User Account

All Pages

What is the value of ending inventory using full costing

Assignment Help Managerial Accounting
Reference no: EM132977047

Question - Covington Manufacturing produces snow shovels. The selling price per snow shovel is $33.00. There is no beginning inventory.

Costs involved in production are:

Direct material $5.00

Direct labor 5.00

Variable manufacturing overhead 4.00

Total variable manufacturing costs per unit $14.00

Fixed manufacturing overhead per year $155,150

In addition, the company has fixed selling and administrative costs of $154,600 per year.

During the year, Covington produces 53,500 snow shovels and sells 48,350 snow shovels.

What is the value of ending inventory using full costing?

Reference no: EM132977047

Questions Cloud

Conduct a review of ccf & mbs current market : Identify of target markets, using a combination of research and your own personal experience and Conduct a review of CCF & MB's current market position based
What is net income using variable costing : In addition, the company has fixed selling and administrative costs of $154,600 per year. What is net income using variable costing
Plan to assist in developing and nurturing relationships : How you could use and cooperate with other professionals and third parties to expand and enhance the reputation of the organisation, and to identify new
Who are main users of company published financial statement : What are the benefits and drawbacks of ratio analysis? What are the three main financial Statements? Who are the main users of a company's published
What is the value of ending inventory using full costing : Covington Manufacturing produces snow shovels. The selling price per snow shovel is $33.00. What is the value of ending inventory using full costing
Developing and nurturing relationships with clients : Developing and nurturing relationships with clients, other professionals and third-party referrers and How you would adjust your interpersonal style
What is the sales activity variance for the basic model : What is the sales activity variance for the basic model? Actual sales were 15,000 basic models and 5000 deluxe models. The actual sales prices were the same
What are the benefits of process costing : What are the benefits of Process Costing? Can you explain what the terms Monopoly, Pure Monopoly, and Bilateral Monopoly mean
What are the key warnings of this case : A two year old youngster is carried into the break facility with a crack of the correct span and ulna. What are the key warnings of this case

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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