Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

David Company operating result under absorption costing below: 2019 Sales $ 270,000 Cost of goods sold (variable and fixed) 180.000 Gross profit. $90,000 Selling and

image text in transcribed
David Company operating result under absorption costing below: 2019 Sales $ 270,000 Cost of goods sold (variable and fixed) 180.000 Gross profit. $90,000 Selling and Administrative expenses (variable and 38.000 fixed) Net operating income $52.000 Production and operating activities shown as follows: 2019 2020 Beginning inventory O units Production 20,000 units 30,000 units Sales 18,000 units 23,000 units tao ? The company's selling and variable cost per unit remained constant from year to year. The Company has a total fixed manufacturing overhead of 560,000 and fixed selling and administrative expenses of $20,000 per year. Company uses first-in first-out (FIFO) inventory method. Answer the following from the David Company financial data given above. (Do NOT use "comma or "dollar" signs in your answers). Answer the fall on Determine the amount of the following for year 2020 Answer 1. Unit product cost under variable costing, 2 Unit product cost under absorption costing tao 3. Total cost of goods manufactured under absorption costing 4. Total variable cost of goods sold. 5. Variable selling and administrative expenses per unit. 6. Total variable expenses (manufacturing & non manufacturing) 7. Cost of beginning finished goods inventory under absorption costing 8. Company's net operating income under variable costing 9. Fixed manufacturing overhead cost deferred in the ending inventory 10. Company's net operating income under absorption costing

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_2

Step: 3

blur-text-image_3

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

Using Microsoft Excel And Access 20 For Accounting

Authors: Glenn Owen

5th Edition

133751229X, 9781337512299

More Books

Students also viewed these Accounting questions