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Juli2301 [7.4K]
2 years ago
11

On March 31, the end of the first year of operations, Barnard Inc., manufactured 4,300 units and sold 3,700 units. The following

income statement was prepared, based on the variable costing concept: Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales $888,000 Variable cost of goods sold: Variable cost of goods manufactured $494,500 Inventory, March 31 (69,000) Total variable cost of goods sold (425,500) Manufacturing margin $462,500 Total variable selling and administrative expenses (107,300) Contribution margin $355,200 Fixed costs: Fixed manufacturing costs $227,900 Fixed selling and administrative expenses 70,300 Total fixed costs (298,200) Operating income $57,000 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing $ Absorption costing $
Business
1 answer:
wolverine [178]2 years ago
6 0

Answer:

Cost of Goods Manufactured  = $115 per unit

Fixed Manufacturing Overhead = $53 per unit

Absorption product cost per unit = $168

Explanation:

given data

manufactured =  4,300 units

Variable Costing = $494,500

Fixed manufacturing costs  = $227,900

solution

so here we get Cost of Goods Manufactured per unit that is

Cost of Goods Manufactured = $494,500 ÷ 4,300

Cost of Goods Manufactured  = $115 per unit

and

now we get Fixed Manufacturing Overhead Per Unit will be

Fixed Manufacturing Overhead = $227,900 ÷ 4,300  

Fixed Manufacturing Overhead = $53 per unit

and

now we get Variable Product cost Per Unit that is

Variable Product cost   = Cost of Goods Manufactured per Unit = $115

so

Absorption product cost per unit = $115  + $53

Absorption product cost per unit = $168

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Answer:

Explanation:

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Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the follo
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Answer:

Prime costs= $480,000

Explanation:

Giving the following information:

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To calculate the prime costs we need to use the following formula:

Prime costs= direct material + direct labor

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8 0
3 years ago
Elston Company compiled the following information as of December 31, 2014:Service Revenue $700,000Common Stock $150,000Equipment
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Answer:

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Explanation:

For computing the stockholder equity, first, we have to find out the ending retained earning balance which equals to

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= $375,000 + $75,000 - $50,000

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Net income = Service revenue - operating expenses

                   = $700,000 - $625,000

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Now the stockholder equity equals to

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= $550,000

6 0
3 years ago
Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows.Jan. 2 Invest
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Answer:

Answer:

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Jan 2     Asset                     Cash                                 Increase     Debit

             Equity                    Common Stock                Increase     Credit

Jan 3     Asset                     Motor Car                         Increase     Debit

             Asset                     Cash                                 Decrease   Debit

Jan 9    Asset                     Supplies                            Increase     Debit

            Liability                  Trade Payable                  Increase     Credit

Jan 11   Equity                     Service Revenue              Increase     Credit

            Asset                      Trade Receivable             Increase     Debit

Jan 16  Asset                      Cash                                  Decrease    Debit

            Equity                     Advertising                       Decrease     Credit

Jan 20 Asset                     Cash                                   Increase       Debit

           Asset                      Trade Receivable              Decrease     Debit

Jan 23 Asset                     Cash                                    Decrease     Debit

           Liability                  Trade Payable                    Decrease     Credit

Jan 28 Equity                   Dividend Payable                Decrease     Credit

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Explanation:

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Income and Expense are subset of equity account. Hence any item relating to them will be categorized under equity.

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erik [133]

Answer:

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Explanation:

The given function is

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where, f(x) is the total revenue at price x.

We need to find the price x at which the weekly revenue is maximum.

The leading coefficient of the given function is -300, which is a negative number. So, it is a downward parabola and vertex of a downward parabola is the the point of maxima.

If a parabola is defined as

g(x)=ax^2+bx+c           ... (2)

then the vertex of the function is

(-\frac{b}{2a},g(-\frac{b}{2a}))

From (1) and (2) it is clear that

a=-300,b=1000, c=0

The given function is maximum at

-\frac{b}{2a}=-\frac{1000}{2(-300)}

-\frac{b}{2a}=\frac{10}{6}

-\frac{b}{2a}=1.66667

-\frac{b}{2a}\approx 1.67

Therefore the weekly revenue is maximum at x=1.67.

4 0
3 years ago
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