Shalom Company was established at the beginning of May to produce Peace products and sell them for P150 per unit. At the end of the month, the following data were made available. UNITS Produced Sold COSTS Direct materials Direct labor Manufacturing overhead Manufacturing overhead ABSORPTION COSTING 7,700 7,500 Selling and administrative Selling and administrative Provide answers to the following items: Amounts must be in whole numbers. Example: 88,000 or (88,000) Unit costs be in whole numbers. Example: 88 VARIABLE COSTING 3 146,300 10 60,000 (1) What is the cost per unit? (2) What is the gross profit margin? (3) What is the net income? 40 34 Format of percentages: 88% Format of units: 88,000 UNITS (in whole numbers, one space after the number of units) Words must be in capital letters. ANALYSIS & PRESENTATION (4) What is the cost per unit? (5) What is the contribution margin? (6) What is the net income? per unit per unit per unit per month per unit per month (7) What amount shall be reflected as cost of Shalom Company's ending inventory? (8) What shall be the amount Shalom Company's sales to reach break-even?

Shalom Company was established at the beginning of May to produce Peace products and sell them for P150 per unit. At the end of the month, the following data were made available. UNITS Produced Sold COSTS Direct materials Direct labor Manufacturing overhead Manufacturing overhead ABSORPTION COSTING 7,700 7,500 Selling and administrative Selling and administrative Provide answers to the following items: Amounts must be in whole numbers. Example: 88,000 or (88,000) Unit costs be in whole numbers. Example: 88 VARIABLE COSTING 3 146,300 10 60,000 (1) What is the cost per unit? (2) What is the gross profit margin? (3) What is the net income? 40 34 Format of percentages: 88% Format of units: 88,000 UNITS (in whole numbers, one space after the number of units) Words must be in capital letters. ANALYSIS & PRESENTATION (4) What is the cost per unit? (5) What is the contribution margin? (6) What is the net income? per unit per unit per unit per month per unit per month (7) What amount shall be reflected as cost of Shalom Company's ending inventory? (8) What shall be the amount Shalom Company's sales to reach break-even?

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Description: need solution,anwer is given [96][405,000][270,000]:[77]= [472,500][266,200][19,200][491,190] Shalom Company was established at the beginning of May to produce Peace products and sellthem for P150 per unit. At the end of the month, the following data

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 6E: Foamy Inc. manufactures shaving cream and uses the weighted average cost method. In November,...

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