User Account

All Pages

Calculate the balance in finished goods inventory

Assignment Help Managerial Accounting
Reference no: EM133033581

Question - Cinnabar, Inc. has provided the following data for the year:

Direct materials $10 per unit

Direct labor $15 per unit

Variable manufacturing overhead $20 per unit

Fixed manufacturing overhead $25,000 per year

Fixed selling and administrative costs $15,000 per year

Sales price $75 per unit

Beginning Finished Goods Inventory 500 units

Units produced 5,000 units

Units sold 4,500 units

Requirements -

a) Compute Cinnabar's unit product cost under absorption costing and variable costing.

b) Prepare income statements for Cinnabar using absorption costing and variable costing.

c) Calculate the balance in Finished Goods Inventory using absorption costing and variable costing.

Assume that the production level, costs, and sales prices were the same in the previous year.

Reference no: EM133033581

Questions Cloud

Reason for the failure of six sigma projects : What is one primary reason for the failure of Six Sigma projects? What is one primary reason for the success of Six Sigma projects?
Applicable employment laws : A hospital had the following policy: "All pregnant personnel must immediately report pregnancy status to the director. ... The pregnant personnel shall not part
Should the trade discount be taken by Sphinx : If Sphinx can borrow funds in the short-term money markets at 20%, should the trade discount be taken by Sphinx
Constraint and re-solve model : While cleaning out your attic, you discovered a box of 200 vintage T-shirts of a formerly famous character/celebrity who is suddenly popular again. You'd like t
Calculate the balance in finished goods inventory : Fixed selling and administrative costs $15,000 per year. Calculate the balance in Finished Goods Inventory using absorption costing and variable costing
Briggs personality types model : Using the Jungian and Myers Briggs Personality Types model presented a 2.5 on page 44 of your text, analyze Susan Sheppard and Alexandra Woodward as individuals
Design an education and vocation department : Design an education and vocation department for a female facility - What courses or vocational trades would you include in your curriculum
Key roles and responsibilities of government : What are some of the key roles and responsibilities of government, industry, academia, and other non-governmental organizations with respect to critical infrast
Compute Dr K Kamukama Taxable income : Incomes from other sources include: gross rent shs 39,000,000. Compute Dr K Kamukama Taxable income

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Make a purchases budget for the department

Make a purchases budget for the department showing the amount of goods to be purchased during April.

  To what extent would cm approach better assist management

To what extent would the CM approach better assist management in ensuring that all costs will be covered? You think that under absorption costing.

  What are the investments payback period and irr

What are the investment's payback period, IRR, and NPV, assuming the firm's WACC is 8% and if the firm requires a payback period of less than 5 years, should this project be accepted?

  Calculate npv and provide a recommendation to management

Calculate NPV and provide a recommendation to management as to whether the project should proceed and outline what other factors should be considered

  Calculate the total production costs of the disney project

Calculate the total production costs of the Disney Project using traditional costing, when manufacturing overhead is applied at 125% of direct labour cost.

  Make a bank reconciliation

(a) Make a bank reconciliation at July 31. (List items that increase cash balance first.)

  Explain why the required rate of return increased in fiscal

While income has increased in fiscal 2012, is it clear that the company's performance has improved?

  Problem - analyze valley hospital admissions time variance

Problem - Analyze Valley Hospital's Admissions Time Variance - What are the standard hours for the actual volume of work for the week

  Explain the focus of managerial accounting

Assume the role of Summer and explain the focus of managerial accounting and some of the ways it differs from financial accounting.

  What is the cost of goods sold for ivanhoe inc

What is the cost of goods sold for 2022? (Round cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.)

  What predetermined overhead rate was in effect during year

If overhead is applied to production on the basis of direct labor cost, what predetermined overhead rate was in effect during the year?

  What is the most are willing to pay for the security

If your discount rate is 10%, what is the most you are willing to pay for this security? You are offered a security that will pay you $3,500 at the end

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd