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KATRIN_1 [288]
2 years ago
6

The following cost behavior patterns describe anticipated manufacturing costs for 2019: raw material, $7.50/unit; direct labor,

$10.50/unit; and manufacturing overhead, $297,500 $8.50/unit. Required: If anticipated production for 2019 is 35,000 units, calculate the unit cost using variable costing and absorption costing. (Round your answers to 2 decimal places.)
Business
1 answer:
kykrilka [37]2 years ago
3 0

Answer:

                                         Unit cost

                                                $

Variable costing                    18

Absorption costing               26.5

Explanation:

<em>Variable costing values every unit produced at the marginal cost</em>. Marginal cost is the sum of direct material, direct labor and variable overhead.

Marginal cost = 7.50 + 10.50 =$18

<em>Absorption costing values every unit at full cost</em>. Full cost is the sum of marginal and fixed overhead cost per unit,

Fixed overhead cost per unit =  $297,500/35,000=8.5

Full cost = 7.50 + 10.50 + 8.50= $26.5

                                     Unit cost

                                                $

Variable costing                    18

Absorption costing               26.5

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3 years ago
Outdoor Expo provides guided fishing tours. The company charges $300 per person but offers a 20% discount to parties of four or
Simora [160]

Answer:

May 2  No entry is required as the transaction is yet to happen

May 7  DR Accounts Receivable                                       $1,200

                 CR Tour Revenue                                                           $1,200

May 9  DR No entry required

May 15  DR Sales Allowance (1,200 * 30%)                        $360

                    CR Accounts Receivable                                             $360

May 20  DR Cash                                                             $789.60

              DR Sales Discount                                              $50.40

                    CR Accounts Receivable                                            $840

Working

Accounts Receivable = 1,200 - 360 sales allowance = $840

Sales Discount = 840 * 6% discount = $50.40

Cash = 840 - 50.40 = $789.60

b. Net Revenues

=  Revenue - Sales allowance - Sales discount

= 1,200 - 360 - 50.40

= $789,60

c. Partial Income Statement

Tour Revenues                                                         $1,200

Less:

Sales Allowance                                   $360

Sales Discount                                   <u> $50.60 </u>    

                                                                             <u>  ($410.60)</u>

Net Tour Revenue                                                 $789.40

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Answer:

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