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Question
Williams Co. operates three separate departments (R, S, T). The data below is provided for the current year:Total Sales"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6... $120,000 ($40,000 from each department)
Cost of Goods Sold"u00a6"u00a6"u00a6"u00a6. $ 80,000 (50% from R; 25% from S; 25% from T)
Direct Expense"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6 $ 26,000 ($6,000 from R; $12,000 from S; $8,000 from T)
Indirect Expenses"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6 $ 9,000
Required:
Prepare an income statement showing the departmental contributions to overhead for the current year.
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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A. $7 per unit
B. $13.30 per unit
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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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Cost of goods sold (18,000 $14) 252,000
Gross margin $288,000
Selling and administrative expenses 90,000
Net income $198,000
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A. $307,800
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Q:
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Sales price $33 per unit
Direct materials $1.50 per unit
Direct labor $2.50 per unit
Variable overhead $3.50 per unit
Fixed overhead $234,000 in total
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Q:
What is the Red and White's contribution margin for this month if 980 units were sold?
A. $38,000
B. $18,620
C. $24,500
D. $50,000
E. $21,560
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Given the Cool Pools Company data, what is net income using absorption costing?
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B. $1,648,600
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E. $1,708,600
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B. $181,250
C. $150,000
D. $177,600
E. $276,250
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Given the Galaxy, Inc. data, what is net income using absorption costing?
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B. $17,400,000
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D. $16,800,000
E. $16,220,000