The company, which has only one product, has provided the following data concerning its most recent month of operations:Selling price $124Units in beginning inventory: 0Units produced: 6,100Units sold: 5,600Units in ending inventory: 500variable costs per unit:Direct material: $23Direct labor: 43Variable manufacturing overhead: 2Variable selling and administrative: 11Fixed costs:Fixed manufacturing overhead: $183,000Fixed selling and administrative: $61,6001) Prepare a contribution format income statement for the month using variable costing.

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Formulas:

Q: Ellerson Company provided the following information for the last calendar year: Beginning…

A: Income statement means a statement which shown all revenue , gains , expenses and losses of the…

Q: business operated at 100% of capacity during its first month and incurred the following costs:…

A: Absorption Costing: The absorption costing is the method of costing in which the enterprise…

Q: f 1,900 units remain unsold at the end of the month, the amount of inventory that would be reported…

A: Solution : Amount of inventory shown in balance sheet =(Computation  of variable cost per unit *…

Q: Aaker Corporation, which has only one product, has provided the following data concerning its most…

A: Product cost includes all the variable manufacturing expenses such as direct expenses, direct labor,…

Q: What is the net operating income for the month under variable costing?

A: Net income: The bottom line of income statement which is the result of excess of earnings from…

Q: Pennell Company gathered the following information for the year ended December 31, 2018. During the…

A: Sales: It is an economic activity. Under this, one party sell its goods or services to another…

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 26,160 units and sold…

A: Selling price per unit = $971,850 / 20,900 units = $46.50   Variable cost per unit = [($188,352 +…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: PARTICULARS  AMOUNT ($) DIRECT MATERIAL $175,500 DIRECT LABOR $232,800 VARIABLE FACTORY…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Period cost under absorption costing  = Fixed selling and administrative expense + Variable selling…

Q: Hatfield Company, which has only one product, has provided the following data concerning its most…

A: Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: As per the absorption costing system, product cost includes both fixed and variable expenses.

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Formula: Total period cost for the month under the absorption costing approach = Variable selling…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: In variable income statement all the variable manufacturing expenses are considered as the product…

Q: y Company, which has only one product, has provided the following data concerning its most recent…

A: Solution: Period costs are those costs which are not expensed as incurred other than product cost.…

Q: The following information is available for the first month of operations of Bahadir Company, a…

A: A.

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: given that, number of units sold = 7300 units selling price per unit = $134 sales = 7300 * $134 =…

Q: A manufacturer reports the following costs to produce 25,000 units in its first year of operations:…

A: We know that under variable costing inventory value includes all variable costs. That is, Value of…

Q: Wyandotte Company provided the following information for the last calendar year: Beginning…

A: We know the prime cost = Direct Material  used+ Direct Labour + Direct Expense Direct Material Used…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Variable costing: Variable costing is a concept of managerial costing. Income under variable costing…

Q: JRM Inc., which has only one product, provided the following data for April: Sales @ P74/unit…

A: Solution.. Units sold  = Total sales revenue ÷ selling price per unit  = P636,400 ÷ P74 per unit  =…

Q: The EG Company produces and sells one product. The following data refer to the year just…

A: Absorption costing: It is a technique that assumes both fixed cost and variable cost as product…

Q: Wyandotte Company provided the following information for the last calendar year: Beginning…

A: Direct material refers to the material cost that is directly associated with the production process.…

Q: JRM Inc., which has only one product, provided the following data for April: Sales @ P74/unit…

A:

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Unit product cost under variable costing = Direct materials + Direct labor + Variable manufacturing…

Q: Nelter Corporation, which has only one product, has provided the following data concerning its most…

A: Variable Costing: Unit Cost = Direct Materials + Direct Labor + Variable Manufacturing OverheadUnit…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: The period cost is that cost that can not be capitalized like fixed manufacturing overhead, selling…

Q: Hatfield Company, which has only one product, has provided the following data concerning its most…

A: Calculation of unit product cost under variable Costing method:: Direct material::$45.. Direct…

Q: Amex Company, which has woolen scarves to produce, has provided the following data  concerning its…

A: Under absorption costing, gross profit is calculated as difference between sales and cost of goods…

Q: Sprint Shoes Inc. had a beginning inventory of 9,250 units on January 1, 20X1. The costs associated…

A: LIFO, last in last out is method for accounting  inventory. under LIFO method,cost of most recent…

Q: Inc. has provided the following data concerning their operations in the most recent month with…

A: Under variable costing system unit product cost include all the variable manufacturing cost that is…

Q: Amex Company, which has woolen scarves to produce, has provided the following data  concerning its…

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

Q: Maher Corporation, which has only one product, has provided the following data concerning its most…

A: The following data is related to Maher Corporation for the month as per the given information.

Q: The following information is available for the first month of operations of Bahadir Company, a…

A: a. Cost of Goods Sold = Sales-Gross Profit =$451,170-$263,030=$188,140   b. Finished Goods Inventory…

Q: Calculate net income for the month using variable costing.   a. $173,236   b. $153,781   c.…

A: Units produce  81,450 Units sold 77,820 Selling price per unit:                      $13.80…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Variable costing is the method of costing, where only the variable costs are assigned to the cost of…

Q: total period cost for the month under the variable costing approach

A: Period costs are costs that do not become part of the cost of production.

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Ending Inventory = Number of Units in Ending Inventory x Cost per Unit Cost per Unit under Variable…

Q: A manufacturing company that produces a single product has provided the following data concerning…

A: Selling price= $117 Units in beginning inventory 0 Units produced 2,900 Units sold 2,500 Units in…

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Formula: Total Product costs = Direct Materials + Direct Labor + Variable factory overhead.

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Under variable costing system, the inventory would consist of only variable expenses.

Q: During its first year of operations, the McCormick Company incurred the following manufacturing…

A: Absorption Costing: Absorption Costing is a costing system that is used in valuing inventory. It not…

Q: Company A, which follows the normal cost system, had the following information for the fiscal year…

A: 1)  The amount of inventory recognized in the financial statements of Company A is the amount of…

Q: unit product cost for the month under variable costing

A: Variable costing is a cost accounting method which uses variable costs only for product costing.

Q: A business operated at 100% of capacity during its first month and incurred the following costs:…

A: Variable costing is a method under which the direct costs are included which varies according to the…

Q: During its first year of operations, the McCormick Company incurred the following manufacturing…

A: The cost can be classified into two categories i.e fixed cost and variable cost. The  FIxed cost…

Q: Prior to the first month of operations ending October 31, Marshall Inc. estimated the following…

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

Q: Krepps Corporation produces a single product. Last year, Krepps manufactured 27,120 units and sold…

A: Ending inventory units = Total units produced - units sold = 27,120 units - 21,800 units = 5,320…

Q: Wiremold tracks the direct materials in inventory. At the end of their most recent month, the direct…

A: Raw material inventory      920000 x 7/20 =   322000 WIP  raw material.   920000x2/20. = 92000 Cost…