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

Beginning inventory 110units

Units produced 760units

Units sold 809units

Selling price $160/unit

Direct materials $36/unit

Direct labor $17/unit

Variable manufacturing overhead $16/unit

Fixed manufacturing overhead $25,080/year

Variable selling/administrative costs $9/unit

Fixed selling/administrative costs$16,500/year

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

2-

Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units produced this year33,000 units

Units sold this year19,800 units

Direct materials $17 per unit

Direct labor $19 per unit

Variable overhead $3 per unit

Fixed overhead $165,000 in total

Given Advanced Company's data, and the knowledge that the product is sold for $64 per unit and operating expenses are $280,000, compute the net income under absorption costing.

3-

Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units produced this year33,000 units

Units sold this year19,800 units

Direct materials$17 per unit

Direct labor $19 per unit

Variable overhead $3 per unit

Fixed overhead$165,000 in total

Given Advanced Company's data, and the knowledge that the product is sold for $64 per unit and operating expenses are $280,000, compute the net income under variable costing.

4- Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following.

Fixed BudgetSales (16,000 units $211 per unit)$3,376,000Cost of goods soldDirect materials$384,000Direct labor704,000Production supplies448,000Plant manager salary184,0001,720,000Gross profit1,656,000Selling expensesSales commissions128,000Packaging240,000Advertising100,000468,000Administrative expensesAdministrative salaries234,000Depreciationoffice equip.204,000Insurance174,000Office rent184,000796,000Income from operations$392,000

(1)Compute the total variable cost per unit.

(2)Compute the total fixed costs.

(3)Compute the income from operations for sales volume of 14,000 units.

(4)Compute the income from operations for sales volume of 18,000 units.

5- Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results.

BudgetedActualSales$1,100per unit$1,753,000Variable expenses$440per unit$694,000Fixed expenses (total)$149,000$138,000Units produced and sold1,3601,560

List variable and fixed expenses separately.(Indicate the effect of each variance by selectingfor favorable, unfavorable, and no variance)