Data for questions No. 16 through 24 JYD Corporation uses an absorption costing system for internal reporting purposes. At present, however, it is considering to use the variable costing system. Following are some data regarding JYD Corporations budgeted and actual operations for the calendar year 2018. Costs Budgeted Actual Materials P25,200 P23,400 Labor 18,480 17,160 Variable Factory Overhead 8,400 7,800 Fixed Factory Overhead 10,640 10,000 Variable Selling Expenses 16,800 15,000 Fixed Selling Expenses 14,700 14,700 Variable Administrative Expenses 4,200 3,750 Fixed Administrative Expenses 6,300 6,375 Total P104,720 P98,185 Budgeted Actual (Units) (Units) Finished goods inventory beginning 280 280 Production 1,120 1,040 Sales 1,120 1,000 The budgeted costs were computed based on the budgeted production and sales of 1,120 units, the companys normal capacity level. The Corporation uses a predetermined factory overhead rate for applying manufacturing overhead costs to its product. The denominator level used in developing the predetermined rate is the firms normal capacity. Any over or under applied factory overhead cost is closed to cost of goods sold at the end of the year. There is no work in process inventories at either the beginning or end of the year. The actual selling price was the same as the amount planned, P130 per unit. The previous years planned per unit manufacturing costs were the same as the current planned unit manufacturing cost. The beginning inventory of finished goods for absorption costing purposes was valued at such per- unit manufacturing cost.

Questions:

1. What is the standard product costs per unit under Absorption Costing and Variable Costing?

2. What are the manufacturing cost variances for Variable Manufacturing Cost and Fixed Manufacturing cost?

3. What is the Corporations operating income (loss) under both the absorption and variable costing methods?

4. What were the values of the companys actual ending finished goods inventory under the absorption and variable costing methods?

5. What were the Corporations total fixed costs expensed this year on both absorption and variable costing methods?

6. What was the Corporations actual manufacturing contribution margin for the year calculated on the variable costing basis?

7. What was the Corporations actual contribution margin for the year calculated on the variable costing method?

8. What were the total variable costs expensed currently by the corporation under the absorption and variable costing bases?

9. The difference between the Corporations operating income calculated on the absorption costing basis and that on the variable costing basis was how much?

Data for questions No. 16 through 24 JD Corporation uses an absorption costing system for internal reporting purposes. At present, however, it is considering to use the variable costing system Following are some cats regarding ID Corporation's budgeted and actual perations for the calendar year 2015 P23,400 Facts Materials Labor Variable Factory Overhead Fixed Factory Overhead Usisihi Geling w e Faved Selling Expenses Variable Al i ve E Fixed Administrative Expenses Total Redged P25,200 184 2.400 10,640 16 14.709 4,200 6.300 PANTO 7,800 10,000 15. 14,700 Budgeted Finished goods inventory beginning Production Sales 280 1. 120 1. 120 Actual ( US) 20 1040 1.000 The budgeted casts were computed based on the budgeted production and sales of 1.120 units, the company's normal capacity level. The Corporation uses a predetermined factory overhead rate for applying manufacturing overhead costs to its product. The denominator level used in developing the predeterminad rate is the firm's normal capacity. Any aver or under applied factory overhead cost is closed to cost of goods sold at the end of the year. There is a work in process inventories at either the beginning or end of the year. The actual selling price was the same as the amount planned, P130 per unit. The previous year's planned per unit manufacturing costs were the same as the current planned unit manufacturing coct. The beginning watory of finished goede forabcarption costing purposes was valued at such per unit manufacturing cost. 1. What is the standard product casts per unit under Absorption Costing and Variable Costing? 2. What are the manufacturing cast variances for Variable Manufacturing Cost and Fixed Lanseturingueet? 3. What is the Corporation's operating income foss under both the absorption and variable What were the uslues of the company's setuslending in the goods inventory under the absorption and variable costing methods? 5. What were the Corporation's tatal fed costs espersed this year on both absorption and variable costing methods? G. What was the Corporation's stul manufacturing contribution margin for the year calculated