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The follow data relates to year 20XX for Plano Manufacturing Company:Units produced - 2,000Units sold - 1,800Selling price - $200 / per unitDirect material costs - $80,000Direct labor costs - $26,000Variable overhead - $18,000Variable selling costs - $6,000Fixed overhead - $40,000Fixed selling costs - $60,000Required:a) Calculate cost of goods sold under throughput costing, variable costing, and absorption costing.b) Calculate ending inventory under throughput costing, variable costing, and absorption costing.c) Calculate operating income under throughput costing, variable costing, and absorption costing.
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
The vice president of operations of six layer computer Inc. is evaluating the performance of two divisions organized as investments centers. Invested assets and condensed income st
Fosson Furniture uses a process cost system to account for its chair factory. Beginning inventory consisted of 5,000 units (100% complete as to material, 55% complete as to labor)
Chrome-It, Inc., manufactures special chromed parts made to the order and specifications of the customer. It has two production departments, stamping and plating, and two service
Cost Book-Keeping In cost account accounts, extensive employ is made of control accounts that are based in the similar principles as those utilized in financial accounts. Two
Balance Sheet Preparation with a Missing Element The following data are available for Schubert Products Inc. as of December 31, 2012. Cash . . . . . . . . . . . . . . . . . . .
sabonis consmetics co. purchased machinery on december 31,2011, paying $50,000 down and agreeing to pay the balance in four equal installments of $40,000 payable each dec 31. an as
TYPES OF VARIANCES Variances are computed for the entire three basic elements of cost - direct labour, direct material, and overhead variance 1. Direct labour variance 2.
A firm operates two plants with the marginal cost curves given by MC 1 = 50 + 2Q 1 , MC 2 = 90 + Q 2 . If the firm's total output must be 80 units, how much will it produce a
Determine Profit by Using Absorption Costing Assuming the fixed overhead absorption rate was Ksh.3 per litre, then what would be the profit utilizing absorption costing? a)
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