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Lelechka [254]
2 years ago
12

Swansea Finishing produces and sells a decorative pillow for $100.00 per unit. In the first month of operation, 2,000 units were

produced and 1,800 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes: Variable manufacturing costs $23.00 per unit Variable marketing costs $5.00 per unit Fixed manufacturing costs $13 per unit Administrative expenses, all fixed $19.50 per unit Ending inventories: Direct materials -0- WIP -0- Finished goods 200 units What is cost of goods sold using variable costing?
Business
1 answer:
Cloud [144]2 years ago
6 0

Answer:

$41,400

Explanation:

Swansea Finishing

Variable cost of goods sold = Variable manufacturing costs × Units Sold

Variable manufacturing costs $23.00

Units sold $1,800

Hence:

$23.00 × 1,800 units

= $41,400

Therefore the cost of goods sold using variable costing is $41,400

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Variable manufacturing overhead incurred was $245,000. Fixed manufacturing overhead incurred was $373,000. Actual machine-hours
steposvetlana [31]

Before information shows is the correct and complete question.

The Lopez Company use a standard costing in its manufacturing plant for the auto part. The standard cost of particular auto part based on a denominator level of a 4.000 output unit per year. included 6 machine-hours of variable manufacturing overhead at $8 per hour and 6 machine-hours of fixed manufacturing overhead at $15 per hour.

Actual output produced was 4.400 units.

Variable manufacturing overhead incurred was $245.000.

Fixed manufacturing overhead incurred was $373.000.

Actual machine-hours were 28.400.

Prepare the analysis of all variable manufacturing overhead and fixed manufacturing overhead variances.

Additional diagram attached to this question is displayed in the first image below.

Answer:

Explanation:

By using a columnar method, the analysis of all the variance & fixed manufacturing overhead varaince can be computed as follows:

Variable manufacturing overhead analysis:

Actual cost Incurred: ║ Actual input ×  Budgeted ║ Allocated: Budgeted

Actual input × Actual     rate                                        Input for actual output

rate                                                                               × Budgeted rate

245000                         28400×$8.00 = 227200      (4400×6hrs×$8)

                                                                                      = 211,200

                17800 U                    16800  U

            Spending Variance      Efficiency Variance

                                      33800 U

                                Flexible Budget Variance

Hence;

The spending Variance = $17,800 U

Efficiency Variance  = $16,000 U

Flexible Budget Varaince = $33800 U

where;   F = Favourable  & U = Unfavourable

<u>For the fixed Manufacturing Overhead:</u>

Actual cost Incurred: ║ Flexible Budget Lump ║ Allocated: Budgeted

Actual input × Actual     sum regardless of the    Input for actual output

rate                                 output level                     × Budgeted rate

                                                                             

373000                        4000×6hrs×15 = 360000  (4400×6hrs×$15)

                                                                                      = 396000

13000 U                                   36000  F

Spending Variance/               Production-Volume

Flexible budgeted variance   Variance

                                                 23000 F

                                        Over allocated fixed

                                        Overhead

Hence;

The spending Variance = $13000 U

The production Volume Variance  = $36,000 F

Over allocated fixed overhead = $23000 F

where;   F = Favourable  & U = Unfavourable

NOTE: To have a better view of the above computation in a table format, refer to the second and the third diagram in the image below.

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Understanding the _____ begins with analysis of market share.
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2 years ago
Refer to the following selected financial information from Marston Company. Compute the company's accounts receivable turnover f
Artyom0805 [142]

Answer:

The correct option is E

Explanation:

The formula to compute the accounts receivable turnover of the company for the Year 2 is as:

Accounts Receivable Turnover = Net Credit Sales / Average Accounts Receivable

where

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And

Average Accounts Receivable is computed as:

Average Accounts Receivable = Accounts receivable Year 1 + Accounts receivable Year 2 / 2

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Putting the values in the above formula:

= $723,000 / $84,625

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Norma-Jean [14]

Answer:

Masters

Explanation:

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The second (next) degree a graduate obtains after the acquisition of a first degree (bachelor degree) is the master's degree. The advantage of a master degree is that, it can be obtained in a different academic field such as science, engineering, education etc.

Hence, some people will obtain a bachelor’s degree with a focus in fashion design. Then to increase their skill set, they may also obtain a masters in a different degree like marketing.

5 0
2 years ago
Read 2 more answers
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