Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HELP!!! WT Chapter 6 Homework Save & Exit Su Check my we 3 6.68 point Variable manufacturing overhead $ 1.90 Variable selling and administrative Required:

image text in transcribed
image text in transcribed
HELP!!!
WT Chapter 6 Homework Save & Exit Su Check my we 3 6.68 point Variable manufacturing overhead $ 1.90 Variable selling and administrative Required: 1. Complete the following: a Compute the unit product cost under absorption costing, b. What is the company's absorption costing net operating income (oss) for the quarter? c. Reconcile the variable and absorption costing net operating income foss) figures. 3. During the second quarter of operations, the company again produced 31700 units but sold 34700 units. Assume no change in total fixed costs) a. What is the company's variable costing net operating income (oss) for the second quarter? b. What is the company's absorption costing net operating income foss) for the second quarter? c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter 02:19:20 elence Complete this question by entering your answers in the tabs below. Reg 1 Reg 16 Req 1C Reg 3 Reg 38 Reg 30 Compute the unit product cost under absorption costing. (Round your answer to 2 decimal places) Unit product cont Reg 1B Check my work 3 LUD-4, LU6-3) 6.68 Tami Tyler Opened Tami's Creations, Incorporated, a small manufacturing company at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting of State University The Creaton Thomported Tre stat for the arter ended 31 Bien (28,TO) 1140.000 Variable experts Variable contot go si 5470,640 Variable selling and strative Contribution in 100.110 $51.490 496,510 Tired expenses Pied manufacturing overhead 285,100 Fixed Wallis and drive 224,210 310.00 Wet operating on 113,5001 Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank in Another friend, a CPA insists that the company should be using absorption costing rather than variable costing and negues that it absorption costing had been used the company probably would have reported at least some profit for the quarter At this point, Ms. Tyler is manufacturing only one product-a swimsuit Production and cost data relating to the swimsuit for the first quarter follow units produced 31.700 unite sold 20.700 Variable costs penis Direct waterials 3.7.30 Direct labor 7.40 Variable manufacturing overhed 51.70 Varile selling and administrative 16.30 Required: em WT Chapter 6 Homework Save & Exit Su Check my we 3 6.68 point Variable manufacturing overhead $ 1.90 Variable selling and administrative Required: 1. Complete the following: a Compute the unit product cost under absorption costing, b. What is the company's absorption costing net operating income (oss) for the quarter? c. Reconcile the variable and absorption costing net operating income foss) figures. 3. During the second quarter of operations, the company again produced 31700 units but sold 34700 units. Assume no change in total fixed costs) a. What is the company's variable costing net operating income (oss) for the second quarter? b. What is the company's absorption costing net operating income foss) for the second quarter? c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter 02:19:20 elence Complete this question by entering your answers in the tabs below. Reg 1 Reg 16 Req 1C Reg 3 Reg 38 Reg 30 Compute the unit product cost under absorption costing. (Round your answer to 2 decimal places) Unit product cont Reg 1B Check my work 3 LUD-4, LU6-3) 6.68 Tami Tyler Opened Tami's Creations, Incorporated, a small manufacturing company at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for the first quarter was prepared by a friend who has just completed a course in managerial accounting of State University The Creaton Thomported Tre stat for the arter ended 31 Bien (28,TO) 1140.000 Variable experts Variable contot go si 5470,640 Variable selling and strative Contribution in 100.110 $51.490 496,510 Tired expenses Pied manufacturing overhead 285,100 Fixed Wallis and drive 224,210 310.00 Wet operating on 113,5001 Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support for a bank in Another friend, a CPA insists that the company should be using absorption costing rather than variable costing and negues that it absorption costing had been used the company probably would have reported at least some profit for the quarter At this point, Ms. Tyler is manufacturing only one product-a swimsuit Production and cost data relating to the swimsuit for the first quarter follow units produced 31.700 unite sold 20.700 Variable costs penis Direct waterials 3.7.30 Direct labor 7.40 Variable manufacturing overhed 51.70 Varile selling and administrative 16.30 Required: em

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

Payroll Fraud Detection And Prevention Audit Expert System

Authors: Titus Oniyilo

1st Edition

136564345X, 978-1365643453

More Books

Students also viewed these Accounting questions