Using absorption costing, JKL Company's income for October was Php250,000. JKL began the month with 10,000 units in finished goods inventory that contained Php30,000 of fixed manufacturing overhead costs. During October, the company produced 330,000 units and sold 325,000 units. The fixed manufacturing overhead for October totaled Php990,000. If JKL company used variable costing, its income for October would be

Q: Salley Corporation produces a single product.Last year, the company had net operating income of…

A: Absorption Costing: Absorption costing is a method for calculating the full cost or total cost of a…

Q: During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials…

A: Solution: Product cost per unit for external reporting purposes = Total manufacturing costs / Nos of…

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A: Absorption Costing - In this costing method cost associated with the manufacturing of a product is…

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A: An overhead variance refers to the difference between the budgeted overhead expense and the actual…

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A: Material cost = Php 850,000 Labor cost ratio in prime cost = 70% Material cost ration in prime cost…

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A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

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A: Absorption Costing In the Absorption costing techniques the calculation of total cot of goods…

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A: Fixed Overhead Spending Variance is the difference between the Actual Fixed Overhead Cost and…

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A: Estimated manufacturing expenses would be consisted of total fixed and variable costs.

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A: The total production means the cost that is incurred in the process of the production. In total…

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A: Material cost = Php 650,000 Labor cost ratio = 40% Prime cost = Material cost/(1-Labor cost ratio)…

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A: Variable cost per unit = Total variable costs / Units = $32,500 / 5000 = $6.5  Variable costs at…

Q: Cool Sky reports the following costing data on its product for its first year of operations. During…

A: In variable costing income statement, the contribution margin is determined by first subtracting the…

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A: “Hey, since there are multiple requirements posted, we will answer first three requirements. If you…

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A: Variable costing:   Variable costing is the method that is used by the management (managers) for…

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A:

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

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A: Variable costing includes all the variable expenses like direct material, direct labor, variable…

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

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A: Since we answer up to three subparts, we will answer the first three subparts. Please resubmit the…

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

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A: Prime cost = Direct labor cost/Percentage of direct labor cost on prime cost

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A: Answer -  Calculation of manufacturing overhead -  Direct labor cost total = 650,000 Its equal prime…

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A: The absorption costing includes both variable and fixed cost whereas variable costing includes only…

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A: Total variable costs changes with the level of activity. Total fixed costs remains same within the…

Q: My Company produced 26,000 units during February. Direct materials costs are $4.25 per unit and…

A: Since you have asked to answer 4 parts under a single question. We solved 3 parts to get the…

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A: The variable costs are the costs that changes with change in production units number.

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A: Under absorption costing, the product cost comprises of variable and fixed production cost.

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

A:

Q: During January 2021, XYZ Corp. produced 100,000 units of Product A with costs as follows: Materials…

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

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A: Under Variable Costing all Variable manufacturing costs are included in the product Cost. All Fixed…

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A: Absorption Costing Method:  Under this method of costing the inventory cost, both the variables cost…

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A: Solution...     Highest point  Production in units = 2,600  Costs = $47,900  Lowest point…

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A: Lets understand the basics. Prime cost is a cost which are directly related to the production of the…

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Q: [The following information applies to the questions displayed below.] Cool Sky reports the following…

A: Formula: Absorption costing: Unit product cost = Direct materials + direct labor + variable overhead…

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A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

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

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A: In the given Question Direct material and Direct labor are full variable cost Direct Material and…