented in Exercise 12-15, assume that Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. a.Determine the total manufacturing costs and the cost amount per unit for the production and sale of 200,000 units. b.Determine the product cost markup percentage per unit. Round to two decimal place. c.Determine the selling price per unit. Round to the nearest dollar.
Use the following information for Multiple- Choice Questions 2-13 through 2-18: Last year, Barnard Company incurred the following costs: Barnard produced and sold 10,000 units at a price of 31 each. 2-15 Refer to the information for Barnard Company on the previous page. The cost of goods sold per unit is a. 7.00. b. 20.00. c. 15.00. d. 5.00. e. 27.60.
Refer to Gjerty Corporation. Under absorption costing, the standardproduction cost per unit for the current year wasa. P11.30.b. P 7.30.c. P11.55.d. P13.05.
Sunland Corp. has collected the following data concerning its maintenance costs for the past 6 months. Units Produced Total Cost July 18,060 $33,913 August 32,096 48,144 September 36,108 55,165 October 22,066 38,114 November 40,120 74,724 December 38,114 62,186 (A) Compute the variable cost per unit using the high-low method. (Round answer to 2 decimal places, e.g. 2.25.) Variable cost per unit $enter the variable cost per unit in dollars rounded to 2 decimal places (B) Compute the fixed cost elements using the high-low method. Fixed costs $enter the fixed costs in dollars
The following information was extracted from The Cape Adventures T&T Pvt Ltd. The company manufactures a single product. The particulars for February 2023 are as follows: Units manufactured and sold 18 750. Selling price per unit R 100 Manufacturing cost: – Variable R468 750 – Fixed R187 500 Selling and administrative cost: – Variable selling cost (R5,00 per unit) R 93 750 – Fixed selling cost R 50 000 – Fixed administration cost R 12 500 Required: Draft the statement of comprehensive income for the month ended 28 February 2023 according to the: i. direct costing method ii. absorption costing method.
Joint products A, B and C are produced by JNT Corp. For the month just ended, these data are available: Using the market value method, the joint cost apportioned to each product will be: A. A – P22,652; B – P13,843; C – P13,335 B. A – P19,995; B – P19,014; C – P10,821 C. A – P22,440; B – P16,005; C – P11,385 D. A – P24,357; B – P14,885; C – P10,588
The manufacturing costs of Mocha Industries for 3 months of the year are as follows: Total Cost Production April $103,180 1,400 units May 107,492 1,960 June 114,268 2,840 Using the high-low method, determine the (a) variable cost per unit and (b) the total fixed costs. Round "Cost per unit" answer to two decimal places. a. Variable cost per unit $fill in the blank 1 per unit b. Total fixed costs $fill in the blank 2
⦁ Sally Company has the following sales data and total monthly cost data.Month Units Sold Total cost1 195 $ 972 125 873 105 734 155 895 95 816 215 1107 145 938 85 58Required: ⦁ Estimate the Fixed Cost for Sally Company using the High-Low Method. Show computation.
Use the information given below to prepare the Income Statement for March 2022 according to theabsorption costing method. INFORMATIONThe following information was extracted from the accounting records of Alpha Enterprises for the month ended 31March 2022:Sales 3 200 unitsSelling price per unit R100Finished products on 01 March 2022 400 unitsProducts manufactured during the month 3 600 unitsVariable manufacturing costs per unit R26Variable selling and administrative costs per unit sold R12Fixed manufacturing costs R25 200Fixed selling and administrative costs R12 400 Additional informationThe variable manufacturing cost per unit and total manufacturing cost per unit of the finished goods on 01 March2022 was R21.60…
Use the information given below to prepare the Income Statement for March 2022 according to theabsorption costing method. INFORMATIONThe following information was extracted from the accounting records of Alpha Enterprises for the month ended 31March 2022: Sales 3 200 unitsSelling price per unit R100Finished products on 01 March 2022 400 unitsProducts manufactured during the month 3 600 unitsVariable manufacturing costs per unit R26Variable selling and administrative costs per unit sold R12Fixed manufacturing costs R25 200Fixed selling and administrative costs R12 400
Robin Inc. provides the following manufacturing costs for the Third quarter of the year in the table below. Manufacturing Costs for the Third Quarter Months Production in Units Total Costs July 3,800 $59,550 August 4,200 $62,450 September 5,500 $71,875 Using the high-low method, determine the variable costs per unit. (Round intermediate calculations and your final answer to two decimal places.) Group of answer choices $14.37 $13.07 $7.25 $15.67
The manufacturing costs of Mocha Industries for 3 months of the year are as follows: Total Cost ProductionApril $58,354 1,870 units May $61,504 2,620 June $66,460 3,800 Using the high-low method, determine the (a) variable cost per unit and (b) the total fixed costs. Round "Cost per unit" answer to two decimal places. a. Variable cost per unitb. Total fixed costs

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