Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1-At EOM Inc., the beginning inventory is 20,000 units. All of the units manufactured during the period and 16,000 units of the beginning inventory were

1-At EOM Inc., the beginning inventory is 20,000 units. All of the units manufactured during the period and 16,000 units of the beginning inventory were sold. The beginning inventory fixed costs are $50 per unit, and variable costs are $300 per unit.

a. Determine whether variable costing operating income is less than or greater than absorption costing operating income.

b. Determine the difference in variable costing and absorption operating income.

image text in transcribed

2-Department S had 500 units 63% completed in process at the beginning of the period, 8,500 units completed during the period, and 900 units 32% completed at the end of the period. What was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost.

image text in transcribed

At EOM Inc., the beginning inventory is 20,000 units. All of the units manufactured during the period and 16,000 units of the beginning inventory were sold. The beginning inventory fixed costs are $50 per unit, and variable costs are $300 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption operating income. Department Shad 500 units 63% completed in process at the beginning of the period, 8,500 units completed during the period, and 900 units 32% completed at the end of the period. What was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost. a. 9,373 b. 8,473 c. 8,185 d. 8,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Benefit Analysis With Reference To Environment And Ecology

Authors: James H. Meisel, K. Puttaswamaiah

1st Edition

1138521329, 978-1138521322

More Books

Students also viewed these Accounting questions

Question

Discuss the use of third-wave therapies in psychotherapy practice.

Answered: 1 week ago

Question

=+3. Who are the brand's competitors?

Answered: 1 week ago

Question

11.7 Discuss competency-based pay.

Answered: 1 week ago