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1.

Given Advanced Company's data, and the knowledge that the product is sold for $48 per unit and operating expenses are $240,000, compute the net income under variable costing.

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

Units produced this year	30,000 units
Units sold this year	18,000 units
Direct materials	$ 5.00 per unit
Direct labor	$ 6.00 per unit
Variable overhead	$ 90,000 in total
Fixed overhead	$ 150,000 in total

$426,000

$222,000

$90,000

$282,000

$372,000

2.

Chance, Inc. sold 3,700 units of its product at a price of $82.5 per unit. Total variable cost per unit is $59, consisting of $34.1 in variable production cost and $25 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.

$126,170

$85,470

$179,080

$305,250

($134,310)

3.

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

Units produced this year	100,000 units
Units sold this year	60,000 units
Direct materials	$ 8.50 per unit
Direct labor	$ 9.50 per unit
Variable overhead	$ 650,000 in total
Fixed overhead	$ 850,000 in total

Given Advanced Company's data, compute cost of finished goods in inventory under variable costing.

rev: 11_12_2013_QC_39733

$720,000

$1,320,000

$980,000

$984,000

$1,153,200

4.

Assume a company sells a given product for $119 per unit. How many units must be sold to break-even if variable selling costs are $23 per unit, variable production costs are $34 per unit, and total fixed costs are $1,119,100?

10,174 units.

13,166 units.

18,050 units.

9,404 units.

11,657 units.

5.

Shore Company reports the following information regarding its production cost.

Units produced	33,500 units
Direct labor	$ 25.75 per unit
Direct materials	$ 26.75 per unit
Variable overhead	$ 519,250 in total
Fixed overhead	$ 117,250 in total

Compute production cost per unit under absorption costing.

$25.75

$52.50

$68.00

$71.50

$15.50

6.

Gage Company reports the following information for its first year of operations:

Unit produced this year	4,200 units
Unit sold this year	3,700 units
Direct materials	$6 unit
Direct labor	$14 unit
Variable overhead	? in total
Fixed overhead	$33,600 in total

If the company's cost per unit of finished goods using variable costing is $33, what is total variable overhead?

$19,400

$48,100

$54,600

$18,500

$33,596

7.

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

Units produced this year	90,000 units
Units sold this year	54,000 units
Direct materials	$ 8.00 per unit
Direct labor	$ 9.00 per unit
Variable overhead	$ 540,000 in total
Fixed overhead	$ 720,000 in total

Given Advanced Company's data, compute cost per unit of finished goods under absorption costing.

$27.00

$17.00

$35.00

$39.00

$31.00

8.

Romtech Company sold 36,000 units of its product at a price of $1,150 per unit. Total variable cost per unit is $600, consisting of $576 in variable production cost and $24 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.

$19,800,000

$20,664,000

$40,536,000

$41,400,000

$21,600,000

9.

Under absorption costing, a company had the following unit costs when 13,000 units were produced.

Direct labor	$ 11.00 per unit
Direct material	$ 11.50 per unit
Variable overhead	$ 9.25 per unit
Fixed overhead ($162,500 / 13,000 units)	$ 12.50 per unit
Total production cost	$ 44.25 per unit

Compute the total production cost per unit under variable costing if 54,100 units had been produced.

$31.75

$34.75

$44.25

$33.75

$22.50

10.

Sea Company reports the following information regarding its production cost.

Units produced	47,000 units
Direct labor	$ 41.50 per unit
Direct materials	$ 31.25 per unit
Variable overhead	$ 20.25 per unit
Fixed overhead	$ 223,250 in total

Compute production cost per unit under variable costing.

$72.75

$31.25

$93.00

$41.50

$97.75