What is the unit product cost for the month

Assignment Help Managerial Accounting
Reference no: EM13300252

Maga Company, which has only one product, has provided the following data concerning its most recent month of operations:




Selling price $ 190



Units in beginning inventory
0
Units produced
3,280
Units sold
3,170
Units in ending inventory
110



Variable cost per unit:

Direct materials $ 49
Direct labor $ 53
Variable manufacturing overhead $ 15
Variable selling and administrative $ 18
Fixed costs:

Fixed manufacturing overhead $ 101,680
Fixed selling and administrative $ 12,680

Required:

a. What is the unit product cost for the month under variable costing?

b. What is the unit product cost for the month under absorption costing?

c. Prepare a contribution format income statement for the month using variable costing.

d. Prepare an income statement for the month using absorption costing.

e. Reconcile the variable costing and absorption costing net operating incomes for the month.

Reference no: EM13300252

Questions Cloud

Explain what is the concentration of the dye mix : Can't make it work. You have 0.035 +/- 0.002 mol of red dye, which you mix (thoroughly) with 25.00 +/- 0.05 mL of water. What is the concentration of the dye mix .001400 +/- .000008 M
Design square column footing for in square tied interior : Design a square column footing for a 18-in square tied interior column that supports a dead load D= 220 k and a live load L=180 k. The column isreinforced with eight bars, the base of the footing is 4 ft below grade
What you think multicultural education : Tell me what you think multicultural education is. How do you implement multicultural education in your classroom? Tell me why you think there is or is not a need for Multicultural Education classes for teachers. Describe the training you have receiv..
Determine the total moment of inertia : Consider a merry-go-round that has the form of a disc with radius 5.5 m and mass 130 kg. what is the total moment of inertia
What is the unit product cost for the month : What is the unit product cost for the month under variable costing and what is the unit product cost for the month under absorption costing?
Explain how simulation works : According to the CAPM, which measurement of a project's risk is relevant? What complications does reality introduce into the CAPM view of risk, and what does that mean for our view of the relevant measure of a project's risk?
Business organization to adopt : What would be the best business organization to adopt for 3 college graduates who wants to manufacture frozen drink machines for home use throughout the Southeast?
Determine the specific heat capacity of the liquid : A piece of glass has a temperature of 85.8° C. Liquid that has a temperature of 43.0° C is poured over the glass, completely covering it, determine the specific heat capacity of the liquid
Explain mixture of co and co2 effuse through the hole : In 2.00 min, 29.8ml of He effuse through a small hole. Under the same conditions of pressure and temperature, 9.85ml of a mixture of CO and CO2 effuse through the hole in the same amount of time. Calculate the percent composition by volume of the ..

Reviews

Write a Review

 

Managerial Accounting Questions & Answers

  Cost allocations-relevance to us army corp of engineers

Why does the US Army Corp of Engineers worry about cost allocations? Aren't they a branch of the US Federal Government? Why does it matter whether or not costs are allocated?

  Sharing of non-private demographic information

Your supervisor recently instituted a plan that encourages her managers to share non-private demographic characteristics voluntarily provided by those who purchase your firm's final product.

  What are the main features of an intangible asset

What are the main features of an intangible asset, as laid out in AASB 138 Intangible Assets. Explain how Pics Ltd's) expenditures on intangibles should be accounted for under AASB 138 Intangible Assets.

  Explain why green made this comment

Explain why Green made this comment. What is wrong with her analysis - Sascha Green reanalyzes the data, this time comparing quarterly machinehours with quarterly maintenance expenditures.

  Benefits of social programs

In Excel spreadsheet, show whether this project is economically feasible. Would the majority approve this project (explain)? Does the project meet Pareto efficiency criterion (explain)?

  Analyze two managerial plans

A cost behavior analysis indicates that 75% of the cost of goods sold are variable. 50% of the selling expenses are variable, and 25% of the administrative expenses are variable.

  Describing activity-based costing

What is generally true regarding overhead allocation to high-volume products versus low-volume products under the traditional costing system?

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Standard costs and plans for fiscal current year

Spam Inc. had the following standard costs and plans for fiscal current year for the production' of custom meat products Plan 500,000 Plan Direct Material

  Breakeven cvp changes in operating income

Compute the firm's current contribution margin ratio and break-even in revenues. Recalculate contribution margin ratio and breakeven in sales if new machine is leased. What is the firm's operating income supposing that the new machine is leased?

  Types of products-job order costing system

Which of the following products would typically be accounted for using a job order costing system? Which would typically be accounted for using a process costing system?

  Business question-cash conversion cycle

How can a company reduce its cash conversion cycle? What are some of the disadvantages (at least 3) of the payback rule in capital budgeting?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd