Reference no: EM132550366
Question - Michonne 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 sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month.
Required -
a) What is the unit product cost for the month under variable costing?
b) Create income statement for the month using the contribution format and the variable costing method.
c) Without preparing an income statement, determine the absorption costing net operating income for the month.
|
What is Friedmans net pay
: Steven Friedman's weekly gross earnings for the week ending March 9 were $2,490, What is Friedmans net pay
|
|
Compute Budgeted sales for product Z for the month
: Estimated beginning inventory 18,000 units and The unit selling price is $15. Compute Budgeted sales for product Z for the month
|
|
Provide the most key insights into the firm''s current level
: How likely is it that the organization could acquire the capital necessary to support an aggressive value-enhancement strategy?
|
|
What amount of revenue should be shown on the income
: During its first year of operations, Griffin Company bills credit customers $47,300 for services rendered. What amount of revenue should be shown on the income
|
|
What is the unit product cost for the month
: Direct materials $28, Direct labor $49, Variable manufacturing overhead $7, Variable selling and administrative $7. What is the unit product cost for the month
|
|
Do think the decision of capacity expansion is a good idea
: Do you think the decision of capacity expansion is a good idea given the circumstances stated in the article? Can you give more examples of companies
|
|
Prepare the necessary December adjusting journal entry
: Prepare the necessary December 31 adjusting journal entry to record depreciation for the current year assuming the company uses
|
|
Civil engineering software for survey and geomatics
: Civil Engineering Software for Survey and geomatics - Survey for Infrastructure - Roads, Rail, Sewer, Water, Electricity, Telecommunications
|
|
Compute the maximum depreciation deduction
: Kleer Corporation (a calendar-year corporation) purchased and placed in service in 2019 a $58,000 new automobile, Compute the maximum depreciation deduction
|