Question

Burns Company incurred the following costs during the year: direct materials $23.50 per unit; direct labor...

Burns Company incurred the following costs during the year: direct materials $23.50 per unit; direct labor $15.30 per unit; variable manufacturing overhead $17.50 per unit; variable selling and administrative costs $9.60 per unit; fixed manufacturing overhead $126,000; and fixed selling and administrative costs $11,000. Burns produced 6,300 units and sold 6000 units.

Determine the manufacturing cost per unit under (a) absorption costing and (b) variable costing. (Round answers to 2 decimal places, e.g. 52.75.)

Homework Answers

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
1) Doon Company incurred the following costs while producing 560 ​units: direct​ materials, $9 per​ unit;...
1) Doon Company incurred the following costs while producing 560 ​units: direct​ materials, $9 per​ unit; direct​ labor, $30 per​ unit; variable manufacturing​ overhead, $14 per unit; total fixed manufacturing overhead​ costs, $11,200​; variable selling and administrative​ costs, $3 per​ unit; total fixed selling and administrative​ costs, $7,280. There are no beginning inventories. What is the ending balance in Finished Goods Inventory using variable costing if 400 units are​ sold?
Direct Materials          $10 per unit Direct Labor                $20 per unit Variable OH costs    $10 per unit...
Direct Materials          $10 per unit Direct Labor                $20 per unit Variable OH costs    $10 per unit Fixed OH costs         $240,000 per year      In addition to the information provided above the Company also had:               Variable selling and administrative expenses    $4 per unit                Fixed selling and administrative expenses     $120,000 per year      Prepare and Income Statement for Vijay Company using the traditional absorption costing method and an income statement using the variable costing method assuming they sold 30,000...
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials,...
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $6 per unit, Direct labor, $3 per unit, Variable overhead, $5 per unit, and Fixed overhead, $296,000. The company produced 37,000 units, and sold 29,000 units, leaving 8,000 units in inventory at year-end. Income calculated under variable costing is determined to be $405,000. How much income is reported under absorption costing?
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit:     Manufacturing:          Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6          Direct labor . . . . . . . . . . . . . . . . . . . ....
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials,...
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $2 per unit, Variable overhead, $4 per unit, and Fixed overhead, $324,000. The company produced 36,000 units, and sold 28,500 units, leaving 7,500 units in inventory at year-end. Income calculated under variable costing is determined to be $400,000. How much income is reported under absorption costing? Multiple Choice $400,000 $332,500 $724,000 $467,500 $381,000 Urban Company reports the following information...
19. Kircher, Inc., manufactures a product with the following costs: Per Unit Per Year Direct materials...
19. Kircher, Inc., manufactures a product with the following costs: Per Unit Per Year Direct materials $ 26.90 Direct labor $ 14.90 Variable manufacturing overhead $ 3.10 Fixed manufacturing overhead $ 1,469,400 Variable selling and administrative expenses $ 3.00 Fixed selling and administrative expenses $ 1,453,600 The company uses the absorption costing approach to cost-plus pricing described in the text. The pricing calculations are based on budgeted production and sales of 79,000 units per year. The company has invested $1,066,000...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations:          Variable costs per unit:     Manufacturing:         Direct materials $ 11         Direct labor $ 3         Variable manufacturing overhead $ 1         Variable selling and administrative $ 1   Fixed costs per year:     Fixed manufacturing overhead $ 330,000     Fixed selling and administrative $ 240,000      During the year, the company produced 30,000 units and sold 23,000 units. The selling price of the company’s product...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 14 Direct labor $ 3 Variable manufacturing overhead $ 1 Variable selling and administrative $ 1 Fixed costs per year: Fixed manufacturing overhead $ 290,000 Fixed selling and administrative $ 200,000 During the year, the company produced 29,000 units and sold 22,000 units. The selling price of the company’s product is $42...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 15 Direct labor $ 5 Variable manufacturing overhead $ 1 Variable selling and administrative $ 1 Fixed costs per year: Fixed manufacturing overhead $ 286,000 Fixed selling and administrative $ 196,000 During the year, the company produced 26,000 units and sold 22,000 units. The selling price of the company’s product is $46...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s...
Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 10 Direct labor $ 7 Variable manufacturing overhead $ 3 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead $ 380,000 Fixed selling and administrative expenses $ 290,000 During the year, the company produced 38,000 units and sold 18,000 units. The selling price of the company’s product is...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT