Question

Inventory Valuation under Absorption Costing Amiens Company produced 20,000 units during its first year of operations...

Inventory Valuation under Absorption Costing

Amiens Company produced 20,000 units during its first year of operations and sold 18,900 at $17 per unit. The company chose practical activity—at 20,000 units—to compute its predetermined overhead rate. Manufacturing costs are as follows:

Direct materials $ 80,000
Direct labor 101,400
Variable overhead 15,600
Fixed overhead 54,600

Required:

1. Calculate the unit cost for each of these four costs. Round your answers to the nearest cent.

Direct Materials Cost $

Direct Labor Cost $

Variable Overhead Cost $

Fixed Overhead Cost $

2. Calculate the cost of one unit of product under absorption costing. Round your answer to the nearest cent.

$

3. How many units are in ending inventory?

$

4. Calculate the cost of ending inventory under absorption costing.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Inventory Valuation under Absorption Costing Amiens Company produced 20,000 units during its first year of operations...
Inventory Valuation under Absorption Costing Amiens Company produced 20,000 units during its first year of operations and sold 18,900 at $17 per unit. The company chose practical activity—at 20,000 units—to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials $ 80,000 Direct labor 101,400 Variable overhead 15,600 Fixed overhead 54,600 Required: 1. Calculate the unit cost for each of these four costs. Round your answers to the nearest cent. Direct Materials Cost $ Direct Labor Cost $...
chp 8 12) Inventory Valuation under Absorption Costing Hansard Company produced 39,310 units during its first...
chp 8 12) Inventory Valuation under Absorption Costing Hansard Company produced 39,310 units during its first year of operations and sold 38,895 at $17 per unit. The company chose practical activity—at 39,310 units—to compute its predetermined overhead rate. Manufacturing costs are as follows: Direct materials $83,650 Direct labor 101,200 Variable overhead 15,800 Fixed overhead 50,300 Required: 1. Calculate the unit cost for each of these four costs. Round your answers to the nearest cent. Unit direct materials cost $ Unit...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,800 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $33.80 Direct labor 20.30 Fixed factory overhead 6.90 Variable factory overhead 6.10 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $
Inventory valuation under absorption costing and variable costing At the end of the first year of...
Inventory valuation under absorption costing and variable costing At the end of the first year of operations, 20,800 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $34 Direct labor 13 Fixed factory overhead 20 Variable factory overhead 7 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. a. Cost of the finished goods...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,100 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $40.90 Direct labor 15.10 Fixed factory overhead 7.00 Variable factory overhead 6.20 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.
#7 Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year...
#7 Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,000 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $29.80 Direct labor 17.20 Fixed factory overhead 5.60 Variable factory overhead 4.90 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing...
#7 Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year...
#7 Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 5,000 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $29.80 Direct labor 17.20 Fixed factory overhead 5.60 Variable factory overhead 4.90 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of...
Inventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,900 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $35.80 Direct labor 18.90 Fixed factory overhead 5.70 Variable factory overhead 5.00 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $fill in the blank...
nventory Valuation under Absorption Costing and Variable Costing At the end of the first year of...
nventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 4,800 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $36.90 Direct labor 20.70 Fixed factory overhead 6.90 Variable factory overhead 6.10 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $
nventory Valuation under Absorption Costing and Variable Costing At the end of the first year of...
nventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 6,400 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $41.40 Direct labor 19.40 Fixed factory overhead 6.20 Variable factory overhead 5.50 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $ Variable costing $
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT