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Decko industries reported the following monthly data

05/01/2021 Client: saad24vbs Deadline: 3 days

1


Jeter Corporation had net income of $216,000 based on variable costing. Beginning and ending inventories were 6,400 units and 10,800 units, respectively. Assume the fixed overhead per unit was $6 for both the beginning and ending inventory. What is net income under absorption costing?


Multiple Choice


窗体顶端


·


$242,400


·


$216,000


·


$319,200


·


$268,800


·


$280,800


窗体底端


2


Alexis Co. reported the following information for May:




Part A




Units sold




5,600


units


Selling price per unit


$


860




Variable manufacturing cost per unit




550




Sales commission per unit - Part A




86




What is the manufacturing margin for Part A?


Multiple Choice


窗体顶端


·


$3,080,000


·


$1,254,400


·


$4,334,400


·


$1,736,000


窗体底端


3


Sea Company reports the following information regarding its production cost.










Units produced




56,000


units


Direct labor


$


49


per unit


Direct materials


$


42


per unit


Variable overhead


$


31


per unit


Fixed overhead


$


119,000


in total


  Compute the product cost per unit under variable costing.


Multiple Choice


窗体顶端


·


$124.13


·


$122.00


·


$49.00


·


$91.00


·


$42.00


窗体底端


4


Brush Industries reports the following information for May:










Sales


$


1,000,000




Fixed cost of goods sold




120,000




Variable cost of goods sold




270,000




Fixed selling and administrative costs




120,000




Variable selling and administrative costs




145,000




  Calculate the operating income for May under absorption costing.


Multiple Choice


窗体顶端


·


$585,000


·


$610,000


·


$730,000


·


$345,000


窗体底端


5


Shore Company reports the following information regarding its production cost.










Units produced




31,000


units


Direct labor


$


26


per unit


Direct materials


$


27


per unit


Variable overhead


$


283,000


in total


Fixed overhead


$


97,920


in total


  Compute product cost per unit under absorption costing.


Multiple Choice


窗体顶端


·


$65.29


·


$27.00


·


$62.00


·


$53.00


·


$26.00


窗体底端


6


Accurate Metal Company sold 35,500 units of its product at a price of $320 per unit. Total variable cost per unit is $175, consisting of $166 in variable production cost and $9 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.


Multiple Choice


窗体顶端


·


$6,212,500


·


$6,532,000


·


$5,147,500


·


$11,360,000


·


$5,467,000


窗体底端


7


Decko Industries reported the following monthly data:










Units produced




64,000


units


Sales price


$


45


per unit


Direct materials


$


2.70


per unit


Direct labor


$


3.70


per unit


Variable overhead


$


4.70


per unit


Fixed overhead


$


235,200


in total


  What is the company's contribution margin for this month if 62,000 units were sold?


Multiple Choice


窗体顶端


·


$2,169,600


·


$2,101,800


·


$2,880,000


·


$2,393,200


·


$2,790,000


窗体底端


8


Alexis Co. reported the following information for May:




Part A




Units sold




5,800


units


Selling price per unit


$


950




Variable manufacturing cost per unit




600




Sales commission per unit - Part A




95




  What is the contribution margin for Part A?


Multiple Choice


窗体顶端


·


$2,030,000


·


$1,479,000


·


$3,480,000


·


$4,959,000


窗体底端


9


Given the following data, calculate product cost per unit under absorption costing.










Direct labor


$


13


per unit


Direct materials


$


7


per unit


Overhead








Total variable overhead


$


26,000




Total fixed overhead


$


96,000




Expected units to be produced




46,000


units


Multiple Choice


窗体顶端


·


$24.00 per unit


·


$20.57 per unit


·


$22.09 per unit


·


$22.65 per unit


·


$20.00 per unit


窗体底端


10


Brush Industries reports the following information for May:










Sales


$


960,000




Fixed cost of goods sold




112,000




Variable cost of goods sold




262,000




Fixed selling and administrative costs




112,000




Variable selling and administrative costs




137,000




  Calculate the gross margin for May under absorption costing.


Multiple Choice


窗体顶端


·


$586,000


·


$361,000


·


$585,000


·


$698,000


窗体底端


11


Geneva Co. reports the following information for July:










Sales


$


783,000




Variable costs




236,000




Fixed costs




111,000




Calculate the contribution margin for July.


Multiple Choice


窗体顶端


·


$436,000


·


$672,000


·


$783,000


·


$547,000


窗体底端


12


Kluber, Inc. had net income of $916,000 based on variable costing. Beginning and ending inventories were 56,600 units and 55,200 units, respectively. Assume the fixed overhead per unit was $2.05 for both the beginning and ending inventory. What is net income under absorption costing?


Multiple Choice


窗体顶端


·


$801,405


·


$910,260


·


$1,030,595


·


$913,130


·


$916,000


窗体底端


13


During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $6 per unit, Direct labor, $4 per unit, Variable overhead, $5 per unit, and Fixed overhead, $234,000. The company produced 26,000 units, and sold 18,000 units, leaving 8,000 units in inventory at year-end. What is the value of ending inventory under variable costing?


Multiple Choice


窗体顶端


·


$120,000


·


$234,000


·


$72,000


·


$192,000


窗体底端


14


Hayes Inc. provided the following information for the current year:










Beginning inventory




120


units


Units produced




770


units


Units sold




813


units


Selling price


$


170


/unit


Direct materials


$


37


/unit


Direct labor


$


18


/unit


Variable manufacturing overhead


$


17


/unit


Fixed manufacturing overhead


$


26,180


/yr


Variable selling/administrative costs


$


10


/unit


Fixed selling/administrative costs


$


17,500


/yr


  What is the unit product cost for the year using absorption costing?


Multiple Choice


窗体顶端


·


$106


·


$104


·


$82


·


$72


窗体底端


15


Urban Company reports the following information regarding its production cost:










Units produced




33,000


units


Direct labor


$


26


per unit


Direct materials


$


31


per unit


Variable overhead


$


233,000


in total


Fixed overhead


$


123,000


in total


  Compute production cost per unit under variable costing.


Multiple Choice


窗体顶端


·


$57.00


·


$60.73


·


$64.06


·


$26.00


·


$31.00


窗体底端


16


During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $189,000. The company produced 21,000 units, and sold 15,500 units, leaving 5,500 units in inventory at year-end. What is the value of ending inventory under absorption costing?


Multiple Choice


窗体顶端


·


$49,500


·


$115,500


·


$189,000


·


$66,000


窗体底端


17


Hayes Inc. provided the following information for the current year:










Beginning inventory




250


units


Units produced




900


units


Units sold




957


units


Selling price


$


300


/unit


Direct materials


$


50


/unit


Direct labor


$


31


/unit


Variable manufacturing overhead


$


30


/unit


Fixed manufacturing overhead


$


42,300


/yr


Variable selling/administrative costs


$


23


/unit


Fixed selling/administrative costs


$


30,500


/yr


  What is the unit product cost for the year using variable costing?


Multiple Choice


窗体顶端


·


$111


·


$134


·


$158


·


$202


窗体底端


18


Chance, Inc. sold 5,000 units of its product at a price of $172 per unit. Total variable cost per unit is $131, consisting of $92 in variable production cost and $39 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.


Multiple Choice


窗体顶端


·


$400,000


·


($450,000)


·


$460,000


·


$860,000


·


$655,000


窗体底端


19

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