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Goshia [24]
3 years ago
7

Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $ 78 Units in beginning inventory 0 Units produced 8,800 Units sold 8,700 Units in ending inventory 100 Variable costs per unit: Direct materials $ 18 Direct labor $ 10 Variable manufacturing overhead $ 4 Variable selling and administrative expense $ 5 Fixed costs: Fixed manufacturing overhead $255,200 Fixed selling and administrative expense $ 87,000 What is the unit product cost for the month under absorption costing
Business
1 answer:
krek1111 [17]3 years ago
4 0

Answer:

$61

Explanation:

The computation of unit product cost for the month under absorption costing is shown below:-

Unit product cost = Direct material + Direct labor + Variable Manufacturing overhead + Fixed manufacturing cost

= $18 + $10 + $4 + ($255,200 ÷ 8,800)

= $61

Therefore for computing the unit product cost for the month under absorption costing we simply applied the above formula.

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Dvorak Company produced 1,000 units of product that required 3 standard hours per unit. The standard variable overhead cost per
valentina_108 [34]

Answer:

The variance is 4,000 - 4,200 = -200 (favourable variance).

Explanation:

To know the production variance in this exercise, we first need to know the total standard cost, then calculate the difference between the actual cost and the standard one.

Total standard cost = production volume x hour used per one unit produced x overhead cost per hour = 1,000 x 3 x 1.4 = 4,200

So, the variance is 4,000 - 4,200 = -200 (favourable variance).

4 0
3 years ago
The income statement for the month of June, 2018 of Sarasota Enterprises contains the following information:
BlackZzzverrR [31]

Answer:

b) credit to Rent Expense for $1530

Explanation:

Date Accounts and Explanation     Debit     Credit

         Income Summary                   $5,550

             Salaries & Wages Expense              $2,900

             Rent Expense                                    $1,530

             Advertising Expense                         $740

             Supplies Expense                              $270

             Insurance Expense                             $110

        (To Close the expense accounts)  

8 0
2 years ago
A company must account for a contract modification as a new contract if the:
valina [46]

Answer:

d. goods or services are distinct and company has right to receive the standalone price.

Explanation:

Goods or services are distinct and company has right to receive the standalone price.

8 0
3 years ago
An investment costs $5,200 today. this investment is expected to produce annual cash flows of $2,100, $1,300, $1,800 and $1,200,
worty [1.4K]
5,200 + 21,000 + 1,300 + 1,200 = 10,400 ÷ 10 totally investment 1,040 %
3 0
3 years ago
(A bond forward) A certain 10-year bond is currently selling for $920 A friend of yours owns a forward contract on this bond tha
sleet_krkn [62]

Answer: -$100

Explanation:

Value of forward contract = Selling price - Forward price on bond

Forward price = Present value of cashflows + Present value of bond

Periodic rate = 7%/ 2 = 3.5% per semi annum

= 8% / 2 = 4%

3.5% will be used to discount the payment 6 months from now as that is the 6 month rate. The rest will be 4%.

= (80 / (1 + 3.5%) ) + ( 80 / ( 1 + 4%)²) + (940 / ( 1 +4%)²)

= $1,020.342

= $1,020

Value of forward contract = 920 - 1,020

= -$100

4 0
2 years ago
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