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Question
The Finishing Department transferred out completed units with a cost of $74,000. This transfer should be recorded with the following entry:Finished Goods Inventory"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6. 74,000
Work in Process Inventory, Finishing Dept. 74,000
Answer
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Direct labor X X
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Variable manufacturing overhead
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Direct materials
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Match the following
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Given the following data, calculate product cost per unit under variable costing.
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Direct materials $3 per unit
Overhead
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Total fixed overhead $85,000
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Q:
Tim's Tools, a manufacturer of cordless drills, began operations this year. During this year, the company produced 20,000 units and sold 18,000 units. At year-end the company reported the following income statement using absorption costing:
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Direct labor $2.50 per unit
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What is the Red and White's contribution margin for this month if 980 units were sold?
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Given the Cool Pools Company data, what is net income using absorption costing?
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E. $276,250
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Given the Galaxy, Inc. data, what is net income using absorption costing?
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E. $16,220,000