Answered step by step
Verified Expert Solution
Question
1 Approved Answer
C. $300,000 D. $353,333 E. $420,000 Nor The difference between sales price per unit and variable cost per unit is the: (Definitional-Showing Work Required) A.
C. $300,000 D. $353,333 E. $420,000 Nor The difference between sales price per unit and variable cost per unit is the: (Definitional-Showing Work Required) A. Gross profit from sales. B. Gross margin per unit. C. Fixed cost per unit. D. Margin of safety per unit. E. Contribution margin per unit. 31. Which of the following statements is true regarding variable costing? (Definitional-Showing Work Not Required) A. It is a traditional costing approach. B. Only manufacturing costs that change in total with changes in production level are included in product costs. C. It is not permitted to be used for managerial reporting. D. It treats overhead in the same manner as absorption costing. E. It makes it easier to manipulate earnings with changes in production levels. 32. Under absorption costing, a company had the following unit costs when 8,000 units were produced. Direct labor Direct material Variable overhead Fixed overhead ($60,000/8,000 units) Total production cost $8.50 per unit $9.00 per unit $6.75 per unit $7.50 per unit $31.75 per unit Compute the total production cost per unit under variable costing if 20,000 units had been produced. (Show work on test paper or separate scanned submission.) A. $31.75 B. $27.25 C. $26.25 D. $24.25 E. $17.50 33. Which of the following best describes costs assigned to the product under the variable costing method? (Definitional-Showing Work Not Required) Direct labor (DL) Direct materials (DM) Variable selling and administrative Variable manufacturing overhead Fixed selling and administrative Fixed manufacturing overhead
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started