Question
Sea Company reports the following information regarding its production cost. Units produced 54,000 units Direct labor $ 47 per unit Direct materials $ 40 per
Sea Company reports the following information regarding its production cost.
| Units produced | 54,000 | units | |
| Direct labor | $ | 47 | per unit |
| Direct materials | $ | 40 | per unit |
| Variable overhead | $ | 29 | per unit |
| Fixed overhead | $ | 117,000 | in total |
Compute the product cost per unit under variable costing.
Multiple Choice
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$40.00
-
$118.17
-
$116.00
-
$87.00
-
$47.00
Urban Company reports the following information regarding its production cost:
| Units produced | 32,000 | units | |
| Direct labor | $ | 25 | per unit |
| Direct materials | $ | 30 | per unit |
| Variable overhead | $ | 232,000 | in total |
| Fixed overhead | $ | 122,000 | in total |
Compute production cost per unit under variable costing.
Multiple Choice
-
$30.00
-
$58.81
-
$62.25
-
$25.00
-
$55.00
Geneva Co. reports the following information for July:
| Sales | $ | 774,000 | |
| Variable costs | 233,000 | ||
| Fixed costs | 108,000 | ||
Calculate the contribution margin for July.
Multiple Choice
-
$541,000
-
$433,000
-
$666,000
-
$774,000
Brush Industries reports the following information for May:
| Sales | $ | 950,000 | |
| Fixed cost of goods sold | 110,000 | ||
| Variable cost of goods sold | 260,000 | ||
| Fixed selling and administrative costs | 110,000 | ||
| Variable selling and administrative costs | 135,000 | ||
Calculate the gross margin for May under absorption costing.
Multiple Choice
-
$690,000
-
$355,000
-
$575,000
-
$580,000
Sea Company reports the following information regarding its production costs:
| Units produced | 46,000 | units | |
| Direct labor | $ | 39 | per unit |
| Direct materials | $ | 32 | per unit |
| Variable overhead | $ | 21 | per unit |
| Fixed overhead | $ | 115,000 | in total |
Compute the product cost per unit under absorption costing.
Multiple Choice
-
$32.00
-
$94.50
-
$92.00
-
$71.00
-
$39.00
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Management Accounting Principles And Applications
Authors: Hugh Coombs, D Ellis Jenkins, David Hobbs
1st Edition
1412908434, 978-1412908436
