Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 13.00

Xenoc, Inc.

Exercise E5-4 ~ 10 General Information
Xenoc, Inc. produces stereo speakers. The selling price per pair of speakers is $1,800 Costs
involved in production are:
  Direct materials $150  
  Direct labor 200  
  Variable manufacturing overhead 100  
  Total variable manufacturing costs per unit $450  
 
  Fixed manufacturing overhead per year $540,000  
  In addition, the company has fixed selling and administrative costs:  
  Fixed selling costs per year $210,000  
  Fixed administrative costs per year $110,000  
 
Exercise E5-4 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. What is the value of ending inventory using full costing?
 
  Variable cost per unit Amount  
  Fixed manufacturing overhead per unit Amount  
  Title Formula  
 
  Ending inventory under full costing: Formula  
 
Exercise E5-5 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. What is the value of ending inventory using variable costing?
 
  Ending inventory under variable costing: Formula  
 
Exercise E5-6 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. What is the cost of goods sold using full costing?
 
  Title Amount  
  Title Formula  
 
Exercise E5-7 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. What is variable cost of goods sold?
 
  Title Amount  
  Title Formula  
 
  Text answer as appropriate  
   
 
Exercise E5-8 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. What is net income using full costing?
 
  Sales Amount  
  Less Title Amount  
  Gross margin Formula  
  Less Title Amount  
  Less Title Amount  
  Net income Formula  
 
Exercise E5-9 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. What is net income using variable costing?
 
  Sales Amount  
  Less Title Amount  
  Contribution margin Formula  
  Less Title Amount  
  Less Title Amount  
  Less Title Amount  
  Net income Formula  
 
Exercise E5-10 During the year, Xenoc produces 1,200 pairs of speakers and sells
1,000 pairs. How much fixed manufacturing overhead is in ending inventory under full costing? Compare
this amount to the difference in the net incomes calculated in Exercises E5-8 and E5-9.
 
Narrative answer:???

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 12:08 PM My Price 13.00

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