Question
In: Accounting
8. Franklin Company, which has only one product, has provided the following data concerning its first...
8. Franklin Company, which has only one product, has provided the following data concerning its first month of operations:
Selling price $200
Units produced 1,000
Units sold 900
Variable product costs per unit $80
Variable selling and administrative costs per unit $20
Fixed manufacturing costs $36,000
Fixed selling and administrative costs $9,000
Required:
a. What is the value of ending inventory using the variable costing method?
b. What is the value of ending inventory using the absorption costing method?
c. What is the contribution margin per unit?
d. Prepare a variable costing income statement for the month using variable costing (assume no taxes).
e. What is the gross profit margin per unit?
f. Prepare an income statement for the month using absorption costing (assume no taxes).
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Brady Products Manufacturers, which has only one product, has provided the following data concerning its first...
Brady Products Manufacturers, which has only one product, has
provided the following data concerning its first month of
operations: Selling price $120.00 Units produced 4,000 units Units
sold 3,600 units Units in ending inventory 400 units Variable
manufacturing costs $90.00 Variable selling and administrative
costs $8.00 per unit sold Fixed manufacturing overhead costs
$56,000 Fixed selling and administrative costs $21,600 The company
produces the same number of units every month, although the sales
in units vary from month to month....
Question 3 Beastboy Company, which has only one product, has provided the following data concerning its...
Question 3
Beastboy Company, which has only one product, has provided the
following data concerning its most recent month of operations:
Selling price
RM120
Units in beginning inventory
500
Units produced
13,000
Units sold
12,800
Variable costs per unit:
Direct materials
RM35
Direct labor
RM15
Variable manufacturing overhead
RM12
Variable selling and administrative
RM6
Fixed costs:
Fixed manufacturing overhead
RM70,000
Fixed selling and administrative
RM140,000
The company produces the same number of units every month,
although the sales in units...
Question 2 Superman Company, which has only one product, has provided the following data concerning its...
Question 2
Superman Company, which has only one product, has provided the
following data concerning its most recent month of operations:
Selling price
RM140
Units in beginning inventory
500
Units produced
12,000
Units sold
11,800
Variable costs per unit:
Direct materials
RM35
Direct labor
RM22
Variable manufacturing overhead
RM18
Variable selling and administrative
RM15
Fixed costs:
Fixed manufacturing overhead
RM80,000
Fixed selling and administrative
RM175,000
The company produces the same number of units every month,
although the sales in units...
Question 2 Superman Company, which has only one product, has provided the following data concerning its...
Question 2
Superman Company, which has only one product, has provided the
following data concerning its most recent month of
operations:
Selling price RM140
Units in beginning inventory 500
Units produced 12,000
Units sold 11,800
Variable costs per unit:
Direct materials RM35
Direct labor RM22
Variable manufacturing overhead RM18
Variable selling and administrative RM15
Fixed costs:
Fixed manufacturing overhead RM80,000
Fixed selling and administrative RM175,000
The company produces the same number of units every month, although
the sales in...
Packer Company, which has only one product, has provided the following data concerning its most recent...
Packer Company, which has only one product, has provided the
following data concerning its most recent month of operations:
Selling price
$
83
Units in beginning inventory
375
Units produced
2,220
Units sold
2,070
Units in ending inventory
525
Variable cost per unit:
Direct materials
$
21
Direct labor
$
18
Variable manufacturing overhead
$
1
Variable selling and administrative
$
12
Fixed costs:
Fixed manufacturing overhead
$
51,060
Fixed selling and administrative
$
6,210
The company produces the same...
Map Company, which has only one product, has provided the following data concerning its most recent...
Map Company, which has only one product, has provided the
following data concerning its most recent month of operations:
Selling
price...............................................
$140
Units in beginning
inventory.....................
0
Units
produced..........................................
8,400
Units
sold..................................................
8,200
Units in ending
inventory..........................
200
Variable costs per unit:
Direct
materials.......................................
$42
Direct
labor.............................................
$32
Variable manufacturing
overhead...........
$1
Variable selling and
administrative.........
$8
Fixed costs:
Fixed manufacturing
overhead................
$280,800
Fixed selling and
administrative..............
$98,000
Required:
Prepare an income statement for the month using...
Question 3 Beastboy Company, which has only one product, has provided the following data concerning its...
Question 3
Beastboy Company, which has only one product, has provided the
following data concerning its most recent month of
operations:
Selling price RM120
Units in beginning inventory 500
Units produced 13,000
Units sold 12,800
Variable costs per unit:
Direct materials RM35
Direct labor RM15
Variable manufacturing overhead RM12
Variable selling and administrative RM6
Fixed costs:
Fixed manufacturing overhead RM70,000
Fixed selling and administrative RM140,000
The company produces the same number of units every month, although
the sales in...
Nesman Company, which has only one product, has provided the following data concerning its most recent...
Nesman Company, which has only one product, has provided the
following data concerning its most recent month of operations:
Selling price
$
122
Units in beginning inventory
310
Units produced
6,600
Units sold
6,670
Units in ending inventory
240
Variable cost per unit:
Direct materials
$
48
Direct labor
$
26
Variable manufacturing overhead
$
3
Variable selling and administrative
$
13
Fixed costs:
Fixed manufacturing overhead
$
151,800
Fixed selling and administrative
$
46,690
The company produces the same...
ABC Company, which has only one product, has provided the following data concerning its most recent...
ABC Company, which has only one product, has provided the
following data concerning its most recent month of operations:
Selling price $155, Units in beginning inventory 100, Units
produced 4,500, Units sold 4,300, Units in ending inventory 300.
Variable costs per unit: Direct materials $28, Direct labor $49,
Variable manufacturing overhead $7, Variable selling and
administrative $7. Fixed costs: Fixed manufacturing overhead
$175,500, Fixed selling and administrative $81,700. The company
produces the same number of units every month, although the...
Madison Company, which has only one product, has provided the following data concerning its most recent...
Madison Company, which has only one product, has provided the
following data concerning its most recent month of
operations:
Selling price
$166
Units in beginning inventory
600
Units produced
13,200
Units sold
13,350
Variable costs per unit:
Direct materials
$51
Direct labour
$56
Variable manufacturing overhead
$5
Variable selling and administrative
$13
Fixed costs:
Fixed manufacturing overhead
$92,400
Fixed selling and administrative
$253,650
The company produces the same number of units every month, although
the sales in units vary from...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Do you agree that Social Loafing is similar to Theory X. Give an example to support...
- Computing Cost of Goods Sold and Ending Inventory. Bartov Corporation reports the following beginning inventory and...
- SQL FORMAT (11-13 are completed and correct) -- 11. what are the names of all students...
- You have been hired as a capital budgeting analyst by Advent Sports, a sporting goods firm...
- DESCRIBE WHAT HAPPENS WHEN WE BECOME CONSCIOUS OF SOMETHING. WHAT HAS TO HAPPEN FOR CONSCIOUS AWARENESS...
- 3) You are rolling a 12 sided die 8 times. a) What is the size for...
- explain the difference between quantitative and qualitative research strategies. Provide an example of a crime based...
ADVERTISEMENT