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Category > Accounting Posted 11 Aug 2017 My Price 12.00

Advanced Company

1.

Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units Produced this year 25,000 units

Units sold this year 15,000 units

direct materials $9 per unit

Direct Labor $11 per unit

Variable Overhead $75,000 in total

Fixed Overhead $137,500 in total

Given Advanced Company's data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under absorption costing.

$205,000, $122,500, $80,500, $55,000
$67,500



Front Company had net income of $72,500 based on variable costing. Beginning and ending inventories were 800 units and 1,200 units, respectively. Assume the fixed overhead per unit was $7.90 for both the beginning and ending inventory. What is net income under absorption costing?
  $88,300
  $56,700
  $69,340
  $75,660
  $72,900
 
Swisher, Incorporated reports the following annual cost data for its single product.
This product is normally sold for $48 per unit. If Swisher increases its production to 50,000 units, while sales remain at the current 30,000 unit level, by how much would the company's gross margin increase or decrease under variable costing?
  $90,000 decrease.
  $60,000 increase.
  $60,000 decrease.
  There is no change in gross margin.
  $90,000 increase.



  Sea Company reports the following information regarding its production cost.
Units Produced 42,000 Units
Direct Laber $35 per unit
Direct Materials $28 per unit
Variable Overhead $17 per unit
Fixed Overhead $105,000 in total
Compute production cost per unit under variable costing.

  $80.00
  $63.00
  $35.00
  $28.00
  $82.50

  Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.
Units Produced this year 25,000 units
Units sold this year 15,000 units
Direct Materials $9 per unit
Direct Labor $11 per unit
Variable Overhead $75,000 in total
Fixed Overhead $137,500
Given Advanced Company's data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under variable costing.

  $67,500
  $55,000
  $80,500
  $122,500
  $205,000



Shore Company reports the following information regarding its production cost.
Units produced 28,000 units
direct labor $23 per unit
direct materials $24 per unit
Variable overhead $280,000 in total
Fixed overhead $94,920 in total
Compute production cost per unit under absorption costing
  $60.39
  $47.00
  $23.00
  $57.00
  $24.00


Pact Company had net income of $972,000 based on variable costing. Beginning and ending inventories were 7,800 units and 5,200 units, respectively. Assume the fixed overhead per unit was $3.61 for both the beginning and ending inventory. What is net income under absorption costing?

  $925,077
  $969,400
  $981,379
  $962,614
  $1,018,923


Decko Industries reported the following monthly data.
Units produced 52,000 units
sales price $33 per unit
Direct materials $1.50 per unit
Direct labor $2.50 per unit
Variable overhead $3.50 per unit
Fixed overhead $234,000 in total
What is the company's contribution margin for this month if 50,000 units were sold?
  $1,716,000
  $1,650,000
  $1,326,000
  $1,275,000
  $1,450,000

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 02:08 PM My Price 12.00

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