User Account

All Pages

What value of ending inventory under variable costing

Assignment Help Managerial Accounting
Reference no: EM132515384

Question 1: During the first year of operations, the Mccormick Company incurred the following manufacturing costs: Direct Materials, $5 per unit, Direct Labor, $3 per unit, variable overhead, $4 per unit, and fixed overhead $363,000. The company produced 33,000 units, and sold 27,000 units, leaving 6,000 units in inventory at year- end. What is the value of ending inventory under variable costing?

Option a. 72,000

Option b. 138,000

Option c. 66,000

Option d. 363,000

Reference no: EM132515384

Questions Cloud

Purposes and methods of psychological assessments : What are current purposes and methods of psychological assessments?
How much income is reported under absorption costing : 6,000 units in inventory,Income calculated under variable costing is determined to be $330,000. How much income is reported under absorption costing?
Discuss what unconsciousness : Discuss what unconsciousness is and how it relates to symptoms exhibited by clients that are not organic in nature (medically explained).
Multiple advertisements for a product : Some companies use Top of Mind advertising strategies to make sure a customer is constantly exposed to multiple advertisements for a product
What value of ending inventory under variable costing : The company produced 33,000 units, and sold 27,000 units, leaving 6,000 units in inventory at year- end. What value of ending inventory under variable costing?
What amount of cash did Ripley pay for interest : Ripley provides a 90-day warranty on merchandise sold. The warranty expense is estimated to be 1 percent of sales. What amount of cash Ripley pay for interest
What is the amount of working capital and the current ratio : What is the amount of working capital and the current ratio at the end of this year? (Round "Current ratio" to 2 decimal places.)
Compute the depreciation expense for each of the seven years : Banger Co. purchased delivery equipment for $56,000 on January 1, 2018. Compute the depreciation expense for each of the seven years
Compute the amount of depletion that should be recorded : Frederick extracted and sold 145,000 tons of ore. What is the amount of depletion that should be recorded? Round total the nearest whole dollar

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