Answer:
1. There are 2,600 units in ending inventory.
2. Costs per unit under absorption costing $ 123
3.Value of ending inventory $ 319,800
Explanation:
Calculation of Ending inventory units.
Ending Inventory Units : Opening Units + Units produced - units sold
300 + 15,000 - 12700 = 2,600 units
Calculation of per unit cost under absorption costing
Under absorption costing, direct manufacturing costs as well as indirect factory overheads are considered.
Per units costs
Direct Materials $ 20
Direct Labour $ 60
Variable overhead $ 13
Fixed Overhead $ 30
Total costs per unit $ 123 under absorption costing
Calculation of ending inventory under absorption costing
The ending inventory calculated earlier of 2.600 units is multiplied by the per unit costs of $ 123 per unit to get the value of the ending inventory
$123 * 2600 units = $ 319,800
$180
if 1/6=30, then we have to figure out 6/6. 1x6=6 so multiply 30 times 6. 180
Answer:
Which of the following statements is CORRECT?
a. Operating income is derived from the firm's regular core business. Operating income is calculated as Revenues less Operating costs. Operating costs do not include interest or taxes.
Explanation:
Operating income is an accounting figure that measures the amount of profit realized from a business's operations, after deducting operating expenses such as wages, depreciation, and cost of goods sold (COGS).
Answer:
The answer is b. job order and process cost systems.
Explanation:
There are two main cost accounting systems; the job order costing and the process costing. Job order costing is a cost accounting system that accumulates manufacturing costs separately for each job whereas Process costing is a cost accounting system that accumulates manufacturing costs separately for each process.