CourseLover

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Teaching Since: May 2017
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    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 18 Dec 2017 My Price 10.00

Prepare operating statements for the actual output

I see you are an expert in managerial accounting. I am having trouble with these questions I needed help. thanks

1. Dallas Inc. prepared a budget last period that called for sales of 15,000 units at a price of $20 each. The costs per unit were estimated to amount to $10 variable and $4 fixed. During the period, actual production and sales were 14,000 units. The actual selling price was $22 per unit. Variable costs were $9 per unit. Fixed costs actually incurred were $65,000. Required: a) Prepare operating statements for the actual output, as well as a static budget and a flexible budget. b) Explain what is indicated when comparing the operating statements. 2. Guy’s Grills, Inc. makes a single product - a handmade specialty barbeque grill that sells for $500. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 40,000 Units sold 30,000 Variable costs per unit: Direct materials $ 100 Direct labor 150 Variable manufacturing overhead 80 Variable selling and administrative 20 Total variable cost per unit $ 350 Fixed costs: Fixed manufacturing overhead $1,000,000 Fixed selling and administrative 500,000 Total fixed costs $1,500,000 Required: a) Compute the unit product cost for one barbeque grill for absorption costing, variable costing, and throughput costing. b) Prepare an income statement for the year using the absorption costing approach. c) Prepare an income statement for the year using the variable costing approach. d) Explain the difference in operating income for the absorption and variable costing approaches.
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Answers

CourseLover
(12)
Status NEW Posted 18 Dec 2017 06:12 AM My Price 10.00

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