Question

The Southern Corporation manufactures a single product and has the following cost structure: Variable costs per...

The Southern Corporation manufactures a single product and has the following cost structure:

Variable costs per unit:
Production $ 33
Selling and administrative $ 12
Fixed costs per year:
Production $ 166,110
Selling and administrative $ 147,840

Last year, 7,910 units were produced and 7,810 units were sold. There was no beginning inventory.

The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be:

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
Southern Tier manufactures a single product and has the following cost structure: Variable costs per unit:...
Southern Tier manufactures a single product and has the following cost structure: Variable costs per unit: $ 38 Production Selling and administrative $ 14 Fixed costs per year: Production $ 140,000 Selling and administrative $ 84,000 Last year, 7,000 units were produced and 6,800 units were sold. There was no beginning inventory. The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be: Group of answer choices A) $6,800 less than under...
Yankee Corporation manufactures a single product. The company has the following cost structure: Variable costs per...
Yankee Corporation manufactures a single product. The company has the following cost structure: Variable costs per unit: Production $4 Selling and administrative $1 Fixed costs in total: Production $12,000 Selling and administrative $8,000 Last year, 4,000 units were produced and 3,500 units were sold. There were no beginning inventories. Under absorption costing, the cost of goods sold for the year would be:
FCO, Inc. manufactures a single product that it sells for $208 per unit. The company had...
FCO, Inc. manufactures a single product that it sells for $208 per unit. The company had the following cost structure thsi year: Variable Manufacturing Cost per unit: $50 Variable Selling and Administrative cost per unit: $21 Fixed Manufacturing Cost, Total: $1,599,000 Fixed Selling and Administrative Costs, Total: $934,000 There were no units in beginning inventory. During the year, 44,000 units were produced and 38,000 units were sold. Under absorption costing, the unit product cost is:
Sierra Company incurs the following costs to produce and sell a single product. Variable costs per...
Sierra Company incurs the following costs to produce and sell a single product. Variable costs per unit: Direct materials $ 11 Direct labor $ 9 Variable manufacturing overhead $ 4 Variable selling and administrative expenses $ 5 Fixed costs per year: Fixed manufacturing overhead $ 88,500 Fixed selling and administrative expenses $ 300,000    During the last year, 29,500 units were produced and 25,000 units were sold. The Finished Goods inventory account at the end of the year shows a...
The Pacific Company manufactures a single product. its cost structure, which has remained constant for the...
The Pacific Company manufactures a single product. its cost structure, which has remained constant for the last 3 years, is as follows: Variable cost per unit       Production $43     Selling and Administrative $15 Fixed Costs in Total    Production $145,000    Selling and Administrative $95,000 5,800 units were produced and 5,000 units were sold during 2019. There were no beginning inventories. Which of the following would best describe the relationship between the net income for 2019 under variable costing...
1. WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site...
1. WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site supervisor who is paid a salary of $74,000 annually and one salaried estimator who is paid $42,000 annually. The corporate office has two office administrative assistants who are paid salaries of $46,000 and $35,000 annually. The president's salary is $147,000. How much of these salaries are common fixed expenses? Multiple Choice $147,000 $228,000 $81,000 $288,000 2. The Southern Corporation manufactures a single product and...
2. Adam Company has the following cost structure for Year 1: Variable Costs: Manufacturing $6 per...
2. Adam Company has the following cost structure for Year 1: Variable Costs: Manufacturing $6 per unit produced Selling and Administrative $2 per unit produced Fixed Costs Manufacturing $250,000 per year Selling and Administrative $120,000 per year During Year 1, 100,000 units were produced and 95,000 units were sold. There was no beginning inventory. The selling price was $14 per unit. What is operating income for Year 1 using absorption costing? $200,000 $212,500 $202,500 $190,000
Sparn Limited incurs the following costs to produce and sell a single product:   Variable costs per...
Sparn Limited incurs the following costs to produce and sell a single product:   Variable costs per unit:      Direct materials $ 10      Direct labour 5      Variable manufacturing overhead 2      Variable selling and administrative expenses 4   Fixed costs per year:      Fixed manufacturing overhead 90,000      Fixed selling and administrative expenses 300,000 During the last year, 30,000 units were produced and 25,000 units were sold. The Finished Goods Inventory account at the end of the year shows a balance of $85,000 for the 5,000...
Cutterski Corporation manufactures a propeller. Shown below is Cutterski's cost structure: Variable cost per propeller Total...
Cutterski Corporation manufactures a propeller. Shown below is Cutterski's cost structure: Variable cost per propeller Total fixed cost for the year Manufacturing cost $122 $523,600 Selling and administrative expense $ 22 $129,500 In its first year of operations, Cutterski produced 61,600 propellers but only sold 51,800. What is the total cost that would be assigned to Cutterski's finished goods inventory at the end of the first year of operations under variable costing? $1,411,200 $1,195,600 $1,519,000 $1,278,900
EXERCISE 6–13 Inferring Costing Method; Unit Product Cost LO6–1 Sierra Company incurs the following costs to...
EXERCISE 6–13 Inferring Costing Method; Unit Product Cost LO6–1 Sierra Company incurs the following costs to produce and sell its only product. Variable costs per unit: Direct materials ....................................... $9 Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10 Variable manufacturing overhead ....................... $5...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT