Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please do it in 45 minutes please urgently... I'll give you up thumb definitely Question 3 A manufacturing company produces and sells Product A. Cost

image text in transcribed

image text in transcribed

please do it in 45 minutes please urgently... I'll give you up thumb definitely

Question 3 A manufacturing company produces and sells Product A. Cost and sales data for the first month of operations pertaining the product are shown below:- Manufacturing costs Fixed overhead Variable overhead Direct labour Direct material RM 200,000 3 per unit 2 per unit 30 per unit Units in beginning inventory Units produced Units sold 0 15,000 11,000 Selling and administrative costs Fixed overhead Variable overhead RM 150,000 4 per unit The product sells for RM120 per unit. Fixed manufacturing overhead is absorbed based on production output units. The production manager is concerned with the opening month's results and has asked for an income statement. Find Jan. - Apr. 2022 Required: (8) Calculate the production cost per unit and prepare an income statement for the first (10 marks) month of operations using absorption costing. 6) Calculate the production cost per unit and prepare an income statement for the first month of operations using marginal costing. (10 marks) (c) Explain why the profits in parts (a) and (b) are different. (5 marks) [Total: 25 Marks]

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

More Books

Students also viewed these Finance questions

Question

For living, I require money.

Answered: 1 week ago

Question

They did not find sufficient evidence for believing in the future.

Answered: 1 week ago