Question

Ing Corporation, which has only one product, has provided the following data concerning its most recent...

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

Selling price $ 159
Units in beginning inventory 0
Units produced 7,800
Units sold 7,700
Units in ending inventory 100
Variable costs per unit:
Direct materials $ 47
Direct labor $ 50
Variable manufacturing overhead $ 2
Variable selling and administrative expense $ 9
Fixed costs:
Fixed manufacturing overhead $ 304,200
Fixed selling and administrative expense $ 84,700

What is the net operating income for the month under variable costing?

Multiple Choice

  • $3,800

  • $(6,100)

  • $3,900

  • $7,700

Homework Answers

Answer #1
Direct materials 47
Direct labor 50
Variable manufacturing overhead 2
Unit product cost $ 99
Sales revenue (7700 x $159) 1224300
Less: Variable costs
Cost of goods sold (7700 x $99) 762300
Variable selling and administrative expense (7700 x $9) 69300 831600
Contribution margin 392700
Fixed costs:
Fixed manufacturing overhead 304200
Fixed selling and administrative expense 84700 388900
Net operating income $ 3800

Answer: $3,800

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Aaron Corporation, which has only one product, has provided the following data concerning its most recent...
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 94 Units in beginning inventory 0 Units produced 3,900 Units sold 3,470 Units in ending inventory 430 Variable costs per unit: Direct materials $ 22 Direct labor $ 35 Variable manufacturing overhead $ 6 Variable selling and administrative expense $ 3 Fixed costs: Fixed manufacturing overhead $ 47,900 Fixed selling and administrative expense $ 2,700 The total contribution...
Hatfield Corporation, which has only one product, has provided the following data concerning its most recent...
Hatfield Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $123 Units in beginning inventory 0 Units produced 6,400 Units sold 6,100 Units in ending inventory 300 Variable costs per unit: Direct materials $45 Direct labor $30 Variable manufacturing overhead $1 Variable selling and administrative $8 Fixed costs: Fixed manufacturing overhead $140,800 Fixed selling and administrative $91,500 What is the net operating income for the month under variable costing?
Keyser Corporation, which has only one product, has provided the following data concerning its most recent...
Keyser Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 125 Units in beginning inventory 850 Units produced 8,750 Units sold 8,850 Units in ending inventory 750 Variable costs per unit: Direct materials $ 27 Direct labor $ 44 Variable manufacturing overhead $ 8 Variable selling and administrative expense $ 18 Fixed costs: Fixed manufacturing overhead $ 70,000 Fixed selling and administrative expense $ 163,600 The company produces...
Hadley Corporation, which has only one product, has provided the following data concerning its most recent...
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 196 Units in beginning inventory 100 Units produced 1,680 Units sold 900 Units in ending inventory 880 Variable costs per unit: Direct materials $ 94 Direct labor $ 35 Variable manufacturing overhead $ 6 Variable selling and administrative expense $ 8 Fixed costs: Fixed manufacturing overhead $ 20,160 Fixed selling and administrative expense $ 20,700 What is the...
Farris Corporation, which has only one product, has provided the following data concerning its most recent...
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 120 Units in beginning inventory 0 Units produced 9,050 Units sold 8,650 Units in ending inventory 400 Variable costs per unit: Direct materials $ 20 Direct labor $ 62 Variable manufacturing overhead $ 8 Variable selling and administrative expense $ 12 Fixed costs: Fixed manufacturing overhead $ 135,750 Fixed selling and administrative expense $ 9,000 What is the...
Farris Corporation, which has only one product, has provided the following data concerning its most recent...
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 172 Units in beginning inventory 0 Units produced 9,700 Units sold 9,300 Units in ending inventory 400 Variable costs per unit: Direct materials $ 33 Direct labor $ 75 Variable manufacturing overhead $ 21 Variable selling and administrative expense $ 25 Fixed costs: Fixed manufacturing overhead $ 145,500 Fixed selling and administrative expense $ 10,300 What is the...
Farris Corporation, which has only one product, has provided the following data concerning its most recent...
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $108 Units in beginning inventory 0 Units produced 8,900 Units sold 8,500 Units in ending inventory 400 Variable costs per unit: Direct materials $ 17 Direct labor $ 59 Variable manufacturing overhead $ 5 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $133,500 Fixed selling and administrative expense $ 8,700 What is the net operating...
Hadley Corporation, which has only one product, has provided the following data concerning its most recent...
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 187 Units in beginning inventory 100 Units produced 1,470 Units sold 1,220 Units in ending inventory 350 Variable costs per unit: Direct materials $ 87 Direct labor $ 33 Variable manufacturing overhead $ 5 Variable selling and administrative expense $ 8 Fixed costs: Fixed manufacturing overhead $ 17,640 Fixed selling and administrative expense $ 28,060 What is the...
Nelter Corporation, which has only one product, has provided the following data concerning its most recent...
Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 130 Units in beginning inventory 320 Units produced 6,670 Units sold 6,780 Units in ending inventory 210 Variable costs per unit: Direct materials $ 42 Direct labor $ 26 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 20 Fixed costs: Fixed manufacturing overhead $ 160,080 Fixed selling and administrative expense $ 88,140 The company produces...
Nelter Corporation, which has only one product, has provided the following data concerning its most recent...
Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 130 Units in beginning inventory 150 Units produced 6,830 Units sold 6,850 Units in ending inventory 130 Variable costs per unit: Direct materials $ 42 Direct labor $ 27 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 16 Fixed costs: Fixed manufacturing overhead $ 157,090 Fixed selling and administrative expense $ 102,750 The company produces...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT