1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
amid [387]
3 years ago
8

Sprinkle Co. sells its product for $60 per unit. During 2016, it produced 60,000 units and sold 50,000 units (there was no begin

ning inventory). Costs per unit are: direct materials $15, direct labor $9, and variable overhead $3. Fixed costs are: $720,000 manufacturing overhead, and $90,000 selling and administrative expenses.
103. The per unit manufacturing cost under absorption costing is

C) $39104. The per unit manufacturing cost under variable costing is
b. $27.
105. Cost of goods sold under absorption costing is
c. $1,950,000.
106. Ending inventory under variable costing is
a. $270,000.
107. Under absorption costing, what amount of fixed overhead is deferred to a future period?
b. $120,000
Business
1 answer:
Gelneren [198K]3 years ago
4 0

Answer:

The answers are shown below:

Explanation:

The computations are shown below:

103. The per unit manufacturing cost under absorption costing is

= Variable Cost per Unit + Fixed Cost Per Unit  

where,

Variable cost per unit is

= $15 + $9 + $3

= $27

And, the fixed cost per unit is

= $720,000 ÷ 60,000 units

= $12

So, the per unit is

= $27+ $12

= $39

104 The per unit manufacturing cost under variable costing is

Total Variable Cost per Unit = $ 27  

105 Cost of goods sold under absorption costing is

= Units Sold × cost per unit

= 50,000 units × $39

= $1,950,000

106 Ending inventory under variable costing is  

= Variable Cost per unit × Unsold Units  

= $27 × (60,000 units - 50,000 units)  

= $270,000  

107 The fixed overhead cost is

= Unsold Units × Fixed Cost Per Unit

= 10,000 units × $12

= $120,000

You might be interested in
The before-tax income for Ivanhoe Co. for 2020 was $104,000 and $81,200 for 2021. However, the accountant noted that the followi
Brilliant_brown [7]

Answer:

<em>Corrected Income for 2020 is $ 86540 and for 2021 is $160,610 </em>

Explanation:

Ivanhoe Co.

Correction of Income for              2020             2021

The before-tax income                $104,000      $81,200

1) Sales                                             (39,000)         39000

2) Inventory                                      (9,400)            9,400

3) Entry  wrongly made                    14,400           14,400

4) Correct Entry                                15,680           15,680

5<u>) Add Depreciation                           860               930</u>

<u>Corrected Income                       $ 86540         $ 160,610   </u>

<u></u>

1) Sales are included when the purchaser gets the title . They are the liability of the seller so they will be deducted from 2020 sales and added to 2021.

2) Ending inventory is deducted from COGS as it is understated it will be deducted from 2020 income and added to the 2021 income when it becomes the opening inventory.

3) Interest was received not given so the it will be treated as revenue not expense and added to the income statement.

4) Actual interest received  was ($ 240,000- $16,000)* 7% = $ 15680. So an entry for actual interest will be made.

5) Additional amount of depreciation was charged to 2020 and 2021 income statement  which will be added back. 10 % of $ 8600= $ 860 for 2020 and 10% of $ 9,300= $ 930 for 2021

5 0
3 years ago
Candice is a jewelry shop owner, specializing in beaded necklaces. For each of the following inputs, classify each item as a var
Valentin [98]

Answer:

Fixed Inputs : ii , iii , vi , vii

Variable Inputs : i , iv , v

Explanation:

Short run is a period in which few factors (inputs) of business can be changed. Fixed Inputs are inputs of the business which are constant in short run.  Variable Inputs are inputs of business which are change-able in short run.

Fixed Inputs : Chairs , Upper Management Salary, Computers , 2 Years lease on office & rental space. As, these can't be changed in short run.

Variable Inputs : Shipping , Beads , Hourly Labour. As, these can be changed in short run.

6 0
2 years ago
A computer company salesperson invites the IT managers of its top 10 customers (in terms of dollar sales) to view a demonstratio
zaharov [31]

Answer:

E. influencers

Explanation:

8 0
2 years ago
The directors of​ x-lam inc., a manufacturer of electric water​ heaters, meet to discuss ways to increase their net profit. they
Greeley [361]
This investment is an example of​ a managerial decision. This process is done to aid the executives to be able to make the best possible decision that is needed by the business at that certain point of time. There are five steps that is involved in a managerial decision making. First would be establishing what is the main objective of the business. Then, like any other decision process, defining the problem and its the nature at that certain time is next. The third step would be listing all possible solutions present. Then, evaluating each possible solution listed. Listing all pros and cons would be recommended. In this step, we look at which would be the most favorable solution. The last step would be the implementation of the solution chosen. 
5 0
2 years ago
What are the two principal animal research regulatory documents used by the public health service?
BARSIC [14]
<span>"Public Health Service Policy on Humane Care and Use of Laboratory Animals" by the US Deparment of Health and Human Services; and "Guide for the Care and Use of Laboratory Animals" by the National Research Council of the National Academies.</span>
6 0
3 years ago
Other questions:
  • Below are several amounts reported at the end of the year. Currency located at the company $ 675 Supplies 1,700 Short-term inves
    9·1 answer
  • Which is not a trade-off for students who spend a semester abroad? seeing friends from home daily eating all of their favorite f
    5·2 answers
  • A manager engaged in the management function of ____ is determining organizational goals and the means for achieving them.a. pla
    8·1 answer
  • England has a relatively cool and cloudy climate that is ill suited for grape growing. It can produce 200 units of wine for ever
    14·1 answer
  • A factory can produce cars and trucks. If the price of cars increases, then the supply of trucks will
    5·1 answer
  • Ben and Jerry were currently both producing at point A on their production possibilities frontier and then Ben decided he would
    13·1 answer
  • What other considerations do manufacturers have when deciding on the dimensions of the cans, besides minimizing the amount of ma
    13·1 answer
  • Which individual spurred freud’s interest in the unconscious mind?.
    14·1 answer
  • A company has net sales of $852,000 and cost of goods sold of $565,000. its net income is $101,800. the company's gross profit a
    8·1 answer
  • cash equivalents: multiple choice are readily convertible to a known cash amount. include investments due in twenty months. incl
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!